Solid beverages are manufactured from raw materials such as fruit juice, plant extracts and sugar, and have a water content of less than 5%. The dried raw materials are ground into fine powder and then mixed with formula products, or are directly spray dried into powder. The finished product is usually in powdered form that is dissolved in water to make the preferred drink ready to consume. Though solid beverage is a simple drink, it should not be reconstituted with hot water because the nutrients that it contains would break down at high temperatures, thus defeating the purpose.
The global solid beverage industry market is boosted by certain key driving factors. Solid beverages are inherently rich in vitamins, minerals and other nutrients. The consumption of these drinks replenishes the metabolism rate. Besides, the leading manufacturers in the global market are offering innovation in terms of a diverse product line such as fruit flavored drink, protein based drinks. As a result, the beverages are launched in various new varieties of flavor, thus attracting a broader base of consumers, especially in the emerging economies.
However, there are some restraints which impede the growth of this market. Solid beverages generally have a relatively higher chemical content than traditional beverages. Consumption of these drinks in large quantities on a regular basis has considerable health consequences likes weight gain, high sugar intake. Certain solid beverages have artificial flavors and color concentrate added in it. This makes the consumption unsafe on daily basis. If consumed daily it might lead to weight gain. Kids and mid age people should consume it less. Additionally, solid beverages are associated with several health problems including diabetes and various others. This can reduce solid beverage consumption, which in turn would impede the growth of the market. Moreover, the aqueous solution of vitamin C in the air gets oxidized rapidly. In spite of the hindering factors, the global solid beverage market is expected to witness decent growth rates in the coming years.
One of the main reason behind the growth of solid beverage is its high demand among consumers. Availability of the same in a variety of flavors has lured a broad base of consumers, most of which fall in the young age group. Further, the demand for solid beverage products is significantly high in tropical countries, where they consumed in abundance during summertime in order to beat the heat.
Based on type, the market is categorized into fruit flavored drinks, and protein based drinks among others. The fruit flavor drinks are mainly based on juice, sugar and nutrition which help to enhance the drinks with color, smell, taste and other sensory characteristics. In addition, based on distribution channel, the market is classified into online stores and offline store. Offline stores are inclusive of supermarkets & hypermarkets, convenience stores and departmental stores among others. .
On the basis of geography, the global solid beverage industry market is segmented into North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America. Established regions have been generating high profit margins for key players in this market. For instance, North America and , Europe have been the major driving forces of the global market. Further, the developing countries in Asia Pacific such as India and China among others are fair contributors to the growth of this market. High population, rapid urbanization, and increased purchasing power of the consumers are key factors pushing the demand for solid beverages.
The global solid beverages market is marked by intense competition from the major players operating in this field. Frequent mergers and acquisitions, joint ventures and partnerships, product innovations are the key strategies adopted by these players to ensure long term sustenance in this market. PepsiCo, The Coca Cola Company, Abbott Nutrition, and GlaxoSmithKline Plc are some of the key players operating in this market.
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.