27-Dec-2022 | Zion Market Research
The global soft drink concentrates market size was worth around USD 35.1 billion in 2021 and is predicted to grow to around USD 53.4 billion by 2030 with a compound annual growth rate (CAGR) of roughly 6.39 % between 2022 and 2030.
A soft drink is defined as a non-alcoholic beverage that usually, but does not necessarily contain a carbonated liquid which is most likely water along with other ingredients like artificial sweeteners and flavors. Natural soft drinks are derivatives of fresh fruits, berries, cocoa, herbs, and roots. The word soft drink was developed to distinguish between alcoholic and non-alcoholic drinks. A soft drink concentrate is created by removing the majority of the solvent. They are beverages made using distilled water and other artificial agents. Some of the sweetening agents included in the production are sugar, corn syrup, and other materials.
These substances can vary in quantity depending on the final product the manufacturer wishes to produce. Almost 80% of soft drink is made of water which results in the increased weight of soft drink and ultimately the process of shipping becomes expensive. This is one of the major reasons why soft drink manufacturers convert the drink into concentrates since the volume of the product decreases considerably and more products can be shipped at relatively low prices. It is comparatively easier to store soft drink concentrates as opposed to soft drinks since they have a thick consistency and can be easily transported without worrying about spillage. Consumers can dilute the soft drink concentrates based on personal preference making it more desirable than bottled soft drinks that have a uniform quantity of all ingredients and cannot be customized.
The global soft drink concentrates market is projected to grow owing to the increasing research and development in the packaging industry that has allowed safe storage and transportation of a magnitude of products. Earlier since there were limited packaging options, only certain products could be stored for a longer duration, and transportation almost always led to the loss of some products due to physical or chemical damage. However, with the growing developments in the packaging industry, market players now have the option to invest in product innovation as the packaging industry also undergoes multiple new additions. Some of the changes include the development of sustainable forms of packaging in contrast to non-environmentally-friendly packaging systems.
The global market could face challenges due to the growing resistance toward plastic packaging in the food and beverage industry. The F&B sector is one of the largest producers of plastic waste as more than 80% of plastic packaging turns into non-reusable waste. Since plastic is non-biodegradable, it pollutes the environment over time. There has been a growing awareness amongst end-consumers along with increasing activities undertaken by agencies dealing in ecological systems, the global market players are under tremendous pressure to opt for more sustainable forms of packaging. However, issues like high cost, nonavailability of raw materials, and requirement of high funds are restricting the players from foraying into developing other solutions.
The growing product innovation may provide excellent growth opportunities while a strict regulatory landscape is expected to challenge the global market expansion.
The global soft drink concentrates market is segmented based on packaging, product type, sales channel, and region
Based on product type, the global market divisions are non-carbonated and carbonated. In 2021, the former market segment witnessed the highest growth. The distinctive experience provided by non-carbonated drinks along with a growing number of the population actively choosing healthier options are the main reasons for the segmental growth. In the latest survey conducted by Gallup, almost 61% of American citizens admitted that they try to avoid carbonated drinks like soda and prefer non-carbonated versions.
Based on the sales channel, the global market divisions are retail, institutional sale, and online. The global market was dominated by the retail segment in 2021 which consists of supermarkets, hypermarkets, and all other types of brick-and-mortar shops that sell soft drink concentrates. Since retail chains offer multiple options under one roof, consumers prefer to opt for purchasing products from physical stores. As per a recent survey, more than 53% of the respondents preferred retail shops over other modes of purchase.
North America is anticipated to lead the global soft drink concentrated market due to the highly advanced packaging industry and the presence of some of the largest innovating packaging solutions providers. The US is expected to become the major contributor to regional growth. The adoption of digital printing on outer packaging is a new and effective way of marketing or branding the product and creating excellent brand-recall value. Automation has played a key role in revolutionizing the packaging industry. Other additions like edible and custom packaging solutions, 3-dimensional printing, and nanotechnology may drive global market growth. Europe may register a high CAGR due to the high product adoption rate as soft drinks are a regular part of the everyday diet for almost all European citizens.
This review is based on a report by Zion Market Research, titled “Soft Drink Concentrates Market By Packaging (Bottles, Stand Up Pouches, and Cans), By Product Type (Non-Carbonated, and Carbonated), By Sales Channel (Retail, Institutional Sale, and Online), and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022 – 2030.”- Report at https://www.zionmarketresearch.com/report/soft-drink-concentrates-market
The leading players in the global soft drink concentrates market:
The global soft drink concentrates market is segmented as follows:
By Product Type
By Sales Channel
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