The $ 370 billion carbonated non-alcoholic beverage market by 2027
New York, United States, June 28, 2021 (GLOBE NEWSWIRE) – Soft drink market overview
According to a comprehensive research report from Market Research Future (MRFR), âSoft drink market Information by flavor, packaging type, distribution channel and region – Forecast until 2027,âThe market is expected to reach $ 370 billion by 2027 at a CAGR of 3.80%.
Future Market Growth Factors:
Today’s consumer is largely convenience-prone, with a large portion of their purchases consisting of take-out items rather than traditional bulk items. This has prompted manufacturers to focus on developing long-lasting drinks with environmentally friendly packaging made from renewable and sustainable materials. Non-alcoholic carbonated drinks are now being developed in a way that responds to the growing health awareness of consumers, with an emphasis on innovations with natural ingredients that are low in calories, sugar and sugar. As a result, stevia sweeteners are in higher demand than traditional sweeteners and appear as the latest trends in the world market.
The preference for take-out soft drinks is not expected to slow down in the near future, giving way for dynamic and creative packaging styles to grab the attention of more consumers. Consumers pressed for time are increasingly opting for products that help them maintain their active lifestyles, and as a result, convenience trends are expected to drive sales of ready-to-drink beverages such as soft drinks.
The significant popularity of online food delivery and e-commerce platforms due to the benefits including discounts and cash on delivery features will provide attractive opportunities for manufacturers to reach more consumers.
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Key Player Lock Horns:
The main companies in the carbonated soft drinks market are:
- PepsiCo, Inc. (US)
- The Coca-Cola Company (United States)
- National Beverage Corp. (United States)
- Reeds Inc. (United States), Jones Soda Co. (United States)
- Appalachian Brewing Company (United States)
- The Asahi Group (Japan)
- Bickford’s Australia Pty Ltd (Australia)
- F&N Foods Pte Ltd (Singapore)
- Cott Corporation (United States)
- Tru Blu Drinks (Australia)
- Suntory Holdings Ltd. (Japan)
- Keurig Dr Pepper Inc. (United States)
- Britvic Soft Drinks Limited (UK)
- PostobÃ³n SA (Colombia)
The soft drink industry is marked by intense competition, with companies mainly focusing on improving their ranking in the market by strengthening their product lines and introducing new flavors. Strategic divestments, mergers, acquisitions and deals are the primary marketing tactics adopted by manufacturers striving to expand their customer base. Expanding production capacity through acquisition and partnership remains another key competitive strategy typically undertaken by companies to further establish themselves in the market.
Browse the in-depth market research report (90 pages) at Soft drinks: https://www.marketresearchfuture.com/reports/carbonated-soft-drinks-market-7861
Market segmentation :
The soft drink industry was considered for flavor, type of packaging, and distribution channel.
The flavors listed in the report based on the soft drink market include orange, lemon and lime, cola, and others. The cola segment is expected to achieve the leading position and the fastest growth rate over the next few years. Cola is the most popular flavor in the US market, given the establishment of the coca cola brand in the country and the refreshing flavors offered by the brand that meet the demand for innovative, non-traditional and unique soft drinks. among the masses.
Depending on the type of packaging, the main segments can be boxes and bottles. In 2018, the first place was acquired by the segment of bottles, due to the growing demand for this type of packaging among consumers. Manufacturers are gradually turning to PET bottles instead of glass bottles because the former are much lighter and save storage and transportation costs.
The main distribution channels selling carbonated non-alcoholic beverages in the global industry are in-store and off-store. The types of in-store distribution channels are hypermarkets and supermarkets as well as convenience stores etc. In-store channels form the largest segment of the global market, however, it is the non-store segment that will reach a faster CAGR in the near future.
The soft drink industry has been studied geographically in relation to Europe, North America, Asia Pacific / APAC, and the rest of the world / the rest of the world.
North America is expected to continue to prosper at a rapid pace and secure global market leadership over the next several years, given the strong presence of many renowned manufacturers and the expanding HNWI population. The growing consumer inclination for carbonated soft drinks encourages players to innovate in terms of appearance, taste, ingredients and texture, to gain the attention of a wider range of customers. The soft drinks are mainly designed for the elderly and children in the region, tailored to their needs, which helps companies not only to strengthen their sales, but also to promote the growth of the market.
APAC is considered to be the fastest growing market during the evaluation period, thanks to changing lifestyles and the explosion of the urban population. Growth in disposable income, expansion of the financial sector and the continued launch of new products in China, Japan and India are expected to facilitate industry growth. The APAC market should also benefit from the emergence of various delivery aggregators such as Swiggy and Zomato, particularly in India. The popularity of these food delivery services, supported by the increasing use of smartphones and the increasing adoption of modern technologies such as voice assistant applications, has benefited the Indian soft drink market.
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PepsiCo introduced its latest line of energy drinks known as Mtn Dew Rise Energy, which should appeal to new consumers who typically opt for juice or coffee. One can of Mtn Dew Rise Energy has almost the same caffeine content as two cups of coffee. The drink also contains zinc as well as vitamins A and C which boost the immune system, while a main ingredient in the drink is citicoline which helps promote memory. The new range will be sold in six flavors, namely Orange Breeze, Pomegranate Blue Burst, Tropical Sunrise, Strawberry Melon Spark, Peach Mango Dawn and Berry Blitz.
Pepsi recently launched Pepsi Mango, a new flavor in the United States, which contains rich caramel and bright citrus notes with a strong inclusion of mango. The carbonated soft drink is available in sugar-free and regular varieties across the country.
Developments after the COVID-19 outbreak
The impact of the COVID-19 pandemic on the soft drink and carbonated beverage market has been brutal, with the lockdown forcing the shutdown of manufacturing facilities and weakening consumer demand for non-essential items. Gamers are facing loss of income due to travel bans after the SARS-CoV-2 outbreak, and the economic downturn has been seen in almost every country in the world.
However, with the novel coronavirus under control, actors can now continue their activities and focus on strengthening their supply chains. In addition, the importance of the e-commerce sector and the popularity of food delivery services will cause the soft drink industry to experience a significant revival in the years to come.
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