Soft Drinks Concentrate Market size is estimated to reach $40.68bn by 2025 with a CAGR of 5.45% during the forecast period 2020-2025. Soft drinks concentrates are beverages that contain carbonated or purified water, sweeteners, sweetening agents and synthetic flavoring substances. The increase in demand owing to ready-to-drink (RTD) beverages is driving the overall market. The sweeteners can be sugar, corn syrup with fructose, fruit juice or sugar substitutes, that is, artificial or natural. The soft drink concentrate market is growing significantly owing to ease of operation and the availability of varieties.
By End User Type- Segment Analysis
The soft drinks concentrate market based on end-user type has food Service, mass merchandise, Private clubs, fountain machine, and others (Quick Serving Restaurants (QSR) and private clubs). Among them fountain machines is fastest-growing segment in 2019 and is poised to grow in the forecast period 2020-2025, owing to reduce in time for drink preparation and ease of operation. In addition to this, the Soft drinks concentrate market is segmented based on forms as powder concentrate and liquid concentrate. Comparatively, powder concentrates has longer shelf life than liquid concentrates.
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By Application Type- Segment Analysis
The application type of Soft Drinks Concentrate Market is segmented based on carbonated and non-carbonated soft drink concentrate. Among the carbonated soft drink concentrate segment, in 2019 cola concentrate had the largest share as compared to the non-cola variant. However, increasing consumer consciousness towards their health is poised to support the growth of non-cola soft drink concentrate as cola contains a high amount of caffeine. Variants of the non-cola soft drink include apple, mixed fruit or mixed berries, grapes, pineapple, citrus fruit, mango, and others. While Consumers becoming more conscious about health, the demand for healthy and all-natural food products is set to grow in the forecast period (2020-2025).
By Geography - Segment Analysis
Geographically in 2019, Europe was in lead for The Soft Drink Concentrates market. Owing to the growing population and the increasing availability of various soft drinks are factors that are poised to contribute to the growth of the market in developing countries for the forecast period (2020-2025). The Asia Pacific soft drink concentrate market is set to grow positively for the forecast period 2020-2025. The region is poised to show the fastest growth in countries such as China, India, Korea, and Japan owing to rising disposable incomes, population growth, and changes in eating habits.
Drivers – Soft Drinks Concentrate market
Improving Lifestyle
The ongoing changes in lifestyle owing to developments in the food and beverage sector have majorly augmented the demand in the soft drink concentrates industry. Multinational companies' consumer-focused advertising is set to drive the growth of the soft drink concentrate market with the availability of various types of soft drink concentrate products worldwide.
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Challenges – Soft Drinks Concentrate market
Increase in Health Awareness
Soft Drink Concentrates with cola contains large amounts of caffeine, with increased health awareness among consumers is poised to support the growth of non-coke concentrates. Consumers are becoming more aware of their health, so the demand for coke segment is set to decrease and is poised to go down in the forecast period (2020-2025).
Soft Drink Concentrate industry outlook:
Product launches, mergers and acquisitions, joint ventures and geographical expansions are key strategies adopted by players in the Soft Drinks Concentrate market. Key companies of this market are Kraft Foods, The Coca-Cola Company, PepsiCo Inc., Royal Cusan, Big Red Inc., Monster Beverage Corporation, Dohler Group, Cott Corporation, Nestle SA, and Dr. Pepper Snapple Group
Acquisitions/Product Launches:
In May 2018, Coca-Cola established a juice processing plant in Kenya. Coca-Cola companies in East and West Africa based in Nairobi plan to align a variety of soft drinks in the Kenyan market to meet the growing demand for the consumers.
Indian-based fruit concentrate manufacturers have mainly deployed Indian children's products in recent years. In addition to developing product and sales channels, soft drink concentrate manufacturers are focusing on improving packaging to meet consumers' simultaneous demand for packaging.
Key Takeaways
Geographically, Soft Drinks Concentrate market share is high in North America and Europe in 2019, owing to the adoption of advanced technologies in food manufacturing and increase in awareness among consumers about food safety.
The Soft drinks concentrate market is poised to witness healthy growth rate through the forecast period (2020-2025), owing to rising demand for ready-to-drink and convenience food preparation from consumer across the globe.
The rising focus on research and development coupled with the business created with new flavors is set to drive the market growth. The soft drink concentrate market is poised to grow owing to increase in demand for luxurious and healthy products.
Detailed analysis on the Strength, Weakness and Opportunities of the prominent players operating in the market will be provided in the Soft Drinks Concentrate market report.
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