Carbonated soft drinks segment is expected to emerge as the maximum revenue-generating segment during the forecast period.
Dublin, Ireland – July 10, 2020 /MarketersMedia/ —
Soft drink is a category of non-alcoholic beverages that consists of carbonated water, sweetener, and artificial or natural flavoring elements. The soft drink includes sugar, fruit juice, high-fructose corn syrup, and sugar substitutes. The natural flavors are obtained from fruits, nuts, berries, roots, herbs, and other plant extracts. The emerging trend in the soft drinks industry is to minimize the calorie content in the beverages with no caffeine. Soft drink improves brain function, supports the immune system, increase muscle development, develops digestive health, supports bone development, reduces stress, increases endurance power, and enhances the overall metabolism of the body.
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The accelerating demand for specialty drinks or premium soft drinks owing to its exceptional properties such as low-calorie content and contains natural sweeteners is the major factor that is responsible for the growth of the soft drink market share in terms of revenue. Additionally, the strong demand for bottled water as well as increasing health awareness among the consumers, is further paving the way for the growth of the market. Consumers now prefer to drink beverages made from natural ingredients with zero or low calories. This factor is presenting new growth opportunities for manufacturers to produce soft drinks with zero calories.
The rising GDP growth rates, coupled with the increasing disposable income and the growing health concerns of people of the emerging economies, especially China and India, are contributing towards the expansion of the global soft drink market size. The emergence of the COVID-19 pandemic will have a positive impact on the demand for soft drinks. The consumers are stockpiling the essential food products and beverages due to the strict lockdown around the globe. Moreover, the rising emphasis on staying at home and maintaining social distance is further encouraging the consumers to stock their favorite junk food and beverage options to avoid visiting the grocery shops every other day. On the other edge, various strict rules and regulations launched by the government to restrict the marketing activities towards children, labeling, and listing the ingredients on the product are likely to hamper the growth of the market in the coming years.
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On the basis of the product, the global soft drinks market is segmented into carbonated soft drinks, bottled water, juices and juice concentrate, ready to drink tea and coffee, and functionals drinks. The carbonated soft drinks segment is anticipated to expected to emerge as the maximum revenue generating segment over the forecast period. This is due to the easy availability of the carbonated soft drinks across all the major distribution channels, including supermarkets, hypermarkets, convenience stores, and online stores.
Based on the packaging, the global soft drinks market segmented into plastic, glass, paperboard, and metal. The plastic segment exhibits substantial growth potential and is expected to gain traction over the next six years. The plastic packaging improves the shelf-life and freshness of the soft drinks and can be easily recycled. All these remarkable properties of the plastic packaging are encouraging the end-users to opt for plastic packaging options rather than any other conventional packaging method.
Based on the distribution channel, the global soft drinks market segmented into supermarkets, hypermarkets, convenience stores, online stores, and others. The supermarket segment is poised to expand over the forecast period. This is attributed to the easy availability of superior variety, quality, and convenient pack sizes of soft drinks for end-users in the market. Furthermore, hypermarkets have brand visibility, attractive display portfolios, and extensive cold facilities, which helps in preserving nutrients, flavors, and colors of the beverages.
On the basis of the region, the North America region is expected to dominate the market over the forecast period due to the strong demand for the soft drinks such as carbonated soft drinks, bottled water, juices and juice concentrate, ready to drink tea and coffee and functionals drinks in this region. Moreover, the rising consumer preferences and changing lifestyles are further surging the demand for the global soft drinks market. The increasing health awareness and acceptance of the natural and organic-ingredient based products to decrease obesity will further accelerate the demand of the global soft drinks market. Manufacturers are aiming to strategize small-size packaging in soft drinks, which in turn, will bring innumerable growth opportunities for the market in this region.
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