Global flavored powder drinks market is expected to grow at a significant CAGR in the upcoming period as the scope and its applications are rising enormously across the globe. The flavored powder drinks are also termed as processed beverage products that are available in powdered form. Flavored powder is exclusively used to make several kinds of drinks like flavored milk beverages, energy drinks, and fruit-flavored drinks.
The factors that are playing a major role in the growth of flavored powder drink market are the rising awareness among consumers regarding the health benefits of flavored powder drinks, the rising popularity among young generation, sportsperson, and working population, and the presence of essential ingredients like the high-quality fats, carbohydrates, and the proteins. However, weak economic condition in the developing regions and the lack of awareness regarding the benefits of flavored powder drink may restrain the overall market growth in the years to come. Flavored powder drinks market is segmented based on product type, distribution channel, and region.
Malt based, chocolate based, and fruit-based powder drinks are the product types that could be explored in the market in the forecast period. The chocolate-based powder drinks sector accounted for the significant share of the market and is estimated to lead the overall market in the years to come. The reason could be the rising demand from consumers of the developing countries.
Based on the distribution channel, convenience stores, supermarkets & hypermarkets, departmental stores, drugs and pharmacy stores, online retailers, and others could classify flavored powder drink market in the forecast period. Supermarket and hypermarket sector accounted for the substantial share of the market in the forecast period. The reason could be the rapid retail penetration. Also, online retailers sector is estimated to grow at the fastest pace in the years to come.
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Globally, North America accounted for the significant share of flavored powder drinks industry and is estimated to lead the overall market in the years to come. The reason behind the overall market growth could be the presence of key manufacturers in the region, the high disposable income, and the high popularity among consumers. The United States is a major consumer of flavored powder drinks in this region. Europe and the Asia Pacific are also estimated to have a positive influence on future growth.
Europe is the second largest region with significant market share. However, Asia Pacific is estimated to grow at the highest CAGR in the forecast period. The aspects that may be ascribed to the growth comprise the growing urbanization, the rise in the working population, and the rising awareness among consumers regarding health benefits of flavored powder drinks in the emerging countries. The developing countries like India and China are the major consumers of flavored powder drinks in this region.
The key players of flavored powder drinks market are PepsiCo, Abbott, Nestlé, Associated British Foods (ABF), Mondelēz International, GlaxoSmithKline (GSK), Bristol-Myers Squibb de Mexico, Gujarat Cooperative Milk Marketing Federation, and VV Food & Beverage. These players are concentrating on inorganic growth to sustain themselves amidst fierce competition.
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