High Strength Premixes Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 - 2029
Global High Strength Premixes Market: Overview
High strength premixes are gaining popularity among the worldwide population owing to growing acceptance for ready-to-drink cocktails. Rising trend to use healthy low alcohol products has promoted the use of high strength premixes among health-conscious people. Moreover, changing lifestyle has boosted the demand for these beverages globally. Many key players in the global high strength premixes market are applying different strategies such as launch of innovative products. These efforts are helping them not only to maintain their existing customers but also to attract new ones. This move is projected to fuel the demand for high strength premixes.
Broadly, the high strength premixes market is segmented into wine based RTDS (ready-to-drink), malt based RTDS (ready-to-drink), and spirit based RTDS (ready-to-drink) product types. This segmentation is based on the key content present in these beverages. Important sale channels for the high strength premixes market are modern trade, specialty stores, online stores, duty-free stores, and other sales channel.
Global High Strength Premixes Market: Growth Dynamics
High strength premixes are well liked owing to low contents of alcohol in them. Major population has shifted to use these beverages instead of other alcoholic products. This move has pushed demand for these beverages in overall population. Changing consumer preference is one of the important factors behind the popularity of these drinks.
Growing awareness about the health benefits of these beverages is one of the key features triggering their demand. Key consumer of these beverages is youth population. Growing demand from this user base is expected to push the high strength premixes market growth in the upcoming period. The market is also projected to witness profound growth due to changing alcohol consumption habits. Moreover, easy availability of these beverages through online channels is expected to drive the market for high strength beverages.
However, there are some key points that might slow down the growth of high strength premixes market. The list of hindering factors includes extremely high taxes, religious/cultural beliefs, and strict rules and regulation on advertising of these beverages.
Global High Strength Premixes Market: Notable Development
The market for high strength premixes holds remarkable growth avenues. Many companies involved in the high strength premixes market are using strategic moves such as acquisitions and partnerships. These moves are helping them to widen presence in additional regions. For instance, Asahi Group Holdings announced acquisition of 100% shares of AB InBev’s Australian business. This move by Asahi Group is expected to help it in strengthening its footprints in Austrian market.
Besides, Mark Anthony Brewing’s latest announcement is similar instance showing firm’s efforts to grow its worldwide presence. In the recent announcement, the company announced huge investment of about $385 million. While this investment will be focused on creating two additional production facilities for the firm, this move will help company to reach nearby markets.
The high strength premixes market holds many key vendors, which makes this market highly fragmented. At the same time, this signifies that the high competition levels in it. The list of important players includes:
Global High Strength Premixes Market: Regional Assessment
Among key regions, Asia Pacific is one of the dominant markets for high strength premixes due to presence of countries such as Japan, which holds high rate of consumption of these beverages. North America also represents strong growth avenues for the high strength premixes market owing to social acceptance of alcoholic beverages. Other regions contributing to the growth of this market are Europe, Latin America, and Middle East and Africa.
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