RECENT SOFT DRINK CONCENTRATE MARKET TRENDS 2022

“When I read about the evils of drinking soda, I gave up reading.”

That’s exactly how addictive soft drinks could be. The revenue in the soft drink segment amounts to USD 333.90 billion in 2022. The market is expected to grow annually by 4.23% (CAGR 2022-26). In global comparison, most revenue is generated in the United States. The US per capita consumption of soft drinks during the years 2010-2018 accounted for 38.87 gallons per person. With such high stakes in this industry, the market for soft drink concentrates and food and beverage flavour manufacturers in India has expanded exponentially.

The global soft drink concentrates market by application (carbonated and non-carbonated) has exploded in the marketplace. Soft drink concentrates market growth and the forecast (2022-27) looks like this:

The Global soft drink concentrate market size was USD 31.28 billion in 2021, and it is estimated to reach a value of USD 41.27 billion by the end of 2027. Rising at an annual compound rate of 5.7% between 2022-27. The growing demand for ready-to-drink (RTD) beverages drives the overall market.

Market Overview:

Soft drink concentrates are beverages that contain carbonated or purified water, sweeteners, and flavouring substances. The sweeteners can be sugar, corn syrup with fructose, fruit juice, or sugar substitutes- artificial or natural flavours. Soft drink concentrates contain caffeine, dyes, stabilizers, preservatives, and other ingredients. Soft drinks use about 80% of the water, which incurs additional transportation costs and occupies too much of the warehouse.

In the food and beverage sector, the soft drink concentrate market has grown significantly due to the ease of operation and the availability of various varieties. As the trend toward the consumption of processed beverages increases, the soft drink market expands at a faster growth rate. Sweeteners used in soft drinks may be in the form of corn syrup with fructose, sugar, sugar substitutes, and others. based on the formulation and the use of soft drinks, they may also contain other ingredients such as colourants, caffeine, stabilizers, and other components.

RECENT DEVELOPMENTS IN THE SOFT DRINK CONCENTRATES INDUSTRY:

  1. In May 2018, Coca-Cola established a juice processing plant in Kenya.
  2. Juice flavour manufacturers in India and soft drink concentrates manufacturers have mainly deployed Indian children’s products. In addition to developing product and sales channels, soft drink concentrates manufacturers are focusing on improving packaging to meet consumers’ simultaneous demand for packaging.
REPORT METRICSDETAILS
Market size available2021-27
Base year2021
Forecast period2022-27
CAGR5.7%
Segments coveredBy application, end-use and region
Various analyses coveredGlobal, regional and country-level analysis, segment-level analysis, DROC, PESTLE analysis, Porter’s Five forces analysis, Competitive landscape, Analyst overview of investment opportunities
Regions coveredNorth America, Europe, APAC, Latin America, Middle East and Africa

Key Growth Drivers:

The growth potential of the soft drink concentrates market depends on research and development and the opportunity to introduce new flavours by leading flavour manufacturers in India. As the population grew, the global soft drink concentrates market was activated. This is the main reason for the growth of the global business. Changes in consumer preference for food quality and nutritional value have spurred market growth. Manufacturers are looking for ways to market their products in an attractive way to attract consumers and improve sales. A growing variety of soft drink concentrates worldwide has fueled the growth of the market tremendously. Ace food and beverage flavours manufacturers in IndiaFab Flavours, among many others are working on making high-quality products that can be safely consumed. The soft drink concentrate market is characterised by the growing demand for luxurious and healthy products. World population growth is expected to have a substantial impact on the food supply worldwide.

                Restraints:

As soft drink concentrates contain large amounts of caffeine, increased health awareness among consumers is expected to support the growth of non-coke concentrates. For non-carbonated concentrate, add fruit flavoured fruit concentrate or add fruit juice flavours.

Soft drink market segmentation analysis:

  • By application-
  • Carbonated-Cola and Non-Cola
  • Non-carbonated- grape, pineapple, grapefruit, orange, apple, mixed fruit, mango
  • By End-use
  • Foodservice
  • Mass merchandise
  • Fountain machine

Regional analysis:

At the regional level, the global soft drink concentrate market diversifies into North America, Asia Pacific, Latin America, Europe, the Middle East, and Africa. The APAC soft drink concentrate market is growing positively and is expected to show growth in China, India, Korea and Japan, due to rising disposable income. Looking at these encouraging market trends, one clear fact emerges that the soft drink concentrates and the market is surely going to emerge as the key pivot for market growth, stirring many other sectors of the economy as well. This is confirmed to result in an explosive emergence of food flavour manufacturers in India, churning out the best-in-class beverage flavours.

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