Soft Drinks - BRICS

The Soft Drinks market in BRICS is experiencing significant growth and development due to various factors.

Customer preferences: Customers in BRICS countries have shown a strong preference for soft drinks, making it a lucrative market for beverage companies. The popularity of soft drinks can be attributed to their refreshing taste, wide range of flavors, and convenience. In addition, the younger population in these countries has a higher disposable income and is more likely to spend on beverages. As a result, soft drink companies have been able to capitalize on this demand and introduce new and innovative products to cater to different consumer preferences.

Trends in the market: The Soft Drinks market in Brazil is witnessing a shift towards healthier options, with consumers increasingly opting for low-sugar and natural beverages. This trend can be attributed to a growing awareness of the health risks associated with excessive sugar consumption. As a result, companies are introducing new products that are low in sugar and made with natural ingredients to cater to this demand. In Russia, the Soft Drinks market is experiencing a growing demand for functional beverages, such as energy drinks and sports drinks. This trend can be attributed to the increasing urbanization and hectic lifestyles of consumers, who are seeking beverages that provide them with energy and hydration. Companies are capitalizing on this trend by introducing new products that cater to the specific needs of consumers, such as energy drinks with added vitamins and minerals. In India, the Soft Drinks market is witnessing a shift towards non-carbonated beverages, such as juices and bottled water. This can be attributed to the increasing health consciousness among consumers, who are opting for beverages that are perceived as healthier. Companies are responding to this trend by introducing new products in the non-carbonated category and promoting the health benefits of their beverages.

Local special circumstances: In China, the Soft Drinks market is heavily influenced by cultural factors. Tea is a popular beverage in China, and companies have been able to capitalize on this by introducing tea-based soft drinks. These beverages combine the traditional flavors of tea with the convenience and appeal of soft drinks, catering to the preferences of Chinese consumers.

Underlying macroeconomic factors: The Soft Drinks market in BRICS countries is also influenced by macroeconomic factors. Economic growth in these countries has led to an increase in disposable income, allowing consumers to spend more on beverages. In addition, urbanization and changing lifestyles have led to a higher demand for convenience products, such as soft drinks. These factors have created a favorable environment for the growth of the Soft Drinks market in BRICS countries.

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.