Soft Drinks - Sri Lanka | Statista Market Forecast

Revenue, at home (e.g., revenue generated in supermarkets and convenience stores) in the Soft Drinks market amounts to US$1.19bn in 2024.
Revenue, out-of-home (e.g., revenue generated in restaurants and bars) amounts to US$233.50m in 2024.
Revenue, combined amounts to US$1.42bn in 2024.
The revenue, at home is expected to grow annually by 12.86% (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$54.20 are generated in 2024.
In the Soft Drinks market, volume, at home is expected to amount to 1.11bn L by 2024.
Volume, out-of-home is expected to amount to 74.21m L in 2024.
Volume, combined is expected to amount to 1.18bn L in 2024.
The Soft Drinks market is expected to show a volume growth, at home of 1.1% in 2025.0.
The average volume per person, at home in the Soft Drinks market is expected to amount to 50.44L 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 Sri Lanka has been experiencing significant growth in recent years. Customer preferences have shifted towards healthier beverage options, leading to an increase in demand for low-sugar and natural drinks. Additionally, the growing urban population and rising disposable incomes have contributed to the expansion of the market.

Customer preferences: In Sri Lanka, customers are increasingly seeking healthier alternatives to sugary soft drinks. This trend is driven by a growing awareness of the negative health effects of excessive sugar consumption. As a result, there has been a rise in demand for low-sugar and natural soft drinks, such as fruit juices and herbal beverages. Consumers are also gravitating towards products that offer functional benefits, such as energy drinks and sports drinks.

Trends in the market: One of the key trends in the Soft Drinks market in Sri Lanka is the growing popularity of bottled water. As consumers become more health-conscious, they are opting for bottled water as a healthier alternative to sugary drinks. This trend is further fueled by concerns over the quality of tap water in certain areas of the country. As a result, the bottled water segment has witnessed significant growth in recent years. Another trend in the market is the increasing demand for ready-to-drink tea and coffee. Sri Lanka is known for its tea production, and consumers in the country have a strong preference for tea. However, there has been a shift towards convenience and on-the-go consumption, leading to a rise in the consumption of ready-to-drink tea and coffee. This trend is particularly prominent among younger consumers who value convenience and are seeking new and innovative flavors.

Local special circumstances: Sri Lanka has a tropical climate, which makes soft drinks a popular choice among consumers, especially during the hot and humid summer months. The availability of a wide range of local fruits and herbs also contributes to the popularity of soft drinks in the country. Sri Lankan consumers enjoy traditional drinks made from ingredients such as coconut water, king coconut, and various tropical fruits. These local special circumstances have created a unique market for soft drinks in Sri Lanka.

Underlying macroeconomic factors: The Soft Drinks market in Sri Lanka is also influenced by underlying macroeconomic factors. The country has experienced steady economic growth in recent years, which has led to an increase in disposable incomes. This has resulted in higher consumer spending on non-essential items, including soft drinks. Additionally, the growing urban population and changing lifestyles have contributed to the expansion of the market. As urbanization continues to accelerate, the demand for convenience and on-the-go beverages is expected to increase further.

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.