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Powdered beverages are drinks that are non-alcoholic and are enriched with vitamins and minerals. It is available in the form of water-soluble powder, which when mixed with some liquid like water, or milk produces a certain beverage that resembles a certain drink in flavor. The powdered beverages are segregated as hot drinks, soft drinks, and milk drinks. The water-based drinks, generally include energy drinks, soft drinks, fruit drinks, and others. While, milk-based drinks include protein shakes, chocolate drinks, and cappuccino mixes that can be served both hot and cold, according to the consumers' tastes and preferences. The global market for powdered drinks market is expected to grow substantially during the forecast period. Also, the distribution channel for powdered beverages is wide, and therefore holds a large share of customers.
The rise in prevalence of ready-to-eat foods and ready-to-mix beverages, because of surge in trends of convenience culture and on-the-go eating or drinking drives the growth of the global powdered beverages market. Along with this, an increase in the scope of application in different beverages, such as coffee, sports & nutritional drinks, fruit juices, and soft drinks boosts the demand for powdered beverages. Along with this, a rise in the standard of living and increase in disposable income are a few other factors that boost the growth of the market.
However, 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.
The popularity of these drinks among the young generation, working people, and sportsperson propels the global powdered beverage market growth. Heavy marketing and promotional activity, endorsement of celebrities, rapid retail penetration, and untapped markets provide an enormous opportunity for the growth of the market for powdered beverages.
The global powdered beverages market trends are as follows:
The rapid launch of new products in powdered beverages is driving the market growth for the product. Many manufacturers are trying to expand their product range by adding new flavors. In addition, various technical innovations can be seen in the production of powdered beverages. For instance, GlaxoSmithKline, a British multinational pharmaceutical company, in September 2016, launched Horlicks+, which is a clinically proven formula for promoting growth in children.
There is an increase in shopping through online retails. Consumers' preference for online shopping has proved to be very beneficial to retailers as well to increase their profitability through e-commerce platforms. The advertising trends have also changed with the wide use of the internet all around the globe.
Packaging of the product is a very significant factor that increases brand value. It enhances the appeal and visibility of the product. Therefore, players of powdered beverages have started to focus on different packaging ideas. For instance, Mondel?z International sells refill packs at a slightly lower price as compared to the prices of bottled packaging.
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Questions Answered in the Powdered Beverages Market Research Report:
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Key Market Players