Soft Drinks Market by Product and Geography - Forecast and Analysis 2020-2024

  • Published: Aug 2020
  • Pages: 120
  • SKU: IRTNTR44622
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The soft drinks market size has the potential to grow by USD 216.74 billion during 2020-2024, and the market’s growth momentum will accelerate during the forecast period.

This report provides a detailed analysis of the market by product (carbonated soft drinks,juices and juice concentrates, bottled water, RTD tea and coffee, and others) and geography (APAC, Europe, MEA, North America, and South America). 

Soft Drink Industry Analysis

Soft Drink Industry Analysis

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Which Product Segment Accounts for the Largest Soft Drink Market Share?

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 juices and juice concentrate segment is witnessing an increasing number of new product launches, which is driving their adoption among consumers.

The market growth in the juices and juice concentrates segment will be faster than the growth of the market in the carbonated soft drinks segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the soft drinks market size.

Soft Drinks Market Share by Product

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Which are the Key Markets for Soft Drinks?

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.

36% of the market’s growth will originate from APAC during the forecast period. China and Japan are the key markets for soft drinks in APAC. Market growth in this region will be faster than the growth of the market in other regions.

Soft Drinks Market Share by Geography

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Who are the Major Soft Drinks Vendors?

The soft drinks market analysis report provides information on the production, sustainability, and prospects of several leading companies, including:

  • 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.

The soft drinks market is fragmented with the presence of several international and regional vendors. In this market, competitors differentiate themselves from each other based on product portfolio, product quality, innovation, brand awareness, and product pricing. They also focus on business expansion and product innovation to increase their profit margins and market share. This soft drinks market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies.

Market drivers such as product innovations will create immense growth opportunities for vendors. However, challenges such as the increasing obesity rates and related issues may impede the growth of the market participants.

What are the Key Soft Drinks Market Drivers and Trends?

Technavio’s analysts have identified 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 introducing products with added benefits for people who are 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.

Innovative marketing campaigns are key soft drinks market trends that will influence the market growth during 2020-2024. Players such as Coca-Cola and PepsiCo are revamping their marketing strategies to counter the decreasing sales of carbonated soft drinks globally. The introduction of new marketing and advertising campaigns by players will drive the growth of the soft drinks market during the forecast period.

Soft Drinks Market Report

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Key Highlights of the Soft Drinks Market Report for 2020-2024

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will drive soft drinks market growth during the next five years
  • Precise estimation of the soft drinks market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the soft drinks industry across North America, Europe, APAC, South America, and MEA
  • A thorough 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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Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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The soft drinks market growth will increase by $216.74 billion during 2019-2024.
The soft drinks market is expected to grow at a CAGR of 4.71% during 2019-2024.
Technavio has segmented the soft drinks market by product (Carbonated soft drinks, Juices and juice concentrates, Bottled water, RTD tea and coffee, and Others) ,other1 (Carbonated soft drinks, Juices and juice concentrates, Bottled water, RTD tea and coffee, and Others) , and geographic (North America, Europe, APAC, South America, and MEA).
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. are a few of the key vendors in the soft drinks market.
APAC will register the highest growth rate of 35.97% among the other regions. Therefore, the soft drinks market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
The key factors driving the soft drinks market growth are:
  • Product innovations
The soft drinks market vendors should focus on grabbing business opportunities from the carbonated soft drinks segment as it accounted for the largest market share in the base year.
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