New York, June 28, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Soft Drinks Global Market Report 2023" - https://www.reportlinker.com/p06463973/?utm_source=GNW
, Arizona Beverage Company, Del Monte Pacific Ltd., Mondelez International Inc., Parle Agro Pvt Ltd., Postobon S.A., and Purity Soft Drinks Ltd.
The global soft drinks market is expected to grow from $437.78 billion in 2022 to $464.88 billion in 2023 at a compound annual growth rate (CAGR) of 6.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The soft drink market is expected to reach $573.18 billion in 2027 at a CAGR of 5.4%.
The soft drink market consists of sales of energy soft drinks, soda drinks, and ginger ale soft drinks.Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
A soft drink refers to a class of nonalcoholic beverages that frequently include carbonated water, a sweetener, and flavoring. These beverages are widely consumed and contribute to a enjoyable diet.
North America was the largest region in the soft drinks market in 2022. The regions covered in soft drinks report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of soft drinks are carbonated soft drinks, juices, juice concentrates, bottled water, ready-to-eat(RTD) tea and coffee, and others.Carbonated soft drinks are generally sweet, non-alcoholic, effervescent liquids.
The various flavors include cola, citrus, and others. These are distributed through various distribution channels including offline, and online, and are sold through supermarkets, convenience stores, online stores, and others.
The rise in demand for food and beverages is expected to propel the growth of the soft drink market going forward.The food and beverage sector encompasses all organizations that process, package, and distribute raw food products.
Consumers are preferring beverages with healthier and ready-to-eat options with different flavors, as a result, the expansion of the food and beverage sector boosts the growth of the soft drinks market. For instance, in December 2022, according to a report published by FoodDrinkEurope, a Food industry confederation in the European Union, the EU food and drink industry turnover was €1,121 billion ($1185.74 billion) in 2022 up from €1,093 billion ($1157 billion) in 2021. Therefore, the rise in demand for food and beverages is driving the growth of the soft drink market.
Product innovation is a key trend gaining popularity in the soft drink market.Major companies operating in the soft drink industry are focused on developing innovative solutions to strengthen their position in the market.
For instance, in January 2023, PepsiCo Inc., a US-based food, snack, and beverage corporation, launched a new product called STARRY, which is a lemon-lime flavored soda. Starry is caffeine-free and available in a variety of sizes to provide a refreshing burst of lemon-lime flavor for every occasion that is easy to drink, perfectly sweet, and provides an exceptional taste and flavor experience. Additionally, it has stronger, higher-level citrus flavors that are true to the fruit and more aromatic, which deliver a more balanced, cleaner, crisp finish than sierra mist.
In September 2022, Reliance Industries Ltd., an Indian-based multinational conglomerate company, acquired Campa-Cola for an undisclosed amount. Through this acquisition, Reliance Industries Ltd. aims to enter the fast-moving consumer goods sector and plans to relaunch special soft drink products. Campa-Cola is an Indian-based soft drink provider that offers products such as sundew and camp in four flavors, orange, lemon, coca, and mango soft drinks.
The countries covered in the soft drinks market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The soft drinks market research report is one of a series of new reports that provides soft drinks market statistics, including soft drinks industry global market size, regional shares, competitors with a soft drinks market share, detailed soft drinks market segments, market trends, and opportunities, and any further data you may need to thrive in the soft drinks industry. This soft drinks market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06463973/?utm_source=GNW
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