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According to Technavio, the global non-alcoholic beverage market and the place where the products are placed are expected to reach USD 216.74 billion. This marks a significant market-held expansion compared to the 2019 expansion estimates due to the effect of the COVID-19 pandemic in the first part of 2020. However, stable expansion is expected to continue throughout the forecast era and the place at market is expected to grow to a CAGR close to 5%.
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Technavio announced its latest market report, Global Soft Drink Market 2020-2024 (Chart: Business Wire)
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Read the 120 page with OCD on “Product Soft drink market analysis report (soft drinks, juices and juice concentrates, bottled water, TEA and RTD coffee, et al.), Geography (North America, Europe, APAC, South America and MEA) and industry forecasts, 2020-2024”.
https://www.technavio.com/report/soft-drinks-market-industry-analysis
The market is driven by product innovations. In addition, state-of-the-art market campaigns are expected to drive expansion in the comfortable beverage market.
Market distributors continually innovate their products in terms of ingredients, formulas and packaging to attract customers and drive sales. In addition, growing customer awareness of fitness and well-being is driving suppliers to introduce products with more benefits. For example, in April 2018, Nestlé’s Perrier incorporated the new peach flavor into its existing diversity of sparkling mineral water. The new product has herbal flavors, contains no sugar or calories. Similarly, in April 2018, Coca-Cola introduced the reformulated edition of Sprite for the UK market. The new product uses a mixture of acesulfame K and aspartame and would have 50% less sugar. The advent of these cutting-edge products is driving the expansion of the global market for comfortable beverages.
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Five main comfortable beverage companies:
Cott Corp.
Cott Corp. operates segments such as route-based services, coffee, tea and extract solutions, and others. The company offers bottled water products such as Mountain Valley spring water, VOSS artesian water, Fijian water, sparkling ice, LaCroix sparkling water, polar sparkling water and nursery water.
Danone SA
Danone SA operates its business through segments such as Specialized Nutrition, Essential Dairy and Plant-Based Products, and Waters. The company offers soft drink products such as vitamin drinks, aquadrinks, and sweet beverages under the brands of evian, Volvic, AQUA, Font Vella, Bonafont, Mizone, and others.
Keurig Dr Pepper Inc.
Keurig Dr Pepper Inc. operates in segments such as beverage concentrates, packaged beverages, Latin American beverages and coffee systems. The company offers a wide variety of soft drinks with flavor, teas and water, as well as juices and juice-based beverages such as the Dr Pepper, 7up, Schweppes, Canada Dry, Clamato, Nantucket Nectars and Mistic brands.
Monster Beverage Corp.
Monster Beverage Corp. operates in segments such as Monster Energy beverages, strategic brands and others. The corporate offers a wide variety of energy drinks from the Monster Energy, Burn, NOS, Full Throttle, Relentless, Mother, Reign, Predator brands, among others.
Nestlé SA
Nestlé SA operates through segments such as AMS, EMENA, AOA, Nestlé Waters and other activities. The company offers bottled water, sparkling mineral water and iced tea products from various brands such as Vittel, Pure Life, S.Pellegrino, Perrier, Poland Spring, Nestea, Nesquik and others.
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Perspective of non-alcoholic beverage market products (revenue, billions of dollars, 2020-2024)
Non-alcoholic beverages
Juices and concentrates of juices
Bottled water
RTD tea and coffee
Other
Perspective on the geography of the comfortable beverage market (revenue, billions of dollars, 2020-2024)
North america
Europe
Apac
South america
Mea
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Technavio Research Jesse Maida U.S. Media and Marketing Director: ‘1844364 1100 UK:’ 44203893 3200 Email: [email protected] Website: www.technavio.com/