Demand for flavored powder drinks is increasing and combined with the market trend, it is evident that the Flavored Powder Drinks Market size will expand and reach USD $ 95 billion mark by 2030 registering a CAGR of just under 3%.
One of the major factors behind the increase in market size for flavored powder drinks is continuous innovation among flavors by key players. Further, flavored powder drinks are now being infused with various vitamins and minerals to provide instant energy and this is giving the market a healthcare edge and hence a factor attributing to the growth.
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.