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The Flavored Powder Drinks Market size is projected to increase by USD 14.52 billion and the market size is estimated to grow at a CAGR of 3.78% between 2023 and 2028.
This flavored powder drinks market report extensively covers market segmentation by product type (chocolate-based flavored powder drinks, malt-based flavored powder drinks, and others), distribution channel (supermarkets and hypermarkets, convenience stores, online, independent retailers, and others), and geography (APAC, North America, Europe, South America, and Middle East and Africa). Our report examines historical data from 2018-2022, besides analyzing the current market scenario.
An increase in disposable incomes and rising urbanization is the key factor driving market growth. The rising shifting of the global population from rural to urban and semi-urban areas has been recorded over the past few years. In recent years, lifestyles in both developed and emerging countries such as China, Russia, and India have changed considerably due to the rapid rise in urbanization. Furthermore, urbanization in both developed and emerging economies has improved living standards increased the use of technology, and facilitated the easy availability of a variety of products through multiple retail outlets. This has allowed better awareness of the benefits of flavored powder drinks, which is anticipated to drive the growth of the market during the forecast period.
The Flavored Powder Drinks Market shows an accelerated CAGR during the forecast period.
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Innovative flavors and ingredients is the primary trend shaping market growth. Manufacturers of flavored powder drinks are constantly presenting new and unique flavors, as well as containing trending ingredients, such as superfoods and natural sweeteners, to attract consumer interest. An upsurge in the number of new product launches by regional and international market players will support the growth of the flavored powder drinks market.
In addition, one of the growth drivers of the global flavored powder drinks market is the introduction of new flavors by the players. The players are developing new flavors for their products to cater to consumer demand and keep the interest of the consumers alive in the flavored powder drinks market. Thus, such factors will boost the growth of the global flavored powder drinks market during the forecast period.
Competition from RTD flavored drinks is a challenge that affects market growth. Buyers have shown a preference for RTD premium chocolate-flavored dairy and dairy alternatives for themselves and their children. Consumers prefer RTE (ready-to-eat) foods, as they reduce the preparation or cooking time and save the clean-up time. The convenience factor is also frequently used by ready meal manufacturers to increase the relevance of their products to consumers, a large proportion of whom say convenience plays a key role in their choice of meal.
Furthermore, the robust development of various RTD beverages, such as plant protein drinks, which have a similar taste and function to flavored powder drinks, is expected to negatively impact the growth of the flavored powder drinks market during the forecast period.
Consumers prefer buying flavored powder drinks from hypermarkets and supermarkets as they can choose from a large selection of products. Furthermore, factors such as the boost in organized retail and the peak in the number of hypermarkets and supermarkets are the prior growth drivers for this segment. In addition, supermarkets and hypermarkets offer a one-stop shopping experience, making it convenient for consumers to purchase groceries, household items, and beverages all in one place. This convenience extends to flavored powder drinks, which can be easily added to the shopping cart during regular grocery trips. Hence, the supermarkets and hypermarkets segment, as well as the global market in focus, is expected to witness significant growth during the forecast period.
The market share growth by the chocolate-based flavored powder drinks segment will be significant during the forecast period. The sales of chocolate-based flavored powder drinks are increasing due to their increasing popularity among consumers. Owing to the rising consumption of chocolate-based flavored powder drinks in emerging countries such as India and Brazil, the global flavored powder drinks market is expected to witness significant growth.
The chocolate-based flavored powder drinks segment was valued at USD 28.54 billion in 2018.
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Chocolate powder drinks with added protein and amino acids are commonly used as post-workout recovery drinks. The combination of protein and carbohydrates can help with muscle repair and glycogen replenishment. The combination of a beloved flavor with the benefits of powder drinks has led to a high demand for chocolate-flavored powder drinks among various consumer groups, which will have a positive impact on the growth of the global market in focus during the forecast period.
APAC is estimated to contribute 38% to the growth of the global market during the forecast period
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Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The flavored powder drinks market in APAC is driven by the rising demand for flavored powder drinks in growing economies such as India and China. The strong economic growth of these countries will boost the disposable income of consumers. This will allow them to spend on products such as flavored powder drinks. Furthermore, market players such as Nestle and Abbott are investing in expanding their infrastructure in APAC to increase their market presence. Consequently, the rising investments, introduction of new products, and product innovations will propel the growth of the flavored powder drinks market in APAC during the forecast period.
The COVID-19 outbreak negatively impacted the growth of the flavored powder drinks market in APAC in 2020. However, in 2021, the initiation of large-scale vaccination drives?lifted the lockdown and travel restrictions, which led to the resumption of supply chain activities. In addition, the increasing use of flavored powder drinks is expected to continue as consumers seek convenient, energizing, and functional beverage options, which are anticipated to fuel the growth of the flavored powder drinks market in APAC during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The flavored powder drinks market report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The flavored powder drinks market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2022.
Flavored Powder Drinks Market Scope |
|
Report Coverage |
Details |
Page number |
180 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 3.78% |
Market Growth 2024-2028 |
USD 14.52 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
3.51 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 38% |
Key countries |
US, China, India, UK, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Abbott Laboratories, AriZona Beverages USA LLC, Cargill Inc., Dyla Brands, Insta Foods, Kent Corp., Kerry Group Plc, Keurig Dr Pepper Inc., Lasco Foods Inc., National Beverage Corp., Nestle SA, PepsiCo Inc., Simatek AS, Sugam Products, The Coca Cola Co., The Kraft Heinz Co., TreeHouse Foods Inc., True Citrus, Unilever PLC, and US Foods Holding Corp. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product Type
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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