The global and local Carbonated Soft Drinks market has been getting some of its fizz back in 2021, following a relatively flat period, resulting from the massive impact of the COVID-19 pandemic in 2020. For example, The Coca-Cola Company recorded a 9% decline in global sales, for the 2020 calendar year. In an attempt to stimulate consumption volume, global and local players have been introducing a range of refreshingly new and innovative products, with the hope that it resonates with capricious consumer tastes and demands.
Insight Survey’s latest South African Carbonated Soft Drinks Industry Landscape Report 2021, carefully uncovers the global and local Carbonated Soft Drinks market (including the impact of COVID-19), based on the latest intelligence and research. In particular, it describes the latest global and local market trends, innovation and technology, drivers and challenges, to present an objective insight into the South African Carbonated Soft Drinks industry environment and its future.
Globally, the Carbonated Soft Drinks market was valued at approximately US$221.6 billion in 2020, after a significant decline from 2019. As per the graph below, the global Carbonated Soft Drinks market is forecast to increase by a compound annual growth rate (CAGR) of 4.7% between 2021 and 2028, to reach approximately US$320.1 billion by 2028.
In terms of the South African market, the local Carbonated Soft Drinks industry achieved marginal growth of 0.7% year-on-year, between 2019 and 2020, and is expected to grow at a 1.5% CAGR between 2021 and 2025. In addition to strong retail promotions, the predicted market growth is being driven by the launch of innovative Carbonated Soft Drink products and concepts.
Globally, this includes the introduction of innovative packaging, catering to the rising demand for sustainable and eco-friendly packaging. Furthermore, there has been the launch of smarter and more convenient ways to obtain Carbonated Soft Drinks, including subscription services, smart soda machines, online delivery, and office beverage programmes.
In South Africa, in addition to the Health Promotion Levy (sugar tax), more local consumers are also demanding wellness-focused beverages, resulting in the introduction of healthier alternatives, including reduced-sugar variants, as well as zero-calorie and fortified Carbonated Soft Drink options. An example of this includes the success of the popular Pura Soda beverage, which contains only 11.6 grams of sugar per 330ml can, is completely natural, and contains no artificial flavours, preservatives, or additives.
Similarly, this movement towards health and wellness has resulted in the emergence of non-alcoholic beverage alternatives, a trend that has been bolstered by the country’s COVID-19-related restrictions on the sale of alcohol. As a result, various alcohol-free beverage alternatives have been launched, including the Fitch & Leedes Moments and Classics vintage mocktail product ranges, The Duchess Alcohol-Free Gin & Tonic, and Schweppes’ Mojito Mint and Lime flavoured Carbonated Soft Drink products. These Carbonated Soft Drinks have been designed as alcohol-free alternatives to consumers’ favourite alcoholic beverages.
Furthermore, the South African Carbonated Soft Drink industry has seen various innovations in packaging, resulting from the increased importance being placed on eco-friendly and environmentally friendly practices, by local consumers. In response, Coca-Cola has committed to various sustainability goals and has introduced several innovative initiatives, such as its returnable PET bottles, as well as its commitment to educate consumers on the importance of recycling. Additionally, in 2020, Fitch & Leedes launched its 100% recyclable, eco-friendly 1 litre PET bottle for the group’s Pink and Indian Tonic products.
The South African Carbonated Soft Drinks Industry Landscape Report 2021 (120 pages) provides a dynamic synthesis of industry research, examining the local and global Carbonated Soft Drinks industry (including the impact of COVID-19) from a uniquely holistic perspective, with detailed insights into the entire value chain – from key global and South African market trends, innovation and technology, drivers, and challenges, as well as manufacturer, distributor, retailer, and pricing analysis.
Some key questions the report will help you to answer:
- What are the key market dynamics of the global and South African Carbonated Soft Drinks industry?
- What are the latest global and South African Carbonated Soft Drinks industry trends, innovation and technology, drivers, and challenges?
- What are the market value and volume trends in the South African Carbonated Soft Drinks industry (2015-2020) and forecasts (2021-2025), including the impact of COVID-19?
- Who are the key manufacturers, distributors, and retail players in the South African Carbonated Soft Drinks industry?
- What are the prices of popular Carbonated Soft Drink brands and products across South African retail outlets?
Please note that the 125-page report is available for purchase for R35,000.00 (excluding VAT). Alternatively, individual sections can be purchased for R15,000.00 (excluding VAT). For additional information, contact us at firstname.lastname@example.org or directly on (021) 045-0202 or (010) 140- 5756.
For a full brochure please go to: SA Carbonated Soft Drinks Industry Landscape Brochure 2021
About Insight Survey:
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