Market Size of Soft Drink Concentrates Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 5.34 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players.webp){kind=logo}
*Disclaimer: Major Players sorted in no particular order |
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Soft Drink Concentrates Market Analysis
The Global Soft Drink Concentrate Market is projected to register a CAGR of 5.34% during the forecast period.
The surge in urbanization in developing countries has led to a growing demand for ready-to-eat food and drinks. This has led to the easy availability of soft drink concentrates in the emerging market to meet the demand without the occurrence of a gap in supply. Though, consumers in developing countries are inclining their interest toward natural drinks without the trace of artificial sweeteners. Owing to this, the soft drink concentrates market in the established markets is moving towards maturity. Also, increasing consumer preference for such beverages has fueled the market. Also, the growth potential of the market depends on the research & development and opportunities to introduce new flavors of concentrates.
Additionally, the global soft drinks concentrate market is projected to develop significantly over the projection period, owing to an increase in consumer demand for healthier products. Moreover, growing people's expenditure on soft drinks in both developing and developed nations is also expected to boost beverage demand. According to Office for National Statistics in 2021, annual expenditure on fruit juices, vegetable juices, and other soft drinks in the United Kingdom was GBP 8.98 billion (USD 11.3 billion). This is likely to hasten the expansion of the global soft drinks concentrate market in the coming years. Furthermore, increased consumer knowledge of the advantages linked with soft drinks concentrates is projected to bolster the global soft drinks concentrate market growth. Key industry participants are working on novel items that entice people to consume their products, which is likely to raise soft drink sales internationally. Moreover, changing consumer lifestyles, combined with rising food and beverage demand, is likely to accelerate the growth of the global soft drinks concentrate market. Furthermore, the spike in the number of customers worldwide is expected to spur the expansion of the global soft drinks concentrate market.
