The Soft Drink Concentrates Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Soft Drink Concentrates Global Market Report 2024, The soft drink concentrates market size has grown strongly in recent years. It will grow from $35.13 billion in 2023 to $37.35 billion in 2024 at a compound annual growth rate (CAGR) of 6.3%. The growth in the historic period can be attributed to consumer demand for convenience and ready-to-drink products, globalization of beverage industry and diverse flavor preferences, economic factors and cost efficiency in production, flexibility in product formulations and customization, sustainability and reduced packaging waste..
The soft drink concentrates market size is expected to see strongly grown in the next few years. It will grow to $46.41 billion in 2028 at a compound annual growth rate (CAGR) of 5.6%. The growth in the forecast period can be attributed to health and wellness trends driving low-sugar and natural variants, innovation in flavor combinations and functional ingredients, emergence of niche and premium soft drink categories, e-commerce and direct-to-consumer distribution channels, environmental concerns driving sustainable practices.. Major trends in the forecast period include introduction of artisanal and craft concentrates, adoption of cold-pressed and fresh ingredients, emphasis on convenience and ready-to-drink formats, innovation in natural colorants, strategic partnerships and collaborations..
The rise in demand for processed food and beverages is expected to propel the soft drink concentrates market going forward. Processed food is defined as any food that has been changed in any way during its preparation. Soft drink concentrates are used as an additive that acts as a sweetener and flavoring ingredient in processed beverages. For instance, in July 2022, according to a report published by the Food and Drink Federation, a UK-based organization that represents and consults food and drink manufacturers, the processed food and drink industry had a turnover of $127.95 billion (£105 billion) in 2020 and a turnover of $117.51 billion (£112 billion) in 2021, accounting for 20% of total UK manufacturing, and it had increased by 3.4% since 2020. Therefore, the surge in demand for packaged food is driving the demand for the soft drink concentrates market.
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The soft drink concentrates market covered in this report is segmented –
1) By Product: Carbonated, Non-Carbonated
2) By Packaging: Stand Up Pouches, Bottle, Cans
3) By Sales Channel: On-Trade/Food Services, Institutional Sales, Retail
4) By End-User: Food Services, Mass Merchandise, Fountain Machines, HoReCa
Product innovation has emerged as a key trend gaining popularity in the soft drink concentrate market. Innovations in the field of analytical chemistry have provided efficient products. Additionally, sustainable solutions are being adopted by beverage manufacturers, and the market is witnessing the launch of new products such as plant-based additives, natural ingredients, low-sugar products, and concentrates with higher stability. For instance, in December 2021, Ingredion, a US-based food company that produces soft drinks, expanded its natural flavour modifier portfolio with the launch of a new solution PureCircle NSF-13. The uniqueness of the product is that it provides sweetness with reduced sugar content and a natural flavour that can be used in various applications, such as dairy, pastry, and beverages such as soft drinks. It is a flavour preparation agent that contains syrup of sugar-like steviol glycosides and enhances some specific flavour tones, mainly brown tones. It focuses on reducing possible bitterness in addition to its primary function of sweetness.
The soft drink concentrates market report table of contents includes:
- Executive Summary
- Soft Drink Concentrates Market Characteristics
- Soft Drink Concentrates Market Trends And Strategies
- Soft Drink Concentrates Market – Macro Economic Scenario
- Global Soft Drink Concentrates Market Size and Growth
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- Global Soft Drink Concentrates Market Competitive Benchmarking
- Global Soft Drink Concentrates Market Competitive Dashboard
- Key Mergers And Acquisitions In Soft Drink Concentrates Market
- Soft Drink Concentrates Market Future Outlook and Potential Analysis
- Appendix
Top Major Players :
- PepsiCo Inc.
- The Coca-Cola Company
- Cott Corporation
- Dohler GmbH
- The Kraft Heinz Company
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