The global cordial
drink market size is expected to experience dynamic growth owing to the
heightening concerns surrounding the consumption of alcohol, observes Fortune Business Insights™ in its
report, titled “Cordial Drink Market, 2021-2028”. According to the World Health Organization (WHO), approximately 3
million deaths worldwide are caused by the harmful use of alcohol. In terms of
disability-adjusted life years (DALYs), the WHO estimates that alcohol is
responsible for 5.1% of the global burden of disease. Furthermore, research studies
have established causal links between alcohol abuse and a range of physical,
mental, and behavioral disorders, including infectious diseases such as
tuberculosis. As a result, the demand for non-alcoholic beverages has steadily
risen around the globe, as consumers are actively reducing their alcohol
intake. Cordial drink products, or squash, which are non-alcoholic sweet,
dessert-like drinks, have emerged as an ideal alternative to alcoholic spirits
as they are less harmful, contain no intoxicating substances, and can be
consumed for any occasion. The increasing preference for such beverages is,
therefore, boosting the future prospects of this market.
The sudden emergence of the COVID-19 contagion has stymied global
economic activities. The food & beverage industry is facing a series of
challenges because of the delicate situation created by the pandemic. For
example, supply chain disruptions, trade restrictions, and lockdowns have
affected production activities, while social distancing rules have kept
consumers away from shops, impacting sales in the process. We, at Fortune
Business Insights™, are also
striving to provide you with in-depth market intelligence to help your business
survive during this pandemic. Based on our experience and expertise, we
are offering a comprehensive impact analysis of the coronavirus outbreak on
your business and help you strategize according to the changing economic
situation.
How Has the Market Been Segmented?
On the
basis of type, the market segments include fruit cordials, vegetable cordials,
and herbs & spices cordials. Based on distribution channel, the market has
been segregated into supermarkets/hypermarkets, departmental stores, and online
retail. Geographically, the market has been categorized into North America,
Europe, Asia Pacific, South America, and the Middle East & Africa.
What Does the Report Offer?
·
Holistic insights into the drivers,
trends, and restraints shaping the market;
·
Granular evaluation of all market
segments;
·
In-depth assessment of the regional
dynamics and competitive milieu of the market; and
·
Accurate computation of relevant
market figures and values.
Restraining Factor
Increasing Prevalence of Lifestyle Disorders to Hinder the Market
One of the
major obstructions facing the cordial drink market growth is the rising
incidence of lifestyle-related disorders. For example, the WHO has stated that
cardiovascular diseases, which killed nearly 18 million people in 2016, is the
number one cause of death, accounting for 31% of all global deaths every year.
Another chronic disease deteriorating public health is diabetes. According to
the International Diabetes Federation (IDF), in 2019, nearly 465 million people
were afflicted by diabetes and by 2045 this number is projected to swell to 700
million. Cordial drinks are infused with artificial sweeteners that directly
enter the bloodstream when consumed, spiking blood sugar levels in the process.
Elevated sugar levels in the body can trigger a host of detrimental effects and
rapidly diminish the quality of life of an individual. As health consciousness
increases among consumers, especially in urban areas, the uptake of sweetened
drinks is likely to fall in the coming years.
Regional Insights
Packaging Innovations to Drive the Market in Asia Pacific
Among
regions, Asia Pacific is slated to lead the cordial drink market share in the
forthcoming period, backed by exciting innovations in packaging materials and
technologies in the region’s burgeoning food processing industry. Many beverage
companies are employing recycled plastics to package their products, which is
stoking the growth of the regional market. In addition, the rising popularity
of non-alcoholic, fruit-based drinks in the urban spaces of India and China is
also contributing to the growth of the market. In Europe, strong demand for
on-the-go beverages and increasingly busy lifestyles of consumers are expected
to drive the regional market.
Competitive Landscape
Portfolio Expansion to be the Leading Growth Strategy for Key
Players
With the
demand for flavored drinks soaring worldwide, key market players are
aggressively expanding their portfolios to cater to the changing beverage
preferences of drinkers. These companies are focused on creating novel squash
products to improve brand visibility as well as gain traction in the emerging
markets of Asia and Africa.
Industry Development:
·
March
2020: Robinson’s, a prominent cordial drink brand based in
the UK, unveiled a new sub-brand called ‘Superfruit Cordials’ in two flavors –
Raspberry & Goji Berry and Orange & Acerola Cherry. The drinks contain
no artificial flavorings or sweeteners and have a good amount of vitamins and
minerals.
List of Key Players Covered in the
Cordial Drink Market Report:
·
Mapro Foods Pvt. Ltd.
·
Hamdard Laboratory
·
Rasna Private Limited
·
Cottee’s Pvt. Ltd.
·
Britvic Plc
·
Nichols Plc
·
Sunquick
·
The Coca Cola Company
·
Bickford’s Australia Pvt. Ltd.
Browse Summry
https://www.fortunebusinessinsights.com/cordial-drink-market-102450
