Rapidly rising population, changing lifestyle, increasing spending power, changing eating habits, and inclination towards the western culture drives the market growth. Increasing awareness among the individuals regarding the benefits associated with powdered beverages provides an impetus to the market growth. Shifting consumer preference towards organic foods has compelled the manufacturers to develop plant-based drinks, further driving the market growth.
Impact of COVID-19
The coronavirus has severely hit the food & beverage industry across the globe. Today, the market has come to a complete halt due to the disruption in the global supply chains, further decelerating the production of food & beverages. The customers are gradually shifting towards home-cooked food, which might hamper the market growth to some extent. The food & beverage chains are offering their products to the retailer to generate substantial revenue. The pandemic has also affected the agriculture output across the globe, leading to a shortage of basic food commodities, such as wheat and rice, among others, further hampering the market growth.
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Powdered Beverages Market Segmentation
By Distribution Channel
Central and South America and the Caribbean
The Middle East
" Crucial Insights The Report Provides:"
* Known and Unknown Adjacencies Influencing the Growth of Market
* Explorable Revenue Sources
* Customer Behaviour Analysis
* Target Partners
* Customized Geographical Data Based on Customers as well as Competitors
* Analysis of Market Size and CAGR between the Forecast PeriodsView Full Report Buy This Report Now