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NEW YORK, Dec. 1, 2021 /PRNewswire/ -- The "Soft Drinks Market by Product and Geography - Forecast and Analysis 2021-2025" report has been added to Technavio's offering. The soft drinks market will grow by USD 455.17 billion from 2020 to 2025. The market growth momentum is likely to accelerate at a CAGR of 8.67% during the forecast period.

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The soft drinks market will be driven majorly by the continuous product innovations carried out by the market participants. Players are continuously innovating their products in terms of ingredients, formulation, packaging, and other aspects to increase sales. For instance, In April 2019, PepsiCo launched three new cola flavors, namely Pepsi Lime, Pepsi Berry, and Pepsi Mango. These flavors were claimed to minimize the sugar content in the drinks by about 50%. Thus, new product launches keeping and considering the health requirements of target customers is expected to drive the soft drinks market in the upcoming years.

Increasing obesity rates and related issues are a few key challenges anticipated to hinder the market growth. There has been a considerable rise in consumers limiting the intake of sugar and high-calorie food and beverage products. This factor will negatively affect the sales of carbonated soft drinks, juices, and other soft drink products. With the increasing awareness of the seriousness of Obesity and Obesity-related disorders including high blood pressure, diabetes, joint problems, and various other conditions, the demand for soft drinks is likely to witness a considerable dip in the upcoming years, in turn, impacting the market negatively.

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The soft drinks market is segmented by product (carbonated soft drinks, juices and juice concentrates, bottled water, RTD tea and coffee, and others) and geography (North America, Europe, APAC, South America, and MEA). The carbonated soft drinks segment led the soft drinks market share in 2020 and is expected to witness a decline in growth during the forecast period owing to the increasing preference for alternatives like bottled water. In addition, the growing perception that carbonated soft drinks have negative health impacts due to their high sugar and caffeine content will also affect sales during the forecast period. The bottled water segment is likely to witness the fastest growth in the market owing to the growing demand for mineral water, distilled water, spring water, still unflavored water, still flavored water, sparkling flavored water, functional water, and others.

By Geography, North America was the largest market for soft drinks globally in 2020, in terms of revenue. However, the declining demand for carbonated drinks resulting from the increasing health awareness among the consumers, particularly, in the US is one of the major factors leading the region to witness a gradual decrease in the market share during the forecast period. APAC, on the other hand, will emerge as the fastest revenue-generating economy for the soft drinks market in the upcoming years. The soft drinks market growth in APAC can mainly be attributed to the surging demand for soft drinks and bottled water in emerging economies including India and China. Other factors such as the growing investments, introduction of new products, and production plants will aid in the rising of soft drinks market size in APAC during the forecast period.

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The soft drinks market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market. The soft drinks market players are focusing more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments. The vendors are deploying various strategies right from making significant changes to the leadership positions to expanding their operations in niche segments for reaching out to a larger target audience. For instance, in August 2021, Nestle SA expanded its Research and Development facilities in Singapore.

In addition, companies are also engaging in M&As and partnerships with retailers to strengthen their supply chain. For instance, in August 2021, Nestle SA completed the acquisition of The Bountiful Company core brands. These strategies are likely to aid the market players to retain their dominant positions in the market, thus, intensifying the competitive environment during the upcoming years. The influx of private labels in the market has also been on the rise. Therefore, to survive and succeed in such a stiff competitive environment, vendors in the market must distinguish their products and service offerings through a clear and unique value proposition.

Companies Mentioned with Key Offerings

• Danone SA: The company offers soft drinks that are packaged with mascot products featuring Disney characters and others, based on the motto, have fun while drinking, under the brand names of Aqua, Bonafont, Evian, Hayat, and many more.
• Keurig Dr Pepper Inc.: The company offers soft drinks that are packaged in bottles which are carbonated sugared drinks, under the brand names of Dr Pepper, 7up, Crush, Vernors, Cplus, Big Red, and many more.
• Monster Beverage Corp.: The company offers soft drinks that are majorly energy drinks which are non-carbonated and carbonated and available majorly in cans, under the brand name of Monster.
• Nestle SA: The company offers soft drinks that infuse tea extract with tangy lemon and peachy flavors which are available in packaged bottles, under the brand name Nestle.
• PepsiCo Inc.: The company offers soft drinks that are available in packaged bottles and cans which are carbonated sugar drinks and non-sugar drinks, under the brand name of Pepsico.
• Red Bull GmbH: The company offers soft drinks that are majorly energy drinks and contain ingredients such as caffeine, Taurine, sugars, vitamin B, alpine water, and many more, under the brand name of RedBull.
• Refresco Group BV: The company offers soft drinks, their regular and low-calorie alternatives from colas and lemonade to fruit drinks, sparkling flavored waters, ice tea, tonic waters, and regionally popular flavors such as ginger or rhubarb, under the brand name of Refresco.
• Suntory Holdings Ltd.: The company offers soft drinks that are available in packaged bottles and available in flavors of lemon, cola, orange, and many more, under the brand name of Suntory.
• The Coca-Cola Co.: The company offers soft drinks that are available in packaged bottles and cans in flavors of cola, orange, flavored soda which are carbonated sugar, and non-sugar drinks, under the brand name of CocaCola.
• The Kraft Heinz Co.: The company offers soft drinks in ready-to-drink pouches, packed in 4 to 10 count cartons, with no artificial colors and flavors, under the brand name of KraftHeinz.

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Key Market Dynamics:

Market Driver

• Product innovations
• Strengthening distribution networks and collaborations
• Packaging innovations

Market Challenges

• Increasing obesity rates and related issues
• Easy availability of counterfeit products
• Implementation of the sugar tax

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Key Topics Covered:

• Executive Summary
• Market Landscape
• Market Sizing
• Five Forces Analysis
• Market Segmentation by Product
• Customer landscape
• Geographic Landscape
• Vendor Landscape
• Vendor Analysis
• Appendix

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