Global Beverage Premix Market - 2023-2030

Market Overview

Beverage Premix Market was valued at USD YY million in 2022. It is forecasted to reach USD YY million by 2030, growing at a CAGR of 5.45% during the forecast period (2023-2030).

Beverage premix is most popular product among the young generation and corporate houses due to its less preparation time and convenience for consumers. Beverage premix enables consumers to make beverages at the office or home within less time. In addition, millennials prefer a homelike cup of tea and coffee while traveling which is expected to propel the growth of global beverage premix market. Increasing demand for flavored instant beverage premix in cafes, restaurants, and airports is expected to drive the growth of global instant beverage premix.

Furthermore, increasing awareness about the health benefits of beverage premix among the consumers is expected to create opportunities for existing and new players. As existing market key players are investing in research and development to develop new premixes with new flavors to attract more consumers. In addition to this, beverage premixes derived from organic source is expected to drive the growth of global beverage premix market and increasing awareness associated with preservatives among consumers creates an opportunity for the manufacturer to introduce preservative-free premix in the market.

Market Dynamics: Growing number of working women and rising popularity of ready to drink or easy to make beverages

The rapid growth in working population specifically women resulted in the rise in demand for beverage premixes which is driving the growth of the market. Earlier, very less women were working and most of them were following the responsibility as housewives, and were limited only to the household chores, but as the society has changes, women are seeking employment. Thus, there has been rise in demand for ready to drink, instant and beverage premixes owing to limited time. Thus, it is hard to maintain the work and domestic tasks due to limited time. This has resulted in women choosing beverage premixes over traditional methods. In addition to this, the sudden shift of consumers towards their eating and drinking patterns owing to increase in number of working women, urbanization, rise in disposable income, change in lifestyle and others. For instance, in 2020, according to Teamstage.io, women account for 47.7% of global workforce.

Furthermore, these factors are influenced by the working women preferences and their purchasing patterns which increase the demand for beverage premixes at home. For instance, in 2022, according to phD Eassy, almost 100% women have working hours more than 9-10 hours, 60% don't get time to cook themselves. 30% women prefer ready-to-eat and ready-to-drink products more than once. Thus, increasing demand for beverage premixes across the regions is driving the growth of the market.

However, rise in awareness about the health concerns related to beverage premixes products owing the presence of preservatives, additives, artificial drink colors and others. As, these additives may causes health conditions such as asthma, bronchitis, cardiac issues and others. Thus, these factors may restraint the growth of the market.

Market Segmentation: Tea premix stands for the highest share in global beverage premix market

In 2021, the tea premix dominated the market and accounted for YY share of the global revenue. The growing awareness about the health benefits offered by tea whether its green tea, black tea, and other varieties is expected to benefit the industry during the forecast period. In addition, increasing demand for on-the-go beverages is projected to support the market growth in the coming time. Also, the other factors that adds to the market growth include increasing disposable income, changing lifestyles, and ongoing R&D in the industry.

Furthermore, the market players in the segmentare launching instant tea premixes which is expected to benefit the market in the long run. For instance, in August 2021, Wagh Bakri, an India-based brand, introduced its instant tea in two variants- Wagh Bakri Instant Express & Wagh Bakri Instant Saffron Tea. Thus, owing to these initiatives by the players the market for instant tea premixes is anticipated to benefit during the forecast period.

Geographical Penetration: North America is the dominating region during the forecast period

In 2021, North America had the highest revenue share of YY percent. The region has well-developed food & Beverage industry. In addition, different types of ready-to-drink beverages as well as beverage premixes have been popular in the U.S., Canada, and Mexico. The growing working population in North America enabling consumers to prefer the beverage premixes that can save their time and also can provide them with good nutrition. Furthermore, new technological innovations, busy and hectic work schedules along with rapid growth in personal disposable income of consumers enabling the working-class population adopt the premixes to save their time which ultimately increases the demand of the beverage premixes in the region and adds to the growth of the market. For instance, in 2021, according to Coffeenatics 8% use instant, while 8% choose ready-to-drink coffee.

Competitive Landscape:

The global beverage premix market is competitive and comprises players such as Mondelez International, Inc., The Coca-Cola Co., Panama Foods, Neel Beverages Pvt Ltd, Tweak Beverages, Om Sai Foods, Nestle, Unilever, Ken Global and SK Cafe Brooke Hots Pvt. Ltd. among others. The beverage premix market competitiveness is estimated to increase over the forecast period as the key players focus on various strategies such as player acquisitions, collaborations, new product launches, product innovation with fortification according to the consumer demand along with marketing & advertising of the beverage premixes and their health benefits. Furthermore, growing demand for easy to make and ready drinks & products to save time and energy is propelling the market growth.

For instance,

• In November 2021, Unilever announced that it has entered into an agreement to sell its global Tea business, ekaterra, to CVC Capital Partners Fund VIII for €4.5 billion on a cash-free, debt-free basis. The transaction perimeter excludes Unilever's Tea business in India, Indonesia, and Nepal as well as Unilever's interests in the Pepsi Lipton ready-to-drink Tea joint ventures and associated distribution businesses.
• In March 2020, The Coca-Cola Company acquired the remaining stake in fairlife LLC from its joint venture partner Select Milk Producers. Thus, Coca-Cola now owns 100% of fairlife, up from its previous 42.5% minority stake. Financial terms of the transaction were not disclosed.

COVID-19 Impact: Positive impact on global beverage premix market

The COVID-19 pandemic has adversely affected various industries and the economies.

During the COVID-19 pandemic majority of the population was working from home, as a result of this, there has been extended working hours, major time constraints more pressure along with money saving has seen. Thus, these factors influenced the consumers to buy the products which are easy to make and are instant. For instance, in 2020, according to a recent survey done by Assocham (Associated Chamber of Commerce and Industry of India) says about 79% of Indian households today prefer to have instant drinks due to time constraints.

In addition, the easy availability of the beverages premixes on online platform increased the sale of the products during COVID-19. Thus, the beverage premixes is considered as millennial's new favorite owing to its easy availability, variety and new product innovations by manufacturers even during and after the COVID-19 pandemic. Thus, the growing working population, changing purchasing patterns and time constraints enable consumers to buy beverage premixes products. In addition, the surety of sanitization, hygiene and safe products is driving the growth of the market.

The global beverage premix market report would provide an access to approximately 53 market data tables, 44 figures and 170 pages.