Soft Drinks - Belize | Statista Market Forecast

Revenue, at home (e.g., revenue generated in supermarkets and convenience stores) in the Soft Drinks market amounts to US$24.30m in 2024.
Revenue, out-of-home (e.g., revenue generated in restaurants and bars) amounts to US$4.54m in 2024.
Revenue, combined amounts to US$28.85m in 2024.
The revenue, at home is expected to grow annually by 0.62% (CAGR 2024-2029).
In global comparison, most revenue, at home is generated United States (US$114bn in 2024).
In relation to total population figures, the average revenue per capita, at home of US$58.33 are generated in 2024.
In the Soft Drinks market, volume, at home is expected to amount to 14.52m L by 2024.
Volume, out-of-home is expected to amount to 921.80k L in 2024.
Volume, combined is expected to amount to 15.44m L in 2024.
The Soft Drinks market is expected to show a volume growth, at home of -0.3% in 2025.0.
The average volume per person, at home in the Soft Drinks market is expected to amount to 34.86L in 2024.

Definition:

The market Soft Drinks covers varieties of prepared water-based beverages to which flavoring additives (sugar or sweeteners, aromas etc.) have been added. These include cola drinks and lemonades, but also energy drinks, fruit nectars and soft drinks with fruit juice content, as well as value-added or flavored water. Coffee and tea-based drinks are not included.

Structure:

The Soft Drinks market is structured into 3 markets:

Carbonated Soft Drinks denote all artificially sweetened and carbonated Non-Alcoholic Drinks.
Non-Carbonated Soft Drinks contain non-alcoholic liquid refreshment beverages that are not artificially carbonated.
Energy & Sports Drinks include energy drinks and sports drinks, providing functional benefits such as mental and physical stimulation.

Additional information:

The market comprises revenue and average revenue per capita, volume and average volume per capita, price per liter, as well as sales channels. Per capita figures refer to a country’s or region’s whole population.

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.

Key players include The Coca-Cola Company, PepsiCo, Suntory, Red Bull, and Keurig Dr Pepper.

Carbonated Soft Drinks (Cola, Lemonade etc.)
Non-Carbonated Soft Drinks (nectars, value-added or flavoured water etc.)
Energy & Sports Drinks

Hot Drinks
Powdered drink mixes and syrups (e.g. Post-Mix Drinks)

The Soft Drinks market in Belize has experienced significant growth in recent years, driven by changing customer preferences and local special circumstances.

Customer preferences: In Belize, there is a growing demand for healthier beverage options, including low-sugar and natural drinks. Consumers are becoming more health-conscious and are actively seeking alternatives to sugary carbonated drinks. This shift in customer preferences has led to an increased demand for bottled water, fruit juices, and healthier soft drink options.

Trends in the market: One of the key trends in the Soft Drinks market in Belize is the rise of functional beverages. Functional beverages are drinks that offer additional health benefits beyond basic hydration. These include energy drinks, sports drinks, and drinks fortified with vitamins and minerals. The popularity of functional beverages can be attributed to the increasing focus on health and wellness among consumers. Another trend in the market is the growing popularity of local and artisanal soft drinks. Belize has a rich cultural heritage, and consumers are increasingly interested in supporting local producers and consuming products that reflect their cultural identity. This has created opportunities for small-scale soft drink producers to enter the market and offer unique and authentic beverage options.

Local special circumstances: One of the unique factors influencing the Soft Drinks market in Belize is the country's climate. With its tropical climate, Belize experiences high temperatures year-round, making soft drinks a popular choice for hydration and refreshment. The hot weather creates a constant demand for cold beverages, driving the sales of soft drinks in the country. Additionally, Belize is a popular tourist destination, attracting visitors from around the world. This has contributed to the growth of the Soft Drinks market, as tourists often seek out local and exotic beverages during their stay. Soft drink manufacturers and distributors have capitalized on this demand by offering a wide range of flavors and options to cater to the diverse preferences of tourists.

Underlying macroeconomic factors: The economic growth and stability in Belize have also played a role in the development of the Soft Drinks market. As the country's economy has improved, consumers have more disposable income to spend on non-essential items, including soft drinks. This has led to an increase in demand for soft drinks and the expansion of the market. Furthermore, the government of Belize has implemented policies to encourage investment and support local businesses. This has created a favorable business environment for soft drink manufacturers and has attracted foreign investors to the market. The combination of economic growth and supportive government policies has contributed to the overall development and expansion of the Soft Drinks market in Belize.

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.

This report presents a comprehensive analysis and additional information on the Consumer market, in a PDF format.