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Key regions: United States, Singapore, Philippines, India, United Kingdom
The Soft Drinks market in Eastern Asia has been experiencing significant growth in recent years. Customer preferences in the region have been shifting towards healthier beverage options, such as low-sugar or sugar-free drinks, as consumers become more health-conscious. This trend is driven by a growing awareness of the negative health effects of excessive sugar consumption and a desire for products that align with a healthier lifestyle. Additionally, there is an increasing demand for natural and organic ingredients in soft drinks, as consumers seek products that are perceived to be more wholesome and environmentally friendly. Trends in the market indicate a strong demand for ready-to-drink tea and coffee beverages, which are popular choices among Eastern Asian consumers. These beverages offer a convenient and refreshing option for on-the-go consumption, and are often preferred over carbonated soft drinks. This trend is particularly evident in countries such as China, Japan, and South Korea, where tea and coffee cultures have long histories and are deeply ingrained in the local culture. Local special circumstances in Eastern Asia also contribute to the growth of the Soft Drinks market. For example, the region has a large and growing population, which provides a significant consumer base for soft drink companies. Additionally, rapid urbanization and increasing disposable incomes have led to a rise in consumer spending on non-essential goods, including soft drinks. This has created a favorable market environment for soft drink companies to expand their operations and increase sales in the region. Underlying macroeconomic factors further support the growth of the Soft Drinks market in Eastern Asia. The region has experienced strong economic growth in recent years, leading to an increase in consumer purchasing power. This has allowed consumers to spend more on discretionary items, including soft drinks. Additionally, the rise of e-commerce and online shopping platforms has made it easier for consumers to access and purchase a wide variety of soft drink products, further driving market growth. In conclusion, the Soft Drinks market in Eastern Asia is experiencing growth due to shifting customer preferences towards healthier options, a strong demand for ready-to-drink tea and coffee beverages, local special circumstances such as a large and growing population and increasing disposable incomes, and underlying macroeconomic factors such as strong economic growth and the rise of e-commerce. These factors combined create a favorable market environment for soft drink companies to expand their operations and increase sales in the region.
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.
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)