Global Fusion Beverages Market: Overview
In this day and age, eating and drinking out is a lifestyle. But, there is a shift within this shift – people are looking for wholesome options in both packaged food as well as options in restaurant menus. And, this shift is based on consumer’s focus on wellness.
Therefore, fusion drinks, that combine health with taste, will see a jump in demand in the forecast period of 2018-2018. The market would see a notable growth, increasing market value by a decent amount.
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With fusion drinks market players jumping in the fray to make the most of the said shift, competition in this vertical is set to rise.
Global Fusion Beverages Market: Notable Development
The global fusion beverages market has product development at the heart of it. Some of the developments in tune with it are stated below.
2018 – ZICO Beverages launched COCO-LIXIRS to tap into the growth opportunity created by an increased demand of coconut water. The organic, cold-pressed juice along with organic coconut water is a classic example of product innovation to suit consumers’ dynamic demand.
2019 – Coca Cola identified the demand for multisensory experience from beverages and created ‘Coca Cola Plus Coffee beverage’. It was a first of its kind coffee drink that has subtle tones of caramel. The move highlights the need for players to be on their toes to pick up and build on any change in taste and preference of consumers.
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The global fusion beverages market is slightly fragmented. Ley players include Coca Cola, PepsiCo, Campbell, Danone, etc.
Global Fusion Beverages Market: Key Trends and Drivers
- Much attention is being allocated to product packaging. The main focus is to combine function and form with design. Marketing teams have their energies directed at understanding colours, fonts and characters that would grab attention of the target audience. Besides, since convenience is the philosophy that most people today are following religiously, easy tear and pouch packaging are making headway in the market. Also, as consumers are more aware of what they are taking in, clean labels with clear information are becoming a priority. To top it all, packaging has become a storyboard where company’s values are spelled out in a catchy manner as this is proving an effective tool to capture loyalty.
- Personalisation is the word millennials swear by. And, therefore development of drinks with a tinge of the personal factor is quickly catching on. The clamour for tailor made experiences is the perfect antidote for one size fits all approach that the new Gen absolutely despises. The differences are therefore called on in the form of customised nutrition variants, flavours, history behind ingredients and even social factors like whether or not the growers of a particular ingredient got his fair share of the profit.
Global Fusion Beverages Market: Regional Analysis
North America will be a leading region owing to hectic lifestyle, good levels of disposable income and presence of some of the biggest players in the market.
One of the most noteworthy regions in the global fusion beverages market will be Asia with its millennials opening floodgates to demand. Particularly, an increase in the demand for drinks with natural ingredients is predicted in India, China and Japan. A well-known UK-based beverage company by the name of DRGN is already eyeing the market. It has launched drinks that use east Asian ingredients and fused it with western science.
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