Newark, NJ, May 26, 2021 (GLOBE NEWSWIRE) – According to the report published by Fior Markets, the global soft drinks market is expected to increase from $ 923.06 million in 2020 and reach $ 1,732.7 billion by 2028, with a CAGR of 8.19% during the forecast period 2021-2028.
The non-alcoholic beverage market has experienced significant growth in recent years. The global beverage industry is undergoing a tsunami of fundamental change, and it is constantly evolving in response to the growing social and cultural roles of the market. Soft drinks make up more than half of the entire beer industry, with a steady upward trajectory in recent years. Due to the increasing prevalence of soft drinks and civilization among human populations, the industry offers investors a holistic view of the business. Manufacturers have been allowed to expand their manufacturing capacity globally as tariffs and tariff restrictions have been reduced in the overseas market.
Drinks containing less than 0.5% alcohol by volume are called non-alcoholic drinks. These drinks have a variety of roles in the human body, including hydration and providing an abundant supply of nutrients. Non-alcoholic drinks contain the sugar and calories needed to increase energy levels. Various international and national regulatory bodies oversee the soft drink industry around the world. Water and electricity, both considered scarce, are widely used by companies in this sector. Changing consumer preferences and increasing consumer health awareness are increasing the consumption of functional beverages, due to the increasing prevalence of non-alcoholic beverages in countries where alcohol prohibition laws are enforced, such as Kuwait, Saudi Arabia and Iran.
Factors driving the market include adoption of innovative drinks to support human hydration, emergence of nutritional drinks, and evolution of e-commerce platforms will help increase revenue. Factors limiting the market include disruptions in the availability, price and functionality of natural resources which are expected to hamper production capabilities in the market. In addition, due to the global spread of the COVID-19 pandemic, the global demand for non-alcoholic beverages is experiencing a sharp decline in the sales and consumption of non-alcoholic beverages. Emerging markets, as well as the changing appetites of customers following the introduction of new technologies, offer many opportunities for business development in the years to come.
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Major players in the global soft drink market include PepsiCo, Inc. (New York, USA), Nestle SA (Vevey, Switzerland), Appalachian Brewing Co. (Harrisburg, USA), The Kraft Heinz Company, Dr Pepper Snapple Group, Inc. (Texas), Reed’s, Inc. (Norwalk, United States), Arca Continental SAB de CV (Monterrey, Mexico), ITO EN Ltd (Tokyo, Japan) and Monster Beverage Corp (California, United States To capture a significant market share of the global soft drinks market, major players are now focusing on adopting strategies such as mergers and acquisitions, collaborations, product innovations, recent developments, joint ventures and partnerships. Pepsi Co. and The Coco Cola Co. are some of the major manufacturers operating in the soft drink market.
- In February 2019, The Coco-Cola Company expands its ranges of fruit drinks in India with the launch of âColorâ, a sparkling drink made from grape juice.
The CSD segment dominated the market and held the largest market share of 30.9% in 2020
On the basis of type, the global soft drink market is segmented into RTD coffee and tea, bottled water, soft drinks without alcohol, and fruit drinks. Due to their easy availability and low price, carbonated non-alcoholic beverages (CSD) hold the largest share of the non-alcoholic beverage market. Due to its cooling properties, customers buy new and flavored CSD in the market to quench thirst. In addition, the product market is driven by the increased efforts of customers to strengthen their sales channel at a low rate.
Supermarket / hypermarket segment dominated the market and held the largest market share of 29.15% in 2020
On the basis of distribution channel, the global soft drinks market is segmented into food service industry, supermarket hypermarket, specialty stores, convenience stores and online retail. The supermarket / hypermarket segment dominated the market and held the largest market share of 29.15% in 2020. Due to their greater product availability, large distributors dominate the distribution channels.
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Regional segment of the non-alcoholic beverage market
- North America (United States, Canada, Mexico)
- Europe (Germany, France, United Kingdom, Italy, Spain, rest of Europe)
- Asia-Pacific (China, Japan, India, rest of APAC)
- South America (Brazil and rest of South America)
- Middle East and Africa (UAE, South Africa, rest of MEA)
On the basis of geography, the global soft drink market is classified into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. Asia-Pacific has become the market pioneer and will remain so on schedule due to steadily increasing disposable income and consumer living standards. The increase in spending on soda ash products in the market is the product of increasing consumer adoption of westernization and modernization. The markets in North America and Europe are expected to grow at a significant CAGR due to increased consumer demand for RTD drinks and sports drinks.
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About the report:
Global Soft Drink Market is analyzed on the basis of value (USD Million). All segments were analyzed at global, regional and national level. The study includes analysis of over 30 countries for each segment. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges to get the key insights of the market. The study includes the carrier’s five force model, attractiveness analysis, commodity analysis and competitor position grid analysis.
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