Market Trends of soft drinks Industry
Continous innovation in flavors along with unique formations are catering to changing consumer preferences
- The average volume per person in the Soft Drinks market amounted to 42.91 liters in 2023. RTD coffee, RTD tea, RTD juices, energy drinks are high in demand due to their convenient and health benefits. The soft drink consumption is increasing rapidly owing to continued attention on health and comfort.
- Products are constantly being developed to cater to a wide range of consumers who are getting more health-conscious, brands like Pepsi recently released Pepsi Zero Sugar Cola Soft Drink with Mango Flavor. However, juices and nectars, carbonated beverages, and iced tea were the most launched soft drink subcategories in 2022.
- The average retail prices has increased from USD 0.3 per 355 ml in 2019 to USD 0.5 per 355 ml in 2023. However, the soft drinks market per person revenues of USD 111.20 are generated in 2023. In global comparison, most revenue is generated in the United States where carbonated beverage sales were up 9.7% totaling USD 35.1 billion for the 52 weeks ending May 15, in total U.S. multi-outlets.
- Many people have experienced a quick boost in their energy after consuming soft drinks. It boosts a person’s mind and also helps in regaining energy. Drinking carbonated soft drinks can make consumer feel better in nausea. Furthermore, soft drinks in addition to water also meets the minimum fluid requirement by the body.
OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- Brands are investing in packaging solutions leading to a shift towards eco-friendly packaging solutions
- Coca Cola developed unique strategies like customized bottle designs, festive season designs, and other innovative packaging to attract customers thereby marking its dominance
