Owing to growing consumer needs and their awareness about the
fundamental needs for nutrition and proactive measures to prevent chronic
ailments and attain well-being, demand for fortified beverages has grown in
recent years. The growth has been driven by the increased acceptance of health
& wellness products amongst the consumers and their motivation on improving
immunity. With growing health concerns and rising per capita health care cost,
there has been surge in demand of fortified beverages consumption and consumers
indulging in the pursuit of healthy buying goes for fortified beverages as
fortification of beverages involves the process of adding micronutrients to
beverages which are generally consumed by the different age group consumers.
Fortified
Beverages Market Revenue
Fortified Beverages market holds a bright spot in the beverage
space. .Fortified Beverages demand will grow at a progressive rate in the
developing nations. The notion of good-for-you nutrients on the go is primarily
driving the growth of the market and future growth in fortified beverage market
is expected with the integration of ingredient suppliers, beverage
manufacturers and consumers. Manufacturers are focusing on sourcing
high-quality ingredients to meet consumer demand. With an increasing
demand for new flavors, market players are constantly innovating to meet the
changing tastes and demand of the consumers. With the rapidly changing tastes
and preferences of consumers, the demand for new and exotic flavors is growing.
Latest Industry Updates
March, 2017: Vega US LLC introduced Vega Protein+ Shake,
a ready-to-drink plant-based protein product
November, 2016: Brengman Bros. Winery introduced Piccolo
Dito, a line of fortified wines, in select markets
Global Fortified Beverages Market - Competitive
Analysis
Fortified Beverages industry is highly competitive and marked
by the presence of various large and small vendors competing based on price,
quality, innovation, reputation, and distribution. Most of the companies
operating in the market are focusing on new product development as well as
expanding its their product line, augmenting its capabilities and investing in
research and development to offer products with better functionality.
With strategic investments, market players can focus on penetrating into
the developing economies to expand their business portfolio. Consumers in
developing countries are keen on exploring new product range offered to them
and form a large consumer base. Establishing market in these emerging economies
is profitable based on relatively low set-up costs, ease of doing business, and
further lower variable cost to be incurred.
Industrial players are keen to leverage on the recent trends
in the market including altering consumer spending patterns, consumer tastes,
regional, national, and local economic conditions, and demographic shifts.
Industrial players are also involved in the acquisition of smaller players
which will further support the company to expand and reach out to consumers
across the regions, the end-user industries are inclined towards product
promotions through social media, magazines and other mediums in order to reach
out to customers. The promotional strategy aids in retaining the existing the
customers and also to regenerate new customer base. Major industrial players are
innovating and introducing new and unique flavors to attract and cater to the
fluctuating demand of the consumers.
Global Fortified Beverages Market - Regional
Analysis
The global Fortified Beverages market is segmented into North
America, Europe, APAC, and Rest of the World (RoW). Global Fortified Beverages
market is highly dominated by North America region is expected to retain its
dominance throughout the forecast period. Europe is also estimated to
contribute to high revenue in the fortified beverages market. However, Asia
pacific is projected to register maximum CAGR during the forecast period owing
to increasing per capita disposable income coupled with the changing lifestyles
of the consumer in the region. Countries such as China and India offer a
lucrative opportunity in the Asia Pacific region for the fortified beverages
manufacturers. Latin American region is also projected to show a high potential
in the fortified beverages market.
Complete Report Details @ https://www.marketresearchfuture.com/reports/fortified-beverages-market-2960
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