Soft Drinks Market To Hit Value 2.86 Billion By 2028 |Grand View Research, Inc.Posted by Mrudula Karmarkar on November 4th, 2022 The global soft drinks market size was estimated to reach USD 592.86 billion by 2028 and is expected to expand at a CAGR of 5.2% from 2022 to 2028. Rising disposal incomes, changing lifestyle, and a growing population is expected to promote market growth over the next few years. Rising popularity among the millennials and increasing investments in R&D in the food and beverage sector is expected to drive the industry demand. Large acceptance of online food delivery along with e-commerce platforms owing to benefits associated with it such as coupons, discounts, and cash-on-delivery are providing eye-catching opportunities to the producers targeting to reach out to a large number of customers. Soft drinks are made from flavors, sweetening agents, and edible acids. Soft drinks are broadly categorized as carbonated and non-carbonated which contain energy and sports drinks, soda, ready-to-drink (RTD), flavored water, and diet beverages. With a surge in the attentiveness to health risks and other such aspects trending globally, most companies have started to capitalize on the manufacture of items that provide health benefits. To face the rising market challenges, corporations are bringing innovative and new flavors by considering the health and wellness aspects of consumers. The current COVID-19 pandemic remains to spark customer interest in products associated with a solid immune system. Additionally, customers are also largely determining soft drink trends in 2021. This alertness can lead to significant opportunities for the soft drinks market. Around 36% of U.K. customers who drink soft drinks said in October 2020 that they had smashed more juice during the COVID-19 outbreak owing to concerns regarding their immune system. The non-carbonated segment is forecasted to expand with the highest CAGR of 6.9% from 2022 to 2028. Non-carbonated drinks do not undergo the carbonation process thus, are healthier than carbonated. These drinks are pasteurized to protect them from spoilage during the manufacturing process. Considering the health benefits, this segment is expected to grow during the forecast period. The online distribution channel is forecasted to register a higher CAGR of 7.1% from 2022 to 2028. An increasing trend among consumers regarding online shopping portals and mobile apps for shopping due to simplicity and convenience. Products are available in economic rates via online channels compared to offline. End-users choose and believe the brands, those who manufacture and check the quality of products. Moreover, end-users choose the most believed shopping portals or mobile apps to purchase. To Request Sample Copy of this report, click the link: https://www.grandviewresearch.com/industry-analysis/soft-drinks-market-report/request/rs1 During COVID 19 pandemic and lockdown situation, governments of various countries restricted or citizens prefer to stay at home as a precautionary measure. Various festivals, sports events, exhibitions, and other public events were canceled across the world. Due to this complete production as well as supply chains were distressed. Due to the disturbed supply chains and reduced demand, the market experienced a shortfall in sales. Considering this short slack in market revenue is likely to observe a healthy market growth rate during the forecast period after COIVD restrictions. Beverages are liquid food that can be consumed by citizens for hydration or as a source of energy. Different type of drinks is available in the market that satisfies the demand of the citizens. Soft drinks are made from flavors, sweetening agents, and edible acids. Soft drinks are broadly categorized as carbonated and non-carbonated which contain energy and sports drinks, soda, Ready-To-Drink (RTD), flavored water, and diet beverages. Considering the public health, Food and Drug Administration (FDA) ensure guidelines and ensures soft drinks are safe for the citizens. Soft Drinks Market Report Highlights
Soft drinks can be served cold, above ice cubes, or at normal temperature. They are accessible in several container formats, such as cans, glass bottles, as well as plastic bottles. Containers are available in different sizes, varying from small bottles up to large containers. Lesser amounts of alcohol may exist in a soft drink, however, the alcohol content must be less than 0.5% of the overall volume of the drink in numerous countries. Moreover, soft drinks are extensively accessible at dedicated soda stores, restaurants, convenience stores, movie theaters, vending machines, casual-dining restaurants, and bars from soda fountain machines. The top three global soft drinks market players are Coca-Cola, PepsiCo, and Cadbury Schweppes. In the U.S., The Coca-Cola Company is the global leading company in the carbonated soft drinks market, which accounts for nearly 48% share of the total market's volume. In India, the major soft drink companies are Coca-Cola and Pepsi. This industry is largely dependent on the manufacture of quality bottles as well as drinking packs which are utilized to maintain the products fresh for a long period of time. The soft drink market is increasing rapidly owing to continued attention on health and comfort. Soft drinks are the element of a balanced diet as well as a healthy lifestyle as they comprise health elements such as vitamins and calcium. Pure juice, bottled water, smoothies, dairy drinks, and fruit drinks, continue to drive development. Large opportunities for soft drinks producers are offered by augmented demand for functionality, like blood-pressure-reducing and also cholesterol-lowering drinks. The customers select the soft drinks that suit their lifestyle, tastes, nutritional requirements, and physiological constraints. List of Key Players in Soft Drinks Market
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