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.
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