LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the global still drinks market is expected to grow at a CAGR of more than 6% during the forecast period.
This research report titled ‘Global Still Drinks Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.
Currently, players are focusing on providing a broad range of flavors in still drinks (such as juices, bottled water, energy and sports drinks, and RTD tea and coffee) to attract consumers, which would eventually help the global still drinks market grow during the forecast period. Numerous growth opportunities lie for the global still drinks market as players are increasingly innovating their conventional still drink offerings by blending and adding healthy ingredients. This is because changes in popular categories often attract new consumers and help the company to retain the old ones.
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Technavio’s food and beverages research analysts categorize the global still drinks market into the following segments by product type. They are:
- Still bottled water
- Still juice
- Still RTD tea and coffee
- Still energy and sports drinks
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The top three revenue-generating product type segments of the global still drinks market are discussed below:
Still bottled water
The global still bottled water market is expected to experience a steady year-over-year growth rate during the forecast period. The expanding population base, especially in the emerging countries in APAC, and the overall increase in the awareness of waterborne diseases among consumers is helping the demand for still bottled water grow.
According to Manjunath Reddy, a lead food research analyst from Technavio, “Still unflavored bottled water is quite popular among consumers across the globe. AQUAFINA, Aqua Pura, and EVIAN are some of the popular brands of unflavored still bottled water. This variety of bottled water accounts a significant share in the global bottled water market. Many players are introducing new unflavored water products. For instance, in 2017, Nestlé rolled out Pure Life Kids Still Water to China to capitalize on the trend of healthy drinking.”
Still juice
The market is expected to grow at a moderate rate during the forecast period because of the growing demand for healthy beverages which is eventually opening new opportunities for players operating within still juice market. Players are introducing new products to cater to the increasing demand from consumers.
“The introduction of new varieties, especially the cross-sectional ones, which include a blend of fruit and vegetable still juices, is one of the main drivers of the global still juice market. Still juices made from vegetables are gradually becoming popular owing to their high-nutritional and low-calorie contents. The flavor- and function-driven innovations in low-juice-content beverages, as well as premium super fruit 100% juices, will likely drive this market's growth in the next five years,” adds Manjunath.
Still RTD tea and coffee
The global still RTD tea and coffee market is currently growing at a high rate. This is because these still drinks have several benefits such as antioxidant property and low-calorie content, which distinguish them from other soft drinks. An increasing awareness of the adverse effects of high-sugar-containing carbonated soft drinks is motivating consumers to try still RTD tea and coffee.
The rising urban population base is yet another major driver for the market's growth. The introduction of flavored still RTD tea and coffee is one of the emerging trends in the market. However, the traditional habit of drinking hot tea and coffee can hinder the growth of the market. Players are innovating new styles of packaging to attract consumers and are also resorting to smart advertising techniques to target the young population base. They are also using social media platforms to advertise their products.
The top vendors highlighted by Technavio’s research analysts in this report are:
- Danone
- Nestlé
- PepsiCo
- The Coca-Cola Company
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