latest Carbonated Soft Drinks Industry Landscape Report 2020
carefully unfolds the carbonated soft drinks landscape in South Africa based on the latest information and research. It describes the relevant global and local market trends, drivers and restraints and presents an objective insight into the South African carbonated soft drinks industry environment, market dynamics and its future.
Globally, the carbonated soft drinks market size is estimated to be $402.3bn in 2020, as illustrated in the graph below. The market is predicted to grow at a compound annual growth rate (CAGR) of 3.4% between 2020 and 2023. Interestingly, in terms of global revenue per capita, it is expected that $54 per person will be generated in 2020, while per capita consumption is expected to reach 28.1 litres.
Source: Statista; Graphics by Insight Survey
The South African carbonated soft drinks market increased at compound annual growth rate (CAGR) of 2.9% between 2014 and 2019 and is forecast to grow at a slightly lower CAGR of 1.8% over the 2020 to 2024 forecast period.
However, the market continues to face significant challenges that include the South African economy, sugar tax and consumers who are becoming increasingly health-conscious.
Insight Survey's latest SA Carbonated Soft Drinks Industry Landscape Report 2019 carefully unfolds the global and local carbonated soft drinks markets based on the latest information and research...
Insight Survey 6 Feb 2019
In response to these challenges, manufacturers have developed a variety of innovative, exotic flavours that are trying to appeal to a younger, millennial and female target market in order to drive industry volumes.
These include low-sugar ingredients, such as cinnamon and ginger. As an example, Pura has launched an alternative carbonated soft drinks product range with exotic flavours such as juniper, cranberry, cucumber and lime and Seville orange, amongst others.
In line with the global trend, the popularity of craft tonic water has grown significantly, primarily driven by the booming South African craft gin market. This has become increasingly popular amongst consumers in pubs, clubs and at home. It appears that gin is not a passing fad, and is still trending in South Africa, with players introducing local gin ranges infused with fynbos botanicals.
Fitch & Leedes have launched a variety of flavoured tonic water variants such as Blue Tonic, Grapefruit Tonic and Pink Tonic. The combination of these flavoured tonic waters and gin has created a new trend where brands are emphasising cocktail recipes, pairing suggestions and mixology ideas for consumers. Fever-Tree has also recently launched its premium mixer range into the South African market.
Other manufacturers, for example, Barker and Quin, currently offer exotic flavours as part of its existing Finest Indian Tonic Water product range, with ingredients that include natural quinine, citrus fruit extracts and Indian spices such as cardamom and star anise.
Given the capricious nature of consumers (especially the millennial segment), it is becoming crucial for key market players to stay abreast of the latest developments within the industry to ensure they meet the fluid needs of consumers.
The South African Carbonated Soft Drinks Industry Landscape Report 2020
(119 pages) provides a dynamic synthesis of industry research, examining the local and global carbonated soft drinks industry from a uniquely holistic perspective, with detailed insights into the entire value chain – from global and local trends to manufacturing, retailing and pricing. Some key questions the report will help you to answer:
Please note that the 119-page report is available for purchase for R35,000 (excluding VAT). Alternatively, individual sections can be purchased for R15,000 (excluding VAT). For additional information simply contact us at az.oc.yevrusthgisni@ofni or directly on (0)21 045-0202.
- What are the current market dynamics of the global carbonated soft drinks industry?
- What are the key global South African carbonated soft drinks industry trends, drivers and challenges?
- What are the value and volume trends in the South African carbonated soft drinks market (2014-2019) and forecasts (2020-2024)?
- Who are the key manufacturing and retail players in the South African carbonated soft drinks industry?
- What are the prices of popular South African carbonated soft drinks at retail outlets and convenience stores?
For a full brochure please go to: South African Carbonated Soft Drinks Industry Landscape Report 2020
. About Insight Survey:
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