LONDON--(BUSINESS WIRE)--The global soft drinks market size is poised to grow by USD 216.74 billion during 2020-2024, progressing at a CAGR of almost 5% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.
The product innovations as one of the major factors driving the growth of the soft drinks market. Market players are focusing on enhancing their sales volume by launching new products with better formulation, ingredients, and packaging. They are also introducing products with added benefits for people concerned about their health and wellness. For instance, Coldpress launched two new low-calorie cold-pressed juices, which are said to have no more than 65 calories in a 150 ml bottle. These factors will boost the market growth.
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Report Highlights:
- The major soft drinks market growth came from the juices and juice concentrates segment. The demand for juice products is increasing among consumers owing to their detoxifying properties. Moreover, players are coming up with new juice cleanses to cater to the changing consumer preferences. Product innovations such as cold-pressed juices will also drive the growth of the market during the forecast period. As a result of these factors, the segment is witnessing an increasing number of new product launches, which is driving the adoption of juice and juice concentrates among consumers.
- APAC will offer several growth opportunities to market vendors during the forecast period. The growing investments, introduction of new products, and product innovations will significantly drive soft drinks market growth in this region over the forecast period.
- The global soft drinks market is fragmented. Cott Corp., Danone SA, Keurig Dr Pepper Inc., Monster Beverage Corp., Nestlé SA, PepsiCo Inc., Red Bull GmbH, Suntory Holdings Ltd., The Coca Cola Co., and The Kraft Heinz Co. are some of the major market participants. To help clients improve their market position, these soft drinks market forecast report provides a detailed analysis of the market leaders.
- As the business impact of COVID-19 spreads, the global soft drinks market 2020-2024 is expected to have Neutral and At par growth. As the pandemic spreads in some regions and plateaus in other regions, we revaluate the impact on businesses and update our report forecasts.
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Innovative Marketing Campaigns will be a Key Market Trend
Innovative marketing campaigns is one of the key trends that will influence market growth. Players such as Coca-Cola and PepsiCo are revamping their marketing strategies to counter the decreasing sales of carbonated soft drinks globally. For instance, in April 2018, Coca-Cola launched a new marketing campaign under the banner "We Do" in the UK. This campaign included billboard advertisements and social media campaigns with catchy slogans. Also, in March 2018, PepsiCo launched a new marketing campaign in India, which featured a television commercial and outdoor advertisements that highlighted the new packaging of PepsiCo and drew a relation between friendship and food. Thus, the introduction of new marketing and advertising campaigns by players will drive the growth of the global soft drinks market during the forecast period.
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Soft Drinks Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist soft drinks market growth during the next five years
- Estimation of the soft drinks market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the soft drinks market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of soft drinks market vendors
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Executive Summary
Market Landscape
- Market ecosystem
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 - 2024
Five Forces Analysis
- Five forces summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Product
- Market segments
- Comparison by Product
- Carbonated soft drinks - Market size and forecast 2019-2024
- Juices and juice concentrates - Market size and forecast 2019-2024
- Bottled water - Market size and forecast 2019-2024
- RTD tea and coffee - Market size and forecast 2019-2024
- Others - Market size and forecast 2019-2024
- Market opportunity by Product
Market Segmentation by Functional Properties
- Market segment
Customer landscape
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- North America - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- APAC - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
Vendor Landscape
- Overview
- Vendor landscape
- Landscape disruption
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- Cott Corp.
- Danone SA
- Keurig Dr Pepper Inc.
- Monster Beverage Corp.
- Nestlé SA
- PepsiCo Inc.
- Red Bull GmbH
- Suntory Holdings Ltd.
- The Coca Cola Co.
- The Kraft Heinz Co.
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
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