According to a report published by Zion Market Research, the global breakfast drinks market accounted for US$57.17 billion in 2018, and is expected to reach around USD 83.83 billion by 2026, at a CAGR of around 4.9% between 2019 and 2026.
Growing health consciousness and demand for more vitamins and minerals at breakfast time is the primary factor propelling the breakfast drinks market globally. However, consumer preference for fresh drinks over packaged ones and high product demand with low availability may restrain the market. 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.
North America is dominating the global breakfast drinks market, due to the high income per capita of the region’s population, whilst the European market is expected to register a moderate rate of growth over the forthcoming years, partially due to the growing number of gyms and yoga centres as part of a busy lifestyle.
The Asia Pacific region is expected to witness significant growth in the breakfast drinks market owing to the convenience offered by these products for rapidly urbanizing cities.
© FoodBev Media Ltd 2019