Insights into the Future Growth Potential of the Soft Drink Concentrates Global Market Report 2024 Market 2024-2033
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What is the Expected Expansion Rate of the Soft Drink Concentrates Market in the 2024-2033 Forecast?
In the past few years, there has been a robust growth in the size of the soft drink concentrates market. It is forecasted to escalate from $35.13 billion in 2023 to $37.35 billion in 2024, registering a compound annual growth rate (CAGR) of 6.3%. This growth during the historic period is owed to factors like the consumer inclination towards convenient and ready-to-drink products, the globalization of the beverage industry, diverse flavor choices, economic aspects and cost-productive manufacturing, adaptability in product formulations and customization, sustainability, and a decrease in packaging waste.
The market for soft drink concentrates is projected to witness significant growth in the forthcoming years, escalating to a value of $46.41 billion in 2028, with a compound annual growth rate (CAGR) of 5.6%. This anticipated growth within the forecast period is a derivative of several factors such as rising health and wellness trends leading to an increased demand for low-sugar and natural versions, innovative flavour combinations and functional ingredients, the rise of niche and premium soft drink categories, e-commerce and direct-to-consumer sales channels, and environmental concerns propelling sustainable practices. Key trends in the forecasted period comprise the launch of artisanal and craft concentrates, the utilization of cold-pressed and fresh constituents, the focus on convenience and ready-to-drink formats, innovations in natural colorants, and strategic alliances and collaborations.
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What Factors Are Catalyzing the Growth of the soft drink concentrates Market?
The soft drink concentrates market is set to be driven forward by the increasing necessity for processed food and beverages. Anything that has been altered during its preparation is classed as processed food. As an additive in processed drinks, soft drink concentrates serve to enhance sweetness and taste. For example, a report by the Food and Drink Federation, a UK organization providing representation and consultation to food and drink manufacturers, in July 2022 mentioned that the processed food and drink sector had a turnover of $127.95 billion (£105 billion) in 2020, and that this number increased by 3.4% in 2021 to reach a turnover of $117.51 billion (£112 billion), accounting for 20% of the entire UK manufacturing sector. This indicates that the soft drink concentrates market is being boosted by the heightened demand for pre-packaged food.
Which Segments Are Important in the Soft Drink Concentrates Market Landscape?
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 Merchandize, Fountain Machines, HoReCa
What Are the Groundbreaking Trends in the Soft Drink Concentrates Market?
A significant trend presently being observed in the soft drink concentrate market is the advent of product innovation. Advances in analytical chemistry have led to the creation of superior products. Moreover, soft drink manufacturers have begun to adopt eco-friendly processes and solutions, leading to a flux of fresh introductions in the market like concentrates with increased stability, natural ingredients, plant-based additives, and low-sugar items. For instance, Ingredion, a US-company producing soft drinks, broadened its repertoire of natural flavour enhancers in December 2021 with the innovative PureCircle NSF-13. This unique product provides reduced sugar content while maintaining the desired sweetness and natural flavour and can be incorporated in various applications including pastries, dairy, and soft drinks. It is a flavour-boosting agent, containing sugar-like steviol glycosides syrup that heightens certain flavour notes, particularly those with a brownish hue. Notably, apart from its chief function of adding sweetness, it also actively works to mitigate any potential bitterness.
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What Are the Key Regions Powering Growth in the Soft Drink Concentrates Market?
North America was the largest region in the soft drink concentrates market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the soft drink concentrates market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The Soft Drink Concentrates Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the soft drink concentrates market, its market share, and analyzes key competitors along with their market positions.
The Table Of Content For The Soft Drink Concentrates Market Include
1. Soft Drink Concentrates Market Executive Summary
2. Soft Drink Concentrates Market Segments
3. Soft Drink Concentrates Market Size And Template Market Growth Rate
4. Key Soft Drink Concentrates Market Trends
5. Major Soft Drink Concentrates Market Drivers
……
25. Key Mergers And Acquisitions In The Soft Drink Concentrates Market
26. Top Soft Drink Concentrates Companies
27. Soft Drink Concentrates Market Opportunities And Strategies
28. Soft Drink Concentrates Market, Conclusions And Recommendations
29. Appendix
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