Nowadays, consumers does not drink liters of lemonade and other high-calorie carbonated beverages. Today,non-alcoholic beverages should not only taste great, but should also score as a “functionaldrink” with some added ingredients, suchas vitamins or minerals, that support an active lifestyle and consciously as part of a balanced diet. Non-alcoholicbeverages are enriched with functional ingredients such as plant-based protein drinks, are particularly popular with athletes, vegetarians and vegans, but also specialtybeverages that contribute into the normal functioning of digestive enzymes or maintaining normal cognitive function, currentlyfulfillsan importantneed of the conscious consumer and to a large extent determines the beverage trends.
Thereforelow-caloriecarbonated drinks remain very popular now a days. In theage ofanti-aging and the need for”youthforever”among many, drinks contain ingredients such as collagen in the mixcompounds are delicious, but also containsome fiber or some selected secondary phytochemicals,which are promising for the development of new products. In the rightquantities, they can contribute to a holistic and conscious lifestyle that does not accelerate the natural aging process.
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Companies Covered: Danone, Jones soda co., Keurig Dr Pepper Inc., Monster Energy Company, National Beverage Corp., PepsiCo, Refresco Group, Sodastream International ltd., Suntory beverage & Food Limited, The Coca-Cola Company
COVID-19 Impact analysis
During the COVID19 pandemic, due to government regulations aroundthe world such as lockdowns and social distancing have affected all the markets. AS, a result, Soft drink market was also widely disrupted because of disturbed supply chain and closure of restaurants. Dueto a labour shortage, it was difficult for Soft drink panel manufacturers to complete the project on time. In addition,many manufacturers have difficulty sourcinglow-cost raw materials due to supply chain instability and the closure of manufacturing units due to contract consequences.
Additionally, the pandemic has also affected the global transportation and logistics, which faced economic stress due to cash flows, labour shortages, fewer contracts and other problems,which has resulted to the reduction of employees and decline in the worldtrade volume.
But due to the taste and flavours of these instant Soft drink snacks, it was widely consumed by the people even in the lockdown. It is an easy and instant snacks which is mainly liked by people of all age group. Hence, its consumption is widely increased and will further help to grow food industries also.
Top Impacting Factors
The growing popularity of snacks and fast food industry is also a major driver for the growth of the globalSoft drink market. Customized and convenient packaging for these food are in combo packs are also contributing to the growth of the Global Soft drinks market.
Another factor that isexpected to drive the growth of the soft drink marketisthe growth ofe-commerce and organized retail stores. There are high demand of food products and ingredients in online market. As now the deliveries are prompt and variety of products are available, it is best to buy online.
Increase in the consumption of fresh and healthy drinks because of their bright colors that enhance the flavour and visual appeal to the drink. Due to these factors, there is an increase in thedemand for these Soft drinks market.
The negative effects of chemical foods, consumer preferences have shifted towards organicingredients.Therefore, manufacturers are also focusing on the development of organic ingredients for production. Botanicals in foods, beverages and dietary supplements are attractive to consumers because, being natural ingredients with different functional properties depending on the ingredients they contain, they correspond to attributes that consumers are looking for in these markets.
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Market Trends
Growth in the Demand for Fast Food Industry
Growing demand for instant snacks and fast food industry is expected to drive demand for Soft drinkover the next decade. It is alternative for mayonnaise and other Soft drinks and can therefore be used in preparation of Chinese and other foods. It is expected to boost the global Soft drinkmarket during the forecast period. Soft drink has less than half the calories and fat than mayonnaise. Also, due to the increased concentration of sugar and salt compared to mayonnaise, using a small amount of this can make abig difference. This factor is expected to boost the global Soft drinkmarket during the forecast period.
The factor driving the global Soft drinkmarket is its lower cost than other substitute products available in the market. The factor thatcould hamper the global Soft drinkmarket during the forecast period is consumer preference for other alternatives such as alcoholic drink. But overall, the outlook for the global Soft drinkmarket is expected to be positive over the next decade.
Markets are mainly dominated by South America
The high popularity of carbonated non-alcoholic drinks among youngpeople in countries suchas Brazil, Argentina and Venezuela is expected.stimulate the regional market in the near future. Growing disposable income, rapid urbanization and sudden expansion of financial sectors and launch of new products in countries such as Nigeria and Kenya, are expected to remain favorable factors for the growth of the industry.
Here manufacturers have a great opportunity to grab an outsized consumer base in these regions. Manufacturers are creating awareness among the consumers through knowledge based advertisements in order to incline an outsized number of health conscious people towards these seeds. Due to these factors, there is a surge in Soft drink market.
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Key Benefits of the Report
This study presents the analytical depiction of the SOFT DRINK industry along with the current trends and future estimations to determine the imminent investment pockets.
The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the SOFT DRINK market share.
The current market is quantitatively analyzed from 2020 to 2030 to highlight the SOFT DRINK market growth scenario.
Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
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