Soft Drink Concentrates Global Market Report 2024

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%. During the historic period, expansion can be attributed to several factors including consumer preferences favoring convenience and ready-to-drink items, globalization within the beverage industry leading to diverse flavor demands, economic influences driving cost-efficient production, flexibility in creating customized product formulations, and a growing emphasis on sustainability which resulted in 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%. In the forecast period, growth can be credited to health and wellness movements encouraging low-sugar and natural options, advancements in blending flavors and functional elements, the rise of specialized and high-quality soft drink categories, the prevalence of e-commerce and direct-to-consumer avenues, and an increasing focus on sustainability driving eco-friendly practices. Major trends anticipated in this period encompass the introduction of artisanal and craft concentrates, the adoption of fresh and cold-pressed ingredients, a spotlight on convenience with ready-to-drink formats, innovations in natural coloring agents, and the formation of strategic partnerships and collaborations.

The escalating demand for processed food and beverages is projected to drive the soft drink concentrates market in the forthcoming period. Processed food refers to any altered food during preparation, and soft drink concentrates act as additives, imparting sweetness and flavor to processed beverages. Notably, a report by the UK's Food and Drink Federation highlighted the industry's turnover, reaching $127.95 billion (£105 billion) in 2020 and $117.51 billion (£112 billion) in 2021, representing 20% of the UK's total manufacturing. This increase by 3.4% since 2020 underscores the substantial impact of the rising packaged food demand on the soft drink concentrates market.

Anticipated growth in disposable income is poised to propel the expansion of the soft drink concentrates sector. Disposable income denotes the remaining funds after taxes and essential expenses like food, housing, and debts. With increased disposable income, consumers often exhibit heightened purchasing power, potentially driving expenditures on non-essential items, including soft drinks. Statistics Iceland's data indicated a 9.2% rise in household gross disposable income from 2021 to 2022, with per capita disposable income reaching $0.35 million (4.9 million ISK) in 2022, marking a 6.5% increase from the preceding year. This trend strongly supports the premise that growing disposable income is a significant driver for the soft drink concentrates market. Innovation emerges as a pivotal trend in the soft drink concentrate market, fueled by advancements in analytical chemistry and a growing focus on sustainable solutions. Beverage manufacturers are actively launching novel products, such as plant-based additives, natural ingredients, low-sugar offerings, and concentrates boasting enhanced stability. For instance, in December 2021, Ingredion unveiled PureCircle NSF-13, an addition to its natural flavor modifier portfolio. This innovative solution, leveraging sugar-like steviol glycosides, reduces sugar content while augmenting specific flavor tones in beverages, including soft drinks. Its primary function lies in imparting sweetness while also mitigating potential bitterness.

Key players in the soft drink concentrate market are strategically introducing advanced solutions to optimize profitability. Notably, the introduction of multi-serve beverage concentrates, formulated to yield various flavors, stands as a prominent innovation. These concentrates, available in liquid or powdered form, are designed to be mixed with water or other liquids, creating a larger volume of the finished beverage from a smaller concentrate amount. An example of such innovation includes Splenda's May 2023 launch of the New Splenda Peel & Pour Zero Calorie Drink Mix. These liquid pods, simplifying the creation of delicious zero-calorie, zero-sugar drinks, are precisely portioned and convenient - requiring customers to peel, pour into a pitcher with two quarts of water, and enjoy a refreshing beverage over ice or cold.

In February 2022, Refresco, a Netherlands-headquartered beverage solutions provider, completed the acquisition of HANSA-HEEMANN for an undisclosed sum. This strategic move aims to enhance Refresco's operational efficiency. Additionally, the acquisition is poised to expand the scope of both company and product portfolios, enabling improved consumer offerings and extending comprehensive coverage to German retailers. HANSA-HEEMANN, a Germany-based independent beverage producer, specializes in the bottling of mineral water and non-alcoholic soft drinks.

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.

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 countries covered in the soft drink concentrates market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The main products of soft drink concentrate include carbonated and non-carbonated soft drinks. Carbonated beverages refer to soft drinks, which consist of carbonated water, a sweetener, and an artificial or natural flavor component. These are packed in stand-up pouches, bottles, and cans and distributed by various channels including on-trade, institutional sales, and retail used in food services, mass merchandise, fountain machines, and HoReCa.

The soft drink concentrates market research report is one of a series of new reports provides soft drink concentrates market statistics, including soft drink concentrates industry global market size, regional shares, competitors with a soft drink concentrates market share, detailed soft drink concentrates market segments, market trends, and opportunities, and any further data you may need to thrive in the soft drink concentrates industry. This soft drink concentrates market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The soft drink concentrate market consists of sales of aerated beverages, non-aerated beverages, juices, nectars, syrups, tea/coffee-based beverages, sports drinks, energy drinks, and fruit powders. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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