Still Drinks Market Growing Faster than Carbonated Drinks
As sales of carbonated and aerated drinks report a gradual but sure deceleration, the scales are now tipping in favor of still drinks. A rapidly expanding base of health conscious consumers is stirring up new consumption trends in the global beverage industry. Although carbonated, sugar-sweetened drinks currently hold a massive portion of both sales and value in the global beverage industry, growth is expected to be the fastest in the still drinks and natural drinks category. Options such as flavored water, non-aerated soft drinks, and juices are gaining more favor among consumers, creating a highly fertile ground on which the global still drinks market will grow in the coming years.
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Although the still drinks market currently has sizeable volume sales coming from densely populated countries such as India and China, value gains are substantial in developed markets such as the United States, the United Kingdom, Canada, Italy, Japan, France, Germany, and Russia. With these trends poised for a change in the coming years, the report forecasts the growth of the global and key regional markets in terms of value and volume. The projected value growth of the market has been expressed in US$ Mn.
This report assesses the different kinds of still drinks available in the market currently and recommends strategies to fill white spaces in the market. Leading end-use segments have been studied in the report to understand which of these would hold the maximum potential in terms of revenue and volume growth. Likewise, the regional markets are analyzed at length for the period ranging from 2015 to 2024 to create a holistic perspective of where the future opportunities like.
Still Drinks Market: Trends, Opportunities, and Restraints
The most evident opportunity in the global still drinks market lies in cultivating consumers in the new urban areas in Asian, Latin American, and East European countries. The underdeveloped still drinks market in these countries means that an appreciable number of unharnessed opportunities still exist in key markets within these regions. However, even as companies do so, the focus needs to remain firmly on availability and affordability. Retail channels across several emerging countries still need to be developed to suit the distribution plans of beverage manufacturers and the competitive prices of sparking and aerated drinks continue to be a roadblock in the growth of the still drinks market.
With beverage industry data showing a continued increase in per-capita consumption of soft drinks in countries such as India, new opportunities are likely to emerge in the coming years. Moreover, countries with a large young population represent a target market for still drink brands. Currently, the fruit juice segment accounts for nearly 30% of the global still drinks market. Growth in the Asia Pacific still drinks market is expected to outshine that of other regions.
Still Drinks Market: Competitive Overview
Given that numerous growth opportunities lie for the global still drinks market between conventional category lines, companies are now investing both time and money in launching innovative still beverages. As sales figures show telltale signs of consumers’ inclination toward non-carbonated drinks, the competition in the still drinks space is also expected to become fierce in the long term. Tropicana (PepsiCo) and Minute Maid (The Coca-Cola Company) are the two leading brands in the global still drinks market. The other key companies in the global still drinks market are: Nestle, Unilever, Asahi Soft Drinks Co. Ltd., Yakult, Calpis Co. Ltd., and others.