Global beverage ingredients market is anticipated to witness significant growth over the next seven years owing to increasing beverages popularity among younger consumers. The global beverage usage exceeded 40 million tons in 2011 and is anticipated to grow at an estimated CAGR of over 3% from 2015 to 2022. They are widely used in end-use applications such as soft drinks, energy drinks, functional & flavored waters, juices, and carbonated soft drinks.
Increasing popularity among consumers in emerging economies of Asia Pacific and Latin America such as India, China, Vietnam, Thailand, Brazil, and Argentina is expected to fuel the demand over the forecast period. Increasing ready-to-drink (RTD) coffee and tea consumption in offices and outlets coupled with busy schedule is further expected to fuel the demand over the next seven years.
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Shift in preference towards energy drinks due to rising health concerns is expected to complement industry growth. Energy drinks are anticipated to exhibit the highest growth rate over the forecast period owing to several health benefits. Advent of new and improved variety of ingredients is anticipated to provide lucrative opportunities for industry participants.
Increasing carbonated soft drinks consumption in regions such a China, India, UAE, and Brazil owing to changing lifestyle coupled with rising per capita disposable income is expected to drive market growth. Rising health and wellness trends are expected to drive innovation in powdered beverages.
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Major ingredient types include acidulants, botanicals, cocoa ingredients, colors, fats & oils, flavors, flours, emulsifiers, oligosaccharides, proteins, sweeteners, vitamins, and minerals. Attraction of urban youth towards successful café culture, which serves RTD tea and coffee, is anticipated to drive the demand. Consumers are showing inclination towards healthy food & drinks in their daily diet owing to global increase in diseases such as obesity and diabetes.
Increasing demand for sugar-free and light-drink beverages is expected to drive industry growth significantly over the next seven years. Technological advancement in food & beverage packaging has resulted in longer shelf life of beverages and is anticipated to positively influence the demand.
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