LONDON--(BUSINESS WIRE)--The global soft drinks market size is poised to grow by USD 316 billion during 2019-2023, according to a new report by Technavio, progressing at a CAGR of close to 6% during the forecast period.
Read the 122-page research report with TOC on "Soft Drinks Market Analysis Report by product (carbonated soft drinks, juices, and juice concentrates, bottled water, RTD tea and coffee, and others) and geography (the Americas, APAC, and EMEA).
The market is driven by product innovations. Also, innovative marketing campaigns are anticipated to further boost the growth of the market during the forecast period.
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Continuous product innovations constitute one of the primary growth drivers for the global soft drinks market. Players are continuously innovating their products in terms of ingredients, formulation, and packaging to increase sales. Realizing the potential of the growing health and wellness trend among consumers, players are introducing products with added benefits. In April 2018, Sprite launched a reformulated product in the UK market. The new product uses a combination of sugar, acesulfame K, and aspartame, which claims to reduce the sugar content in the product by about 50%. Thus, continuous product innovations will help in the growth of the global soft drinks market during the forecast period.
Apart from product innovations, various innovative marketing campaigns adopted by players to attract consumers will help in driving market growth. Players such as THE COCA-COLA COMPANY and PepsiCo are revamping their marketing strategies to counter the global decrease in the sale of carbonated soft drinks. In April 2018, THE COCA-COLA COMPANY launched a new marketing campaign under the banner “We Do" in the UK. This campaign included billboard advertisements and social media campaigns as well. The campaign included images of Elvis Presley in the advertisements and was carried out to celebrate 132 years of Coca-Cola Classic. Such new marketing and advertising campaigns will help in the growth of the global soft drinks market during the forecast period.
To find out more about Soft drinks Market Research 2019-2023, https://www.technavio.com/talk-to-us?report=IRTNTR30064
The report includes detailed profiles of the leading companies & prominent vendors of the market:
- Keurig Dr Pepper
- Monster Energy Company
- Red Bull
- THE COCA-COLA COMPANY
Market Segmentation by Product:
The Soft Drinks Market can be broadly categorized into the following:
- Carbonated soft drinks
- Juices and juice concentrates
- Bottled water
- RTD tea and coffee
Key Regions for the Soft Drinks Market:
Featuring a breakdown of region-wise market shares until 2019.
Some of the key topics covered in the report include:
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- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
Related Reports on Consumer Staples are:
Energy Drinks Market in Latin America – Energy Drinks Market in Latin America by product (sparkling energy drinks and still energy drinks) and geography (Brazil, Mexico, Peru, and the rest of Latin America).
Functional Drinks Market – Global Functional Drinks Market by product segmentation (energy beverages, functional fruit and vegetable juices, sports beverages, prebiotic and probiotic drinks, and others), and geography (APAC, EMEA, and the Americas).
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