Soft Drink Market
The global soft drink market is projected to expand at a CAGR of 4.2% over the forecast period. The changing preference of consumers towards innovative flavours from standard flavours and the growing ageing population will drive the market growth.
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Soft Drink Market Dynamics
Growth in the soft drink market is driven by the growing demand for packed water and the increasing health awareness among individuals. With the increasing health consciousness among consumers, the demand for beverages made from natural ingredients with zero calories has increased. Also, the growing demand for high-quality soft drinks formed at low calories with natural sweeteners will bolster the market growth. The soft drink market research projects that the accelerating GDP rates and the growing disposable income, primarily in India and China have bolstered the market share.
The evolution of the coronavirus has left a positive impact on the market demand. With the strict lockdown norms, consumers have started stocking up their favorite food and beverages to curb the spread of virus. However, the strict norms enforced by the government to confine marketing activities towards children and the need to label and list the ingredient on the product will restrain the soft drink market size.
Distribution Channel Segment Drivers
By distribution channel, the supermarkets segment will hold a significant share due to the easy accessibility of exclusive variety, quality, and handy pack sizes of soft drinks for end-users in the market. Hypermarkets, on the other hand, offer brand visibility, captivating display portfolios, and substantial cold facilities, which helps to preserve nutrients, colors, and flavors of the beverages.
Product Segment Drivers
The carbonated soft drinks segment dominated the soft drink market during the forecast period owing to the easy availability of the carbonated soft drinks across significant distribution channel, including hypermarkets, supermarkets, convenience stores, and online stores.
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