Soft Drinks - Southern Asia

The Soft Drinks market in Southern Asia has been experiencing significant growth in recent years.

Customer preferences: One of the key factors driving the growth of the Soft Drinks market in Southern Asia is the changing customer preferences. Consumers in this region are increasingly seeking healthier beverage options, which has led to a rise in demand for low-sugar and natural drinks. Additionally, there is a growing preference for functional beverages that offer added health benefits, such as energy-boosting or immune-boosting properties.

Trends in the market: One of the major trends in the Soft Drinks market in Southern Asia is the increasing popularity of ready-to-drink (RTD) beverages. This trend can be attributed to the convenience factor, as RTD beverages are easily accessible and can be consumed on-the-go. Furthermore, the rising urbanization and busy lifestyles in this region have also contributed to the growing demand for RTD beverages. Another trend in the Soft Drinks market in Southern Asia is the emergence of local and regional brands. These brands often cater to the specific tastes and preferences of the local consumers, offering unique flavors and ingredients that resonate with the local culture. This trend has led to increased competition in the market, as these local brands are able to capture a significant market share by appealing to the local consumers.

Local special circumstances: One of the unique aspects of the Soft Drinks market in Southern Asia is the diverse cultural and culinary traditions in this region. Each country in Southern Asia has its own distinct flavors and ingredients that are incorporated into the local soft drinks. For example, in India, traditional beverages like lassi and nimbu pani are popular, while in Thailand, coconut water is a common choice. This diversity in flavors and ingredients adds to the appeal of the Soft Drinks market in Southern Asia and attracts consumers who are looking for new and exciting taste experiences.

Underlying macroeconomic factors: The Soft Drinks market in Southern Asia is also influenced by several macroeconomic factors. One such factor is the rapid economic growth in this region, which has led to an increase in disposable incomes. As consumers have more purchasing power, they are able to spend more on beverages, including soft drinks. Additionally, the growing middle class in Southern Asia has also contributed to the growth of the Soft Drinks market, as this demographic segment is increasingly seeking convenient and affordable beverage options. In conclusion, the Soft Drinks market in Southern Asia is experiencing growth due to changing customer preferences, including a demand for healthier and functional beverages. The market is also influenced by trends such as the popularity of ready-to-drink beverages and the emergence of local and regional brands. The diverse cultural and culinary traditions in this region add to the appeal of the Soft Drinks market, attracting consumers who are looking for unique taste experiences. Furthermore, macroeconomic factors such as rapid economic growth and a growing middle class have also contributed to the growth of the market.

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.