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A soft drink is a drink that typically comprises a sweetener, carbonated water, and artificial or natural flavoring. The benefits of soft drinks include the presence of caffeine, act as a refresher, increases energy and others. Due to the presence of caffeine it helps the consumer to stay awake and alert while doing their work which in turn acts as a driving factor for the growth of the demand of the product. Since soft drinks act as a refresher it is often consumed in any events or functions to freshen up and increase the energy of the audience and thus this helps to gain more demand for growth of the market.
Furthermore, due to the advancement of packaging and labeling technologies soft drinks bottles are becoming more attractive and helps to drive more sales of the product. According to Packaging of the World, 64% of store customers convey that they purchase products right off the shelf if they are attracted by packaging without doing research.
The launch of innovative juice drinks by Stute Foods called Stute Juice Drinks includes two flavors such as apple & mango, orange & passion fruit, apple & raspberry, and mango & melon. This innovation can help to drive more competitors to come up with more innovative soft drinks which will foster the growth of the market. Additionally, the launch of two new innovative energy drinks by Red Bull called Tropical and Orange variants comes with sugar-free. And this will challenge more competitors to come up with a wider variety of energy drink flavors and will act as a boosting factor for the rise of the market.
Due to advancement of technology advertising strategies are becoming more powerful and complicated as it has the ability to reach out to specific target audience through television, social media, and print media. This advancement will further help to increase the sale of the product which in turn is expected to drive the market growth. Additionally, intense competition between the giant food & beverage companies having same promotional campaign of same line of products results in more demand of soft drinks.
Key Market Driver -
Advancement of advertisement strategies act as one of the major driving factor for the growth of the market.
Key Market Restraint -
Strict government rules and regulations regarding production of the products.
Innovative soft drinks that comes with wide varieties of flavors that doesn’t lost its natural taste could act as an immense opportunity for the growth of the market.
Strict government rules and regulations in production makes it more difficult to come up with an innovative product due to restriction of large number of ingredients which act as one of the major restraining factor which hampers the growth of the market.
The major key players which are operating in soft drinks market include Danone SA, Keurig Dr Pepper Inc., Monster Energy Ltd., Nestle S.A., PepsiCo, Inc., Red Bull Company Ltd., and the Coca-Cola Company.
These key-players are aiming to manufacture beverage products with the best possible quality and taste by focusing more on health-friendly when it comes to indigents and raw material used to gain more trust from the consumer so as to foster the growth of the market.
The global soft drinks market is segmented by type, distribution channel, and region.
Based on type, the global soft drinks market is segmented into regular, diet, flavored, caffeine-free, and caffeinated. Regular is projected to be the largest segment this is because most consumers stay true and loyal to the regular type of soft drinks which they first encounter.
On the basis of distriblikution channel, the market is segmented into hypermarket & supermarket and online. Hypermarket & supermarket distribution channel is considered to be a greater segment this is because large percentage consumer prefers to buy it from shops which have wide varieties of soft drinks products which comes with attractive looking packaging under one roof. According to PepsiCo India, annual per capita bottle intake of India will rise by around 84 by 2021.
According to region soft drinks market is grouped into North America, Europe, Asia Pacific, South America, and Middle East& Africa.
North America is the major dominating region in the soft drink market and is expected to continue its dominance during the forecast period 2019-2026. Some of the factors contributing to the growth of the market are it is the headquarters of the major giants of soft drinks companies like The Coca-Cola Company, Pepsico, Jones Soda and others; large working-class population, and others. Additionally, the presence large number of restaurants, convenient stores and fast-food outlets also plays a huge role in the growth of market in this region.
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The Asia Pacific is anticipated to be the second dominating and fastest-growing region owing to the change in work culture there is an increase in disposable income which resulting to the rise in economic growth and an increase in dual-income. According to the National Bureau of Statistics 2016, China’s domestic beverage industry sales had raised by 10% which is contributing to a large portion in this region.
By Distributional Channel
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