The global fusion beverages market is all set to ride high on the back of increased demand from consumers that ask for taste and wholesomeness in their food and beverage options. In addition, the emerging trend of dietary assessment is likely to propel the global fusion beverages market on the path of high growth trajectory.
Beverages refer to liquids that are made for consumption and it comes various types. Some of the types could be in the form of stimulants like milk, coffee and tea. It could also come in the form of refreshers such as water, juices, and soft drinks. Beverages could be broadly classified into the following
- Alcoholic Beverage
- Nonalcoholic beverage
Fusion beverages refer to a brand new concept in the beverage sector. It offers a blend of new wholesomeness along with great taste to satisfy taste buds of consumers. Fusion beverages come in different forms, which are mentioned as below
- Carbonated beverages refer to drinks that come with carbon dioxide added to them. It is a flavourless and colorless beverage. Carbonated beverages have carbonated water or soda water as its base. Generally, a sweetener or a flavour is added to it.
- Fused Tea & Coffee – Fusion tea and coffee refers to a beverage that is a mixture of both tea and coffee. It could also be a combination fruit extracts and tea or coffee or both.
- Fruit Juices - Juice is a drink that is made from fruit extracts. It is derived through the process of pressing or extraction of natural liquid found in vegetables and fruits. Juices could be liquids that are made of fruit concentrates or biological sources of various food items. It could be food sources such as clam juice, seafood or meat or others.
The global fusion beverages market derives its popularity from the wide varieties of products that it offers. In accordance with the changing taste of consumers and catering to that taste through innovative drinks such as fusion drinks, the market is poised for considerable growth.
Global Fusion Beverages Market: Overview
More and more people are eating and drinking out today. As more people see longer work days, they are less eager to cook at home. So, it doesn’t come as a surprise that the shift is massive and has a sub-shift within it. The sub-shift is birthed by a need to eat out and still be healthy. It mainly due to high consumer focus on wellness.
Therefore, fusion beverages, that fuse wholesomeness with great taste, will see high growth in demand in the forecast period of 2019-2027. The market would see a notable growth, generating considerable opportunities in the market.
With fusion beverages companies eyeing future gains accruing from the said shift, competition in this beverage market is set to rise.
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Global Fusion Beverages Market: Notable Development
The global fusion beverages market has innovation in new products at the centre of their growth story for obvious reasons. Some of the developments that highlight the focus are outlined below.
2018 – ZICO Beverages came up with COCO-LIXIRS. This was their attempt to make the most of increased in demand for coconut water. This was an organic and cold-pressed drink, that had organic coconut water added to it. It is a textbook instance of product development for adapting to consumers’ ever changing preference.
2019 – Coca Cola identified the trend of demand for multisensory experience. This included millennials asking for a flavours burst from beverages. And, thus the company created ‘Coca Cola Plus Coffee beverage’. The unique, one of a kind, coffee drink had undertones of caramel to give the drink said explosiveness. The launch brings to fore the requirement for brands to be proactive to understand what is asked for and develop products accordingly.
The global fusion beverages market is slightly fragmented and key players in the market landscape include Coca Cola, PepsiCo, Campbell, Danone, etc.
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Global Fusion Beverages Market: Key Trends and Drivers
The global fusion beverages market has growth factors setting the future trajectory for gains. Some of the major ones are stated below.
- There is a concerted effort observed across the market to improve packaging by combining form with function. Besides, as millennials are looking for personalized messages, this space therefore can become the canvas for story-telling for brands. And, this can also be made the platform building a loyal consumer base if carried out right.
- There is hustle to catch up on what millennials ask for. And, this has led to realizing that they want tailor made experiences and that they care for the environment and whether or not the profits made by the company reached the last member on the lowest rung of the production hierarchy. It is not just an counteraction to one-size fits all but a shift in mentality where everyone involved in corporate biz. Is held accountable.
Global Fusion Beverages Market: Regional Analysis
One of the most dominant regions in the global fusion beverages market will be North America, owing to one of the most hectic work days experienced, and high standard of living. Besides, the region is home to some of the most influential players.
But the region that will create an impressive amount of growth opportunities over the forecast period is the Asia Pacific region which is witnessing economies doing well, improving standard of living and thus disposable incomes. Besides, players are already scurrying to make the best of the situation.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.