LONDON–(BUSINESS WIRE)–The global soft drinks market is expected to grow by USD 216.74 billion as per Technavio. This marks a significant market growth compared to the 2019 growth estimates due to the impact of the COVID-19 pandemic in the first half of 2020. However, steady growth is expected to continue throughout the forecast period, and the market is expected to grow at a CAGR of almost 5%.
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Read the 120-page report with TOC on “Soft Drinks Market Analysis Report by Product (Carbonated soft drinks, Juices and juice concentrates, Bottled water, RTD tea and coffee, and Others), Geography (North America, Europe, APAC, South America, and MEA), and the Segment Forecasts, 2020-2024”.
The market is driven by product innovations. In addition, innovative marketing campaigns are anticipated to boost the growth of the soft drinks market.
Vendors in the market are continuously innovating their products in terms of ingredients, formulation, and packaging to attract consumers and drive sales. Also, the growing health and wellness consciousness among consumers is driving vendors to introduce products with added benefits. For instance, in April 2018, Nestlé’s Perrier introduced the new peach flavor to its existing lineup of carbonated mineral water. The new product has natural flavors and is sugar-free and has zero calories. Similarly, In April 2018, Coca-Cola introduced the reformulated version of Sprite for the UK market. The new product uses a combination of acesulfame K and aspartame and is claimed to have 50% less sugar. The introduction of such innovative products is driving the growth of the global soft drinks market.
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Major Five Soft Drinks Companies:
Cott Corp. operates its business through segments such as Route based services, Coffee, tea, and extract solutions, and Other. The company offers bottled water products such as Mountain Valley Spring Water, VOSS artesian water, Fiji Water, Sparkling Ice, LaCroix Sparkling Water, Polar Sparkling Water, and Nursery water.
Danone SA operates its business through segments such as Specialized Nutrition, Essential Dairy and Plant-Based Products, and Waters. The company offers soft drink products such as vitamin drinks, aquadrinks, and sweet beverages under the brands of evian, Volvic, AQUA, Font Vella, Bonafont, Mizone, and others.
Keurig Dr Pepper Inc.
Keurig Dr Pepper Inc. operates its business through segments such as Beverage Concentrates, Packaged Beverages, Latin America Beverages, and Coffee Systems. The company offers a wide range of flavored soft drinks, teas and waters, and juices and juice drinks under the brands Dr Pepper, 7up, Schweppes, Canada Dry, Clamato, Nantucket Nectars, and Mistic.
Monster Beverage Corp.
Monster Beverage Corp. operates its business through segments such as Monster Energy Drinks, Strategic Brands, and Other. The company offers a wide range of energy drink products under the brands of Monster Energy, Burn, NOS, Full Throttle, Relentless, Mother, Reign, Predator, among others.
Nestlé SA operates its business through segments such as AMS, EMENA, AOA, Nestle Waters, and Other businesses. The company offers bottled water, sparkling mineral water, and iced tea products under several brands such as Vittel, Pure Life, S.Pellegrino, Perrier, Poland Spring, Nestea, Nesquik, and others.
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Soft Drinks Market Product Outlook (Revenue, USD Billion, 2020-2024)
- Carbonated soft drinks
- Juices and juice concentrates
- Bottled water
- RTD tea and coffee
Soft Drinks Market Geography Outlook (Revenue, USD Billion, 2020-2024)
- North America
- South America
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