Major companies in the soft drinks and ice market include Nestle; Pepsi; Coca-Cola; Anheuser-Busch InBev and Danone. The global soft drink and ice market is expected to grow from $238. 18 billion in 2020 to $266.
New York, Feb. 04, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Soft Drink And Ice Global Market Report 2021: COVID 19 Impact and Recovery to 2030" - https://www.reportlinker.com/p06018914/?utm_source=GNW
92 billion in 2021 at a compound annual growth rate (CAGR) of 12.1%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $338.52 billion in 2025 at a CAGR of 6%.
The soft drinks and ice market consists of sales of soft drinks, ice, and purified and bottled water by entities (organizations, sole traders and partnerships) that produce soft drinks, ice, and purified and bottled water. The companies in the soft drink and ice industry process raw materials into soft drinks, ice, and purified and bottled water, package and distribute them through various distribution channels to both individual customers and commercial establishments. The soft drinks and ice market is segmented into soft drinks and ice.
Asia Pacific was the largest region in the global soft drink and ice market, accounting for 35% of the market in 2020. Western Europe was the second largest region accounting for 25% of the global soft drink and ice market. Africa was the smallest region in the global soft drink and ice market.
To establish brand image and differentiation, bottled water manufacturers are introducing novel packaging. Novelty packaging may include re-sealable and recyclable packaging material, transparent sophisticated bottles, Inks and coatings applied on cans to enhance shelf appeal. For instance, British entrepreneurs launched CanO, a re-sealable and recyclable aluminum water can aim at controlling pollution from plastic water bottles. Also, Paper Water Bottle Company launched the Paper Water Bottle Eco-1, a compostable water bottle made of molded fiber.
The outbreak of Coronavirus disease (COVID-19) has acted as a massive restraint on the soft drink and ice manufacturing market in 2020 as supply chains were disrupted due to trade restrictions and consumption declined due to lockdowns imposed by governments globally. COVID 19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China and spread globally including Western Europe, North America and Asia. Food and beverage manufacturers depend on supply of raw materials from domestic and international suppliers. As many governments restricted the movement of goods across countries and locally, manufacturers had to halt production due to lack of raw materials. Also, restrictions on trade of non-essential goods and fear of contamination through manufacturing facilities contributed to the decline. The outbreak is expected to continue to have a negative impact on businesses throughout 2020 and into 2021. However, it is expected that the soft drink and ice manufacturing market will recover from the shock across the forecast period as it is a ’black swan’ event and not related to ongoing or fundamental weaknesses in the market or the global economy.
World population is growing and is expected to reach 10 billion by 2050. Increase in population creates more demand for food. According to the American Society of Nutrition, the consumption of sugar-sweetened beverages was highest in Mexico. Crop production, farming activities and trade volumes will have to increase in order to meet increased population. Therefore, companies in this market are expected to benefit from rising demand for food and beverage products due to rising population, during the forecast period.
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