Pune, India, October 26, 2021 (GLOBE NEWSWIRE) – According to Fortune Business Insights â¢, the soft drinks market height is expected to increase significantly due to the current trend in health and fitness and the growing inclination towards healthy drinks. The value of this market was $ 919.13 billion in 2019 and is expected to grow at a CAGR of 8.20% between 2020 and 2027 to reach $ 1,257.77 billion by the end of 2027.
List of companies presented in the Non-alcoholic drinks market Report:
- Dr Pepper Snapple Group, Inc. (Texas, USA)
- Monster Beverage Corp (California, United States)
- PepsiCo, Inc. (New York, United States)
- ITO EN Ltd (Tokyo, Japan)
- The Coca-Cola Company (Georgia, United States)
- Reed’s, Inc. (Norwalk, US)
- The Kraft Heinz Company (Chicago, USA)
- Appalachian Brewing Co. (Harrisburg, USA)
- NestlÃ© SA (Vevey, Switzerland)
- Arca Continental SAB de CV (Monterrey, Mexico)
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Growing popularity of soft drinks to help promote
The increasing prevalence of various acute and chronic diseases has encouraged people to adopt a healthy lifestyle. These habits include regular exercise and fitness, and the consumption of nutritious foods and drinks. The growing trend towards healthy lifestyle and eating habits is the key factor driving the growth of the global soft drinks market. In addition to this, the growing popularity of soft drinks and the advent of innovative flavors and tastes will drive the market growth during the forecast period.
On the contrary, the fluctuation in the prices of raw materials for making soft drinks and the fluctuation in its availability, especially for seasonal fruits, could be a major obstacle to the market in the years to come.
Nonetheless, the evolution of e-commerce platforms and the growing production of non-alcoholic beverages to meet the needs of consumers are expected to help the market to enjoy lucrative growth opportunities in the years to come.
The carbonated drink segment has become dominant due to its cooling properties
Among all type segments, the non-alcoholic carbonated drinks segment gained 39.80% share in 2019 and became dominant. This segment holds the largest share of the non-alcoholic beverages market due to its refreshing properties and profitability.
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Asia-Pacific held the largest shares due to increasing disposable income of people
Among all regions, Asia-Pacific held the largest non-alcoholic beverage market share in 2019. This is due to the modernization and increasing adoption of Western habits among people which has resulted in increased spending. in beverage products. On the other hand, the North American market has gained $ 199.53 billion and will show significant growth in the coming years due to the growing demand for sports drinks and RTD drinks in the region. In addition, the European market will experience significant growth due to the decline in the consumption of alcoholic beverages and the growing popularity of âbetter-for-youâ products, thereby promoting the consumption of healthy non-alcoholic beverages.
Coca-Cola Company Dominates Market By Ascribing To Continuous Innovations
The global soft drinks market is consolidated in nature due to the presence of a handful of players with large shares such as NestlÃ© SA, The Coca Cola Company and PepsiCo Inc. Among these the market is dominated by The Coca-Cola Company relies on continuous innovations in its beverage products. This includes the VitaminWater line, probiotic drinks, fermented drinks, and RTD drinks, among others. In March 2019, this company launched a new drink with Jaljeera flavor in the Indian market. Other players operating in this market are committing and investing heavily in innovative product launches to gain a competitive advantage in the market. Others engage in collaborative efforts such as agreements and contracts, joint ventures and partnerships, to attract significant revenue to the market in the years to come.
Key industry developments:
December 2019 – The launch of a greenhouse accelerator program in 2020 was announced in North America by PepsiCo Co. to help smart startups provide the foundation to keep up with current trends in the soft drink segment and gain recognition. position in market competition.
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