Flavored Powder Drinks Market Growth & Trends
The global flavored powder drinks market size is estimated to reach USD 94.86 billion in 2030 and is expected to expand at a CAGR of 3.0% from 2022 to 2030, according to a new report by Grand View Research, Inc. The factors propelling the growth in demand for flavored powder drinks are continuous innovation among flavors by key players to attract more consumers which is accelerating the global market growth. In addition, the emergence of flavored powder drinks infused with various vitamins and minerals to provide instant energy is another factor attributing to the growth.
However, leading companies are adding new flavors and tastes to their product portfolio to increase their customer base creating high opportunities for growth in the flavored powder drinks industry during the forecast period. Moreover, the health benefits associated with flavored powder drinks such as instant energy, an increase in immunity system along with adequate hydration are some factors attributing to the global market growth. True Citrus company has launched an innovative product range, especially for children with low sugar, clean-label powdered drinks range to capture maximum market share and future opportunities in the coming years.
The fruit-based segment led the market with a significant market share. Fruit-based powder drinks are infused with various vitamins and minerals which is one of the major factors attributing the segment growth. Fruit-based powders are extracted from real fruit pulp which can retain the quality vitamins and nutrients in the powder form for a long time. Therefore, the powder form can be stored for a long period and can be easily consumed. Moreover, fruit-based powder drinks can improve the immunity system due to the availability of multiple nutrients loaded with. Hence, these factors are expected to drive the fruit-based segment’s growth during the forecast period.
The online channel is expected to grow at the fastest CAGR from 2022 to 2030. This can be attributed due to the availability of various local and branded products within a single application. Consumers can directly compare their required products through different websites and then decide their purchase is one of the major factors driving the online channel segment. Moreover, consumers can get offers and discounts with combos among the online channels which further attributing them to buy from online channels. Hence, these factors are expected to drive online channels as the fastest growing distribution channel during the coming years.
North America has captured a significant market share in the global market in 2021. In this region, key players are adopting innovative flavors and packaging to attract a large number of consumers are one of the major factors propelling the flavored powder drinks in this region. In addition to that, top companies such as Abbott, True-Citrus, PepsiCo, Inc., and others are highly contributing to the revenue generation of the flavored powder drinks industry.
Major players in the flavored powder drinks market include Nestle S.A., Mondelez International, The Coca-Cola Company, Kraft Heinz, Cargill Inc., Unilever, PepsiCo, Inc., Mars, Inc., GlaxoSmithKline Plc, and Abbott. These market players face intense competition from each other, as some of them operate at several locations and have large customer bases. The presence of many small-scale players is also leading to increased competition.
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Flavored Powder Drinks Market Report Highlights
The Asia Pacific captured a dominating share in the flavored powder drinks market with a share of over 40% in 2021. The market is primarily driven by the developing countries where the students and working population are increasing. Hence, they are highly demanding instant drinks during their breakfast and school hours to keep hydrated all day is one of the major factors enhancing the regional growth
The coffee-based segment is expected to grow with the 2nd fastest CAGR of 2.5% from 2022 to 2030. This can be attributed due to the instant energy booster formula infused in the coffee powder being one of the major factors attributing to the sales of the flavored powder drinks. Additionally, coffee powders can support the brain to function correctly and can protect against liver conditions further enhancing the coffee-based powder drinks among consumers in the long run
Supermarkets and hypermarkets segment has captured a dominating share in 2021 with over 40%. This can be attributed due the availability of large stock of products under the same roof driving the sales of powder drinks among the consumers. Moreover, sometimes these channels also offer discounts such as buy one get one free further attracting consumers to purchase from supermarkets and hypermarkets.
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