Beverage flavouring systems market grows
The beverage flavouring systems market has been witnessing exponential growth over the past few years.
According to a report by Global Market Insights, Inc, the beverage flavouring systems market is set to grow from its current market value of more than $4 billion to over $5.7 billion by 2024.
With growing interest in nutritional products coupled with evolving food consumption patterns globally, the beverage flavouring systems market has been witnessing exponential growth over the past few years.
Consumers are gradually accepting new products and the industry is consistently working to adopt innovative approaches by adding naturally-sourced fruit juice and ingredients in numerous non-alcoholic offerings and sports drinks.
The demand for flavour-rich products is rapidly growing as more consumers are inclining towards beverages with product formulations that offer health benefits. These trends have encouraged the production of organic products and will positively transform this market’s dynamics in the imminent future.
The natural beverage flavouring systems market is expected to witness the fastest growth over the 2019-2025 forecast timeframe. Mergers and acquisitions are being undertaken on a consistent basis to expand the natural and nutritional portfolio of companies and enhance value of beverages.
This will help meet the demand of natural flavours from consumers, ensuring that the market will gain significant traction in the forthcoming years.
The beverage flavouring systems industry holds vast potential across both alcoholic and non-alcoholic applications.
Most beverage flavouring companies perceive a rapid trend among consumers as they are shifting focus on health-related food products. Some of the most popular observations of 2018 which could outline preferences over the coming years include the use of ingredients like mushroom, collagen, and functional botanicals.
Consumer interest is increasingly drawn towards functional beverages as these drinks deliver healthy ingredients like aloe vera, matcha, activated charcoal, and melatonin. The beverage industry is able to bring vital supplements and vitamins through natural ingredients which benefit users in the long run.