USA – Global breakfast drinks market including gluten-free, starch, lactose-free, high fibre and high protein is expected to reach US$83.83 billion by 2026, growing at a CAGR of around 4.9%, according to a new report by Zion Market Research.
In the year 2018, the report indicated that the market accounted for US$57.17 million, characterized by the growing trend towards healthier beverages.
Going ahead, the breakfast drinks segment will be propelled especially by demand for products that meet the nutritional requirements of consumers including minerals and vitamins.
The global drinks market is also driven by the growing health-consciousness among consumers, rising awareness about the benefits of nutritious breakfast drinks as well as rapid distribution on e-commerce websites.
The report notes that technological advancements along with growing demand for niche market products are expected to provide new growth opportunities for the key market players in the upcoming years.
The market may, however, be restrained by consumer preference for fresh drinks over packaged ones and high product demand with low availability.
“The breakfast drinks market is fragmented based on product offering, packaging, and flavor,” noted the report.
“But the ease provided by these packaging styles has made the consumers trust these products and alter their preference. Different product varieties are on the basis of different needs of the wide range of consumer categories.
“The packaging segment of the breakfast drinks market includes carton and P.E.T. Based on flavor, the market includes banana, strawberry, coffee, chocolate, and others.
“The various available flavors give consumers a wide range of options to choose from and enable them to taste and enjoy the variety.”
Quality, nutrition and convenience are key drivers
Leading in the breakfast drinks market is North America attributed to high income per capita of its population.
Consumers in this market are said to have a preference for quality as well as packaged products thus, experiencing increased demand for premium-priced breakfast drinks.
This market segment is expected to further grow as a result of regional technological advancements.
According to the report, two in every five U.S. consumers are replacing their breakfast with nutritious and formulated drinks.
In Europe, the breakfast drinks market is expected to register a moderate rate of growth due to growing demand for formulated supplementary drinks, the presence of several key players, and growing number of gyms and yoga centers.
This market will be boosted by Germany where, according to the report, breakfast is considered as the most important meal and most of the consumers have substituted it with these healthy drinks.
In Asia Pacific, where urbanization is rapid, the market is expected to record significant growth due to convenience offered by the drinks.
China and India will dominate the market as consumers adapt to nutritious health options.
China, South Korea, and other Southeast Asian countries are quickly adopting formulated supplementary drinks for breakfast.
