Still Drinks Market Worldwide: Latest Industry Trades, Supply, Demand, Future prospects by 2026
Still drinks are beverages and drinks without carbonation. They lack fizziness or alcohol. They also include ready to drink beverages that contain artificial non-carbonated flavors and colorings. It comprises juice drinks that have lower fruit content and sports drinks which are hypotonic or isotonic in nature. Still drinks also include bottled water available in different flavors and functional beverages that are enriched with vital vitamins and minerals.
Increasing awareness regarding health issues such as obesity, due to the consumption of carbonated drinks especially amongst teenagers and young adults is a major driver for growth of the still drinks market. According to the National Health and Nutrition Examination Survey (NHANES) conducted in 2014, two out of three Americans are considered to be overweight or obese. Market players are adopting different strategies to diversify their product portfolio in order to focus on minimizing the negative effects on the environment via recycling and use of biodegradable materials. For instance, JUST Water, a manufacturer of spring water products plans to introduce a line of organic flavor-infused water in the first quarter of 2018 with biodegradable packaging.
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Among the product type, still juice segment was the fastest growing segment in 2016 and is expected exhibit the same trend over the forecast period. Increasing demand for still juice, owing to its refreshing taste, nutrient content, and benefits such as instant energy are the major factor fueling growth of the market.
Still Drinks Market Outlook:
North America is the most dominant region in the still drinks market, followed by Europe. Increasing health awareness in North America and Europe regarding consumption of aerated drinks has led to patrons preferring non-alcoholic and non-carbonated beverages, which in turn is expected to surge the demand for still drinks market in these regions. There is a huge demand for bottled flavor water in North America especially among the younger consumer group (aged 18-34 years old). According to the International Bottled Water Association, the U.S. bottled water market is estimated around US$ 16 billion in 2016, with an increase of 7.4% than the previous year.
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Asia Pacific region is the fastest growing market where the major demand for still drinks in the region is from the emerging economies such as India and China. According to Coherent Market Insights, the energy drinks and functional drinks segment in India is expected to grow at a CAGR of over 18% and 15% over the next five years. Furthermore, the availability and consumption of conventional still drinks such as tea especially in China and India has resulted in an increasing demand for still drinks in the Asia Pacific region. For instance, in 2016, Coco-Cola launched its Fuze Tea a ready to drink beverage in South Asia Pacific in order to meet the demand for packaged conventional drinks such as tea and coffee.
Major players operating in the global still drinks market include Danone, Nestle SA, PepsiCo, The Coca-Cola Company, Dabur India Limited, Unilever, Bisleri International Private Limited, and Del Monte Foods, Inc.
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