Cold Drinks Market Global Industry Status, Driving Factors Analysis Report 2023
3rd May 2019 - Global cold drink market is expected to grow at a significant CAGR in the upcoming period as the scope and its applications are rising enormously across the globe. A cold drink is a popular chilled beverage that does not contain alcohol. It may contain carbonated water, a natural or artificial flavoring, and a sweetener.
The factors that are playing a major role in the growth of cold drinks market are the rising demand for natural drinks from customers, the high demand for super-premium soft drinks, and the rising consumption of healthy drinks. However, the presence of substitutes and the use of harmful ingredients may restrain overall market growth in the years to come. The market is segmented based on type, product type, packaging type, distribution channel, and region.
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Regular, diet, low-calorie, mid-calorie, flavored, caffeinated, and caffeine-free are the types that could be explored in cold drink market in the forecast period. The low-calorie sector accounted for the substantial share of the market and is estimated to continue its dominance in the years to come. The reason could be the rising health consciousness populace and the increasing awareness among populace regarding harmful ingredients.
Functional drinks, carbonated soft drinks, ready-to-drink (RTD) tea and coffee, flavored water, juices and juice concentrate, and other product types could be explored in cold drinks market in the forecast period. Juices and juice concentrate may account for the significant share of the market. In addition, ready-to-drink tea and coffee sector is estimated to grow at the fastest pace in the years to come.
Soda foundation, bottled, cans, and other packaging types could be explored in the market in the forecast period. The cans sector accounted for the substantial share of cold drinks market and is estimated to lead the overall market in the years to come.
Based on the distribution channel, vending machine operations, supermarkets and general merchandisers, gas stations and convenience stores, food service and drinking places and others could classify cold drinks in the forecast period. Supermarkets and general merchandisers sector accounted for the significant share of the market and are estimated to lead the overall market in the years to come. The reason could be the availability of products at relatively low cost in comparison to other shops.
Globally, North America accounted for the significant share of cold drinks industry and is estimated to lead the overall market in the years to come. The reason behind the overall market growth could be the sedentary lifestyle, the presence of key manufacturers in the region, and the growing number of customers preferring non-carbonated beverages. The United States is a major consumer of cold drinks in this region.
Europe and the Asia Pacific are also estimated to have a positive influence on future growth. Europe is the second largest region with significant market share. However, Asia Pacific is estimated to grow at the highest CAGR in the forecast period. The developing countries like India and China are the major consumers of cold drinks in this region.
The key players of cold drinks market are Big Red, The Coca-Cola Company, Rockstar, PepsiCo, Red Bull, Nestlé Waters, Monster Beverage, Dr. Pepper Snapple, National Beverage Corp., and Danone. These players are concentrating on inorganic growth to sustain themselves amidst fierce competition.
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