Latest News:- Packaged Turmeric-Based Beverages Market: Offline is expected to lead the Distribution Channel segment during 2024-2028

Packaged Turmeric-Based Beverages Market to grow at a CAGR of 3.5% during 2024-2028

The Packaged Turmeric-Based Beverages Market is expected to grow at a CAGR of 3.5% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 128.1 million. The vegan lifestyle, which prioritizes plant-based food consumption for health benefits and ethical reasons, has gained significant traction globally. This shift in consumer preferences positively influences the market for packaged turmeric-based beverages, such as golden milk, juices, elixirs, and teas. Consumers committed to veganism, driven by ethical considerations for animal rights and environmental sustainability, are increasingly seeking out plant-based alternatives. This trend is expected to continue, bolstering the growth of the packaged turmeric-beverage market. 

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The Offline subsegment is expected to dominate the Distribution Channel segment during the forecast period 

Technavio analysts predict that the Offline subsegment will lead the Distribution Channel segment during 2024 and 2028 The Packaged Turmeric-Based Beverages market represents a significant growth opportunity for businesses. This sector is witnessing increasing demand due to the health benefits associated with turmeric, such as anti-inflammatory and antioxidant properties. Market trends indicate a shift towards functional beverages, making turmeric-based drinks an attractive proposition for consumers seeking healthier alternatives. Companies are investing in innovation, product development, and marketing strategies to capitalize on this trend. The market is expected to experience robust growth in the upcoming years.

Here are the various ways based on which the market is segmented: 

• Distribution Channel
  • Offline
  • Online
• Type
  • Health and wellness
  • Pharmaceutical sector
• Geography
  • APAC
  • North America
  • Europe
  • South America
  • Middle East and Africa

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There are several factors that are causing the market to flourish rising awareness about health benefits of turmeric-based beverages

Learn which are the obstacles that the market is experiencing in the way of its growth by accessing the free PDF report

Research Analysis Overview

The Packaged Turmeric-Based Beverages Market is witnessing significant growth due to the increasing popularity of functional foods and consumer preference for natural health supplements, particularly Curcumin. The market includes various product categories such as Turmeric-based Juices, Sparkling Waters, Teas, and Lattes. Companies like Himalaya, Dabur, and McCormick are leading the market, evaluated in the Company Evaluation Quadrant. The market is expanding through various channels, including Electronic Commerce, Convenience Stores, and Supermarkets. Consumer preferences for Organic Products, Customization Options, and Plant-based Alternatives are driving the market. Regulatory environments, Raw Material Prices, Inflation, Food Safety Regulations, and Supply Chain Disruptions pose challenges. Technological Advances, such as Blockchain Technology, are being adopted for traceability and transparency. Joint ventures and collaborations are common strategies for market expansion. Sustainable Packaging and Functional Foods are key trends. Millennials, with their preference for convenience and health, are a significant consumer base. Despite these opportunities, the market faces challenges like inflation, regulatory complexities, and supply chain disruptions.

Market Research Overview

The global packaged foods and meats market encompasses vendors engaged in food processing to ensure microbial elimination and shelf life extension. According to Technavio, the market's size is determined by the consolidated revenue generated by participating vendors, excluding those specializing in food processing equipment manufacturing. This market segment does not include producers of packaged alcoholic and non-alcoholic beverages, including mineral waters. Key growth drivers for the global packaged foods and meats market include the health benefits linked to minimally processed foods, such as vegetables, which are abundant in essential nutrients like potassium, dietary fiber, folate (folic acid), vitamin A, and vitamin C.

The Packaged Turmeric-Based Beverages Market is experiencing significant growth, fueled by the rising awareness about health benefits of turmeric-based beverages. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
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