LONDON–According to the latest market study released by Technavio, the global soft drink market is expected to grow at a CAGR of close to 6% during the forecast period.
This research report titled ‘Global Soft Drink Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This report also includes an up to date analysis and forecast for various market segments and all geographical regions.
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The market research analysis categorizes the global soft drink market into the following product segments:
- Carbonated soft drinks
- Bottled water
- Juices and juice concentrate
- RTD tea and coffee
- Functional drinks
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The top three product segments are discussed below:
Carbonated soft drinks
The carbon dioxide gas present in carbonated drinks causes them to bubble and fizz. Carbonation is a process in which the gas dissolves in water/non-carbonated drink. Beverages can usually contain a maximum of 0.282 ounces of gas/liter that can be dissolved in them. It is then sealed in bottles under high-pressure. The gas comes out of the bottle in the form of bubbles and fizz when the bottle is opened/pressure is released. Dilute carbonic acid is created during carbonation process that causes a fizzy sensation in the mouth.
According to Manjunath Reddy, a lead analyst at Technavio for non-alcoholic beverages research, “There is a growing demand for low-calorie and low-sugar drinks and drinks made from natural sweeteners like stevia among consumers. For example, the demand for diet soft drinks like Diet Coke, Diet Pepsi, drinks sweetened with cane sugar like Coco-Cola Life, and other similar products is increasing. There is also a rising demand for fruit-flavored carbonated soft drinks like orange, grape, pineapple, mango, grapefruit, passion fruit, and others.”
The various segmentations of the global bottled water market include mineral water, distilled water, spring water, still unflavored water, still flavored water, sparkling flavored water, and others that are packaged in plastic/glass bottles. Health and body functioning are enhanced by drinking more water. It also assists to cut down extra calories and fat. Added sweeteners, caffeine, or artificial ingredients are not present in packaged bottled water.
“The factors that are contributing to the growth of the market are the versatility and convenience factors of bottled water. Polyethylene terephthalate bottles and glass bottles are the different types of packaging that bottled water comes in. Among consumers, some of the popular bottled water brands are Coca-Cola, Nestle, PepsiCo, Groupe Donne, Mountain Valley Spring Water, Voss, Nestle Pure Life, Fiji Natural Artesian Water, Evian, Dasani and, Aquafina,” says Manjunath.
Juices and juice concentrate
One of the major health trends in Western countries includes “Juicing”. A different nutritional composition of vitamins, fiber, minerals, and antioxidants is present in different juices. One of the key factors driving the market demand for juices is the growing health-consciousness among people.
Overall, the demand for coconut water is rising faster than the demand for juices. Therefore, the coconut water market segment has a greater number of companies tapping into the market. There is a lot of popularity among consumers for juice cocktails and mocktails.
The top vendors highlighted by Technavio’s market research analysts in this report are:
- Nestlé Waters
- The Coca-Cola Company
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