The beverage market is one of the largest growing markets in the FMCG sectors. With numerous variants of beverages evolving in the market, this has led to growing the industry. The beverage market(non-alcoholic) segment is expected to grow at a CAGR of ~18.69% during the FY 2022-FY 2027 (Source: Research and Markets).
With this consumption growth, many entrepreneurs are investing in this segment. But the most common question asked by the entrepreneurs is, how quickly I can launch my beverage in the market?
The answer is that it all depends on several variables like planning, coordination, and decisions required to build a successful beverage brand. But not every beverage project needs to be a tedious launch with the right partner you can reduce turnaround time along with risks & costs.
Here are some of the significant milestones for a successful beverage journey.
Product Vision & Ideation:
Before approaching the right partner, it is extremely essential to do your groundwork and understand the market for your product than the next few stages become more hassle-free.
Developing your Formula:
Creating a formula is the same as creating a blueprint for your brand. Your formula defines how practical and successful your beverage business will grow. Developing your formula includes flavor, shelf life, ingredient availability, cost-effectivity, and resource modulation.
Projecting your beverage cost:
Knowing how much your product will cost is very much crucial to understanding pricing and growth decisions in the future.
Sourcing Raw Material:
After the phase of formulation, you need to then map various suppliers for raw materials that can help you stay competitive and ensure consistent quality.
A pilot run of your Product:
A pilot run of the product is very essential before taking the commercial run which helps you to be better prepared for the product launch. Pilot production helps you in product validation, sampling and risk reduction, process management avoiding last-minute fire-fighting & wastage of expensive Raw Materials
The Commercial Production:
Once you are ready with the formulations and pilot run the time has finally arrived when your product is all set to go for commercial production.
Reviewing your Beverage:
Finally, you have the ready product in your hand and once the product is out in the market it is extremely important to review your beverage and make changes if required before the next batch of production. Evaluating your beverage regularly is always a good habit to keep improving your product with which you can give consistent value addition to your brand.
Organico Beverages is a dedicated firm to help entrepreneur’s/brand owners in providing solutions from beverage development to beverage manufacturing. Get ready to roll out your beverage brand with our technical expertise & allow the world to taste your dreams.
