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Key regions: United States, Singapore, Philippines, India, United Kingdom
The Soft Drinks market in Southern Africa has been experiencing significant growth in recent years, driven by changing customer preferences, emerging trends, and local special circumstances. Customer preferences in the region have shifted towards healthier beverage options, with a growing demand for natural and low-sugar drinks. Consumers are increasingly conscious about their health and are seeking out products that align with their wellness goals. This has led to a rise in the consumption of bottled water, fruit juices, and functional beverages that offer added health benefits. Trends in the market also reflect the growing popularity of non-alcoholic beverages in Southern Africa. Soft drinks, such as carbonated beverages and energy drinks, have seen a surge in demand as consumers look for refreshing and energizing options. Additionally, there has been a rise in the consumption of ready-to-drink (RTD) beverages, which provide convenience and portability for on-the-go consumption. Local special circumstances, such as the hot and arid climate in certain parts of Southern Africa, have contributed to the growth of the Soft Drinks market. The need for hydration and refreshment in these regions has driven the consumption of soft drinks, particularly during the summer months. Additionally, the growing urbanization and increasing disposable incomes in the region have fueled the demand for soft drinks as a popular choice for social gatherings and celebrations. Underlying macroeconomic factors have also played a role in the development of the Soft Drinks market in Southern Africa. Economic growth in the region has led to an expansion of the middle class, who have more disposable income to spend on discretionary items like soft drinks. Furthermore, the rise of e-commerce and online platforms has made it easier for consumers to access and purchase a wide variety of soft drinks, contributing to market growth. In conclusion, the Soft Drinks market in Southern Africa is experiencing growth due to changing customer preferences towards healthier options, emerging trends in non-alcoholic beverages, local special circumstances such as climate and lifestyle, and underlying macroeconomic factors. As the market continues to evolve, it is expected that the demand for soft drinks will remain strong, driven by the desire for hydration, convenience, and social enjoyment.
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)