Press release
Soft Drink Concentrates Market Size, Development, Growth Prospects And Outlook 2024-2033
Soft Drink Concentrates Market
The Business Research Company offers in-depth market insights through Soft Drink Concentrates Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The soft drink concentrates market size has grown strongly in recent years. It will grow from $35.13 billion in 2023 to $37.35 billion in 2024 at a compound annual growth rate (CAGR) of 6.3%. The growth in the historic period can be attributed to consumer demand for convenience and ready-to-drink products, globalization of beverage industry and diverse flavor preferences, economic factors and cost efficiency in production, flexibility in product formulations and customization, sustainability and reduced packaging waste.
The soft drink concentrates market size is expected to see strongly grown in the next few years. It will grow to $46.41 billion in 2028 at a compound annual growth rate (CAGR) of 5.6%. The growth in the forecast period can be attributed to health and wellness trends driving low-sugar and natural variants, innovation in flavor combinations and functional ingredients, emergence of niche and premium soft drink categories, e-commerce and direct-to-consumer distribution channels, environmental concerns driving sustainable practices. Major trends in the forecast period include introduction of artisanal and craft concentrates, adoption of cold-pressed and fresh ingredients, emphasis on convenience and ready-to-drink formats, innovation in natural colorants, strategic partnerships and collaborations.
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Market Segmentation:
The soft drink concentrates market covered in this report is segmented -
1) By Product: Carbonated, Non-Carbonated
2) By Packaging: Stand Up Pouches, Bottle, Cans
3) By Sales Channel: On-Trade/Food Services, Institutional Sales, Retail
4) By End-User: Food Services, Mass Merchendise, Fountain Machines, HoReCa
Major Driver - Growing Demand For Processed Food And Beverages Drives Soft Drink Concentrates Market
The rise in demand for processed food and beverages is expected to propel the soft drink concentrates market going forward. Processed food is defined as any food that has been changed in any way during its preparation. Soft drink concentrates are used as an additive that acts as a sweetener and flavoring ingredient in processed beverages. For instance, in July 2022, according to a report published by the Food and Drink Federation, a UK-based organization that represents and consults food and drink manufacturers, the processed food and drink industry had a turnover of $127.95 billion (£105 billion) in 2020 and a turnover of $117.51 billion (£112 billion) in 2021, accounting for 20% of total UK manufacturing, and it had increased by 3.4% since 2020. Therefore, the surge in demand for packaged food is driving the demand for the soft drink concentrates market.
Competitive Landscape:
Major companies operating in the soft drink concentrates market report are PepsiCo Inc., The Coca-Cola Company, Cott Corporation, Dohler GmbH, The Kraft Heinz Company, Dr. Pepper Snapple Group Incorporated, Big Red Incorporated, Monster Beverage Corporation, Royal Cushion Vinyl Products Ltd., Nestle SA, David Berryman Limited, Royal Crown Cola Company Incorporated, Ingredion Incorporated, National Beverage Corporation., Southern Flavoring Company Inc., S&D Coffee & Tea Inc., Silver Ice Beverages, Bevolution Group, Varun Beverages Limited, Republic Technologies, Maypro Industries Ltd., Dunkin' Brands Group Inc., Polar Beverages Inc., United Soft Drinks B.V., Suntory Beverage & Food Limited, Parle Agro Pvt. Ltd., Dhampur Green Organics Pvt. Ltd., ISBT International Flavors & Fragrances Inc., Rich Products Corporation, Cargill Incorporated, Kerry Group plc, Sensient Technologies Corporation, Archer Daniels Midland Company, International Flavors & Fragrances Inc.
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Top Trend - Innovative Soft Drink Concentrates Revolutionize The Market With Sustainable And Flavorful Solutions
Product innovation has emerged as a key trend gaining popularity in the soft drink concentrate market. Innovations in the field of analytical chemistry have provided efficient products. Additionally, sustainable solutions are being adopted by beverage manufacturers, and the market is witnessing the launch of new products such as plant-based additives, natural ingredients, low-sugar products, and concentrates with higher stability. For instance, in December 2021, Ingredion, a US-based food company that produces soft drinks, expanded its natural flavour modifier portfolio with the launch of a new solution PureCircle NSF-13. The uniqueness of the product is that it provides sweetness with reduced sugar content and a natural flavour that can be used in various applications, such as dairy, pastry, and beverages such as soft drinks. It is a flavour preparation agent that contains syrup of sugar-like steviol glycosides and enhances some specific flavour tones, mainly brown tones. It focuses on reducing possible bitterness in addition to its primary function of sweetness.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Soft Drink Concentrates Market Characteristics
3. Soft Drink Concentrates Market Trends And Strategies
4. Soft Drink Concentrates Market - Macro Economic Scenario
5. Soft Drink Concentrates Market Size And Growth
…..
27. Soft Drink Concentrates Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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