In its endeavor to deviate from its status of high-priced coffee drinks seller, the Seattle-based Starbucks Corp will soon give some competition to bigwigs like Nestle and Kraft Foods by venturing into the instant coffee arena. Starbucks says that instant coffee has a $17 billion global market; the product being a staple in parts of Asia and Europe, though waning a bit in the US.

To be uncovered on Tuesday, Starbucks' instant coffee - Via - will announce its market appearance within a few days, after a next week event for launching the new instant product in New York and other cities.

According to the company, the instant coffee project was in the pipeline for over two decades. Starbucks' senior vice president of public affairs, Vivek Varma said that the instant coffee technology developed by the company "absolutely replicates the taste of Starbucks coffee in an instant form."

As regards the cost, three single-serve packets of Via instant coffee packets will be priced at $2.95, 12 packets will cost at $9.95.

In the opinion of analyst Tom Forte, of Telsey Advisory Group, Starbucks' move to launch instant coffee would give the customers "an opportunity to experience the brand at a lower price point. The company is being aggressive in trying to generate sales in an increasingly weak economic environment."