Powdered Soft Drinks Consumption Scenario Market size was valued at $ 9.95 Billion by 2019, and is anticipated to grow at a CAGR of 2.96% during the forecast period 2020-2025. The Powdered Soft Drinks Consumption Scenario Market growth rate is attributed to growing consumer demand for ready-to-go products; the food and beverage industry is making fast progress in meeting the ever-increasing market demand. Powdered beverages are drinks filled with vitamins and minerals that are non-alcoholic. As powdered blends, powdered soft drinks are available where water is added and consumed as Flavored drinks. Their main ingredient is fruit concentrate powder, and other ingredients that are added are sweeteners, Preservatives, stabilizers, emulsifiers, and other functional ingredients that are needed when combined with water or other liquid to provide a consistent product.
Powdered Soft Drinks Consumption Scenario Market Segment Analysis - By Distribution Channel
On the basis of distribution Channel, hypermarkets/supermarkets segment held the major share of the market in terms of revenue and is poised to grow with a CAGR of 2.5%. The reason is being attributed to the transportation facilities, which helps in the easy flow of concentrate products. Existing supply models have benefited powdered soft drinks in reaching customers without any obstacles. Moreover, the powdered soft drinks that are supplied to food service and institutional outlets are supplied in bulk, and are facilitated with effective storage and transportation.
On the contrary, shopping through online retailers is growing. The preference of customers for online shopping has proven to be very advantageous for retailers to improve their profitability across e-commerce platforms as well. With the large use of the internet all over the world, advertisement trends have also shifted.
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Powdered Soft Drinks Consumption Scenario Market Segment Analysis - By Geography
North America dominated the Powdered Soft Drinks Consumption Scenario Market with a share of 34% in 2019. The application of Powdered Soft Drinks Consumption Scenario has grown rapidly over the last few years owing to the major key players launching novel products and expanding their product portfolios of powdered soft drinks, the market has become highly saturated. As health consciousness is sweeping in both Europe and North America, products like plant-based and vegan drinks are winning more space on retail shelves, and traditional beverages such as powdered soft drinks have been suffering a serious backlash.
Furthermore, hot climate areas in Latin America are anticipated to show steady growth in the demand for powdered soft drinks. The desire of consumers to experiment with new products in Asia Pacific is leading many of the big players in this area to increase production and is a major factor in boosting the growth of the demand for powdered soft drinks.
Powdered Soft Drinks Consumption Scenario Market Drivers
Increase in Outdoor Activities Amongst Youngsters to Propel the Utilization of Powdered Soft Drinks
With increase in outdoor activities amongst youngsters, the utilization of powdered soft drinks is poised to propel hence, preparing a powdered soft drink is also effortless. Moreover, handy and pocket-friendly packaging such as sachets in the powdered soft drinks segment is even more convenient for consumers. An increase in the number of hiking, trekking, camping, and travelling activities has resulted in more demand for packaged products meant for refreshment, such as powdered soft drinks.
Moreover, powdered soft drinks often add to the benefit for travellers of a fun and easy experience, as they can be readily prepared for a quick refreshment. The shelf life typically ranges from one to three years for powdered soft drinks. In addition to helping to preserve powdered soft drinks for a longer period of time, long shelf life often enables the transport and use of powdered soft drinks at a later stage.
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Powdered Soft Drinks Consumption Scenario Market Challenges
Lack of awareness and weak economic condition
Weak economic conditions in some countries, strong competition, and a lack of awareness about this product can pose a threat to this market. Along with this, too much consumption of powdered beverages can be bad for health, rot teeth, and can cause many other problems as well. Developments being made for better alternatives that are challenging the market during the forecast period 2020-2025.
Powdered Soft Drinks Consumption Scenario Industry Outlook
Product launches, mergers and acquisitions, joint ventures and geographical expansions are key strategies adopted by players in the Powdered Soft Drinks Consumption Scenario Market. In 2019, Powdered Soft Drinks Consumption Scenario Market share is fragmented by the top ten players present in the market. Powdered Soft Drinks Consumption Scenario Market top 10 companies are Cargill Incorporated, Insta Foods, Firmenich, Tate & Lyle, Bemis Company, Sugam Products, Coperion, Kraft Foods, Gatorade, SMC Enterprise and others.
Acquisitions/Product Launches
In 2017, Insta Foods launched a new production line with their premium soda powder drink in order to attract new crowd.
Key Takeaways
North America dominated the Powdered Soft Drinks Consumption Scenario Market with a share of 34% in the year 2019.
The factors such as consumer demand for on-the-go products coupled with increase in outdoor activities amongst youngsters are amongst the major factor projected to impel growth of Powdered Soft Drinks Consumption Scenario Market.
Busy schedules and tiring lifestyles are reducing the time spent on preparing healthy, tasty, and flavorful beverage, packaged items such as powdered soft drinks have become a likeable and preferred option amongst consumers in almost all age group are the key factors owing to the growth in the segment during forecast period 2020-2025.
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