Soft Drinks - Asia

The Soft Drinks market in Asia has witnessed significant growth in recent years, driven by changing customer preferences, emerging trends, and local special circumstances. Customer preferences in the Soft Drinks market in Asia have shifted towards healthier options, with consumers becoming more conscious about their health and wellness. This has led to an increased demand for low-sugar and natural ingredient-based soft drinks. Additionally, there is a growing preference for functional beverages that offer specific health benefits such as energy-boosting or immune-boosting properties. This trend is driven by a desire for healthier alternatives to traditional carbonated soft drinks. Trends in the Soft Drinks market in Asia vary across different countries in the region. In China, for example, there is a rising demand for premium and imported soft drinks among the middle class population. This trend is driven by increasing disposable incomes and a desire for higher quality products. In India, on the other hand, there is a growing popularity of regional and traditional soft drinks made from local ingredients. This trend is driven by a sense of cultural pride and a preference for authentic flavors. Local special circumstances also play a role in shaping the Soft Drinks market in Asia. For example, in Japan, there is a strong culture of vending machines that dispense a wide variety of soft drinks. This has led to a high level of convenience and accessibility for consumers, driving the growth of the market. In Southeast Asian countries like Thailand and Vietnam, street food culture is prominent, and soft drinks are often consumed alongside local street food. This has created a demand for refreshing and carbonated soft drinks that complement the spicy and flavorful cuisine. Underlying macroeconomic factors also contribute to the development of the Soft Drinks market in Asia. Rapid urbanization, increasing disposable incomes, and a growing middle class population have all led to a higher demand for soft drinks in the region. Additionally, the rise of e-commerce and online food delivery platforms has made it easier for consumers to access a wide range of soft drinks and has contributed to the growth of the market. In conclusion, the Soft Drinks market in Asia is experiencing growth due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. As consumers become more health-conscious, there is a growing demand for healthier and functional soft drinks. Different countries in the region have their own unique trends and preferences, driven by cultural factors and local circumstances. The overall market growth is supported by rapid urbanization, increasing disposable incomes, and the rise of e-commerce.

Data coverage:

The data encompasses B2C enterprises. The at-home market covers retail sales via super- and hypermarkets, eCommerce, convenience stores, or similar sales channels. The out-of-home data encompasses all sales to hotels, restaurants, catering, cafés, bars, and similar hospitality service establishments. Combined numbers encompass both the at-home market and the out-of-home market. Both the at-home and the out-of-home market are valued at retail selling prices including all sales and consumption taxes.

Modeling approach:

Market sizes are determined through a Top-Down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending (e.g. consumer spending on Non-Alcoholic Drinks, consumer spending at Hotels, Restaurants etc.), and price level index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Non-Alcoholic Drinks market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.