Credible Markets has released a new report titled, “Diet Soft Drink Market size, share & trends analysis report by ingredient, by origin, by distribution channel, by region, forecast period 2021 – 2028”. According to the report, the global soft drink market is expected to witness robust growth in 2021-2028 period, thanks to growing health consciousness, and strong recovery in key regions from Covid-19. The demand for low-carbonated drinks remains high, and will likely make way for strong growth for future growth with more organic brands.
The global soft drink market stood at USD 4.1 billion in 2018. This demand represented a small portion of the total soft drink market, wherein diet soft drinks accounted for less than 30% of total soft drinks for major brands like Pepsi. However, the momentum of growth remains firmly in favour of low-calorie, organic, diet brands in near future as public health consciousness has lowered sales for key soft drink brands over the last few decades. The diet soft drink market report will cover various ingredient-based market overview including carbonated water, acids, sweeteners, fruit/fruit juice, emulsions, preservatives, and anti-oxidants, among others. The report will also provide market overview for natural, and synthetic origin-based outlook for diet soft drinks during the 2021-2028 period.
The global soft drink market remains a consolidated, and yet innovative landscape as demand for traditional brands shows limited scope for growth. Hence, key players in the market including PepsiCo; Coca Cola; Nestlé; Keurig Dr Pepper, Inc, Cott Corporation; Unilever and Polar Beverages are continuously experimenting with new brands to appeal to consumers. The potential for new products remains a promising prospect for entry for new players, while high-margins for distribution in developed region remains a key challenge for entry.
High Share of Supermarkets and General Stores to Dominate Growth
Conventionally, the supermarkets, and general merchandise stores have dominated a large share of the diet soft drink market. In 2018, the revenue gathered from these channels amounted to USD 1.4 billion. The growing advancements in supermarkets including technological integration to scan products, and regular dependence of consumer on soft drinks in key markets like North America will drive significant growth in the distribution over the forecast period. The e-commerce is increasingly playing an important role in purchase of everyday food products. However, despite the major growth in the distribution channel, cheap availability of diet soft drink products, and convenient access to soft drinks at super markets remain promising drivers of growth. The large availability of diverse, and economic products continues to remain promising drivers of growth, with increased willingness from consumers to purchase premium natural and organic products. The premium brands are witnessing increased visibility in super markets, and stores as rise of other organic products like wholesale foods is on the rise. The growing demand for organic, and convenience provided by supermarkets will continue to drive strong growth for players in the diet soft drink market.
North America Likely to Occupy Largest Share of Total Revenues
The diet soft drink market report is segmented on the basis of region into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. Among these regions, the North America will occupy the largest share of revenues in 2021-2028 period. North America region accounted for USD 1.4 billion in 2018. Moreover, the region is also home to favorable regulatory environment, and huge consumption among young people of soft drinks remains a promising driver of growth in this region. The growing competition in organics, and increasing shift of millennials towards health-conscious beverages will continue to open new opportunities for new players in the diet soft drink market. The unique flavors of new products, and nutritional benefits will likely bring in new consumers to the diet soft drink market during the forecast period. Despite several promising progress in the North America region, the Asia Pacific region will likely account for fastest CAGR in the diet soft drink market. The growing demand for quality food and beverages, the mass appeal of soft drinks, and major demand for conventional, as well as new soft drink products remains a major driver of growth in the Asia Pacific region. The large population in countries like India, China, and growing disposable income in the region remains key opportunities for growth in the diet soft drink market.
The Asia Pacific region has become the key focal points for many large players in the diet soft drink market. The mass appeal of the region, and unique tastes are pushing global brands to introduce new products based on low-sugar soft drinks to appeal to health conscious population. The tremendous demand for sugar-based soft drinks, and demands to meet unique weather conditions like tropical climate has also pushed companies to focus more on diet products. Countries like India remains an important market for players in the global diet soft drink market.
Diet Soft Drink Market Report is Segmented as Follows:
- Carbonated Water
- Colors & Flavorings
- Fruit/Fruit Juice
- Anti-oxidants & Others
- Synthetic / artificial
Distribution Channel Outlook
- Supermarkets & General Merchandisers
- Convenience Store
- Food Service & Drinking Places
- Regional Outlook
- North America
- The U.S.
- The U.K.
- Asia Pacific
- Central & South America
- Middle East & Africa
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