Saudi Arabia Soft Drinks Market Share and Size 2023, Growth Drivers, Emerging Trends, Competitive Analysis and Forecast till 2022-2032: SPER Market Research
According to SPER Market Research, A soft drink is a beverage that usually has carbonated water, a sweetener, and a flavor, either artificial or natural. A sugar substitute, fruit juice, high-fructose corn syrup, sugar, or a combination of these may all be used as sweeteners. Caffeine, colorings, preservatives, and/or other substances are all possible additions to soft drinks. Since Saudi Arabia is an Islamic country with a conservative culture that encourages strict adherence to Islamic law, alcohol is not permitted there. As a result, many producers of non-alcoholic beverages saw an opportunity to create a variety of non-alcoholic beverage varieties, and over the years, they have heavily pushed them.
Saudi Arabia Soft Drinks Market Overview:
- Forecast CAGR (2022-2032): XX%
- Forecast Market Size (2032): XX billion
The demand for soft drinks and other non-alcoholic beverages has increased significantly in the country as a result of the absence of alcoholic beverage competition, in contrast to what is witnessed in other nations. The market for soft drinks has increased significantly in the country, however, due to the country’s hot and humid climate as well as the growing need among citizens for beverages that are low in calories, support excellent health, and fit with consumers’ active lifestyles. The nation’s expanding population as well as the rise in the younger generation’s population are two additional variables that are projected to fuel the growth of the soft drink market in Saudi Arabia.
The market is thriving due to a number of factors, including the rising demand for different types of beverages from manufacturers as a result of the growing popularity of healthier soft drink alternatives like kombucha and other functional teas, the expanding social and economic transformation in Saudi Arabia, and the opportunities brought about by the availability of different flexible packaging options, such as bags or pouches. In Saudi Arabia, the selling of energy drinks from specific establishments is partially prohibited and energy drink advertising is prohibited. Despite this, the Kingdom’s booming demand for soft drinks is expected to continue, supported by the lack of alcoholic beverage options, a warm environment, and a sizable youth market that is drawn to western lifestyle items.
The soft drink industry has suffered significantly from the global COVID-19 pandemic, just like its competitors in the food and beverage industries. Bottling and distribution continue to be largely active despite some brief closures in select locations. Safety of employees and customers is a top priority in the short term. There is a significant demand for standard soft drinks and other beverage options as consumers get ready to isolate themselves at home. While customers store necessities in anticipation of a protracted period of self-isolation (or quarantine) at home, packaged water, coffee, dairy, and juice have witnessed high increases in supermarket channels. Mandatory closures of restaurants, bars, taverns, and cafés as well as a decline in traffic at forecourt/travel points of sale will have a substantial impact on industry volumes. On-trade soft drinks are responsible for around half of all soft drink consumption and a far bigger share of industry profits. Preparing for new consumer purchasing patterns and perspectives on health and wellbeing is part of this. Among these changes are expected to be a considerable acceleration in the adoption of supermarket e-commerce for both food and beverages, an increase in at-home daily beverage occasions, a stronger focus on immune system-supporting nutrients, and others.
Saudi Arabia Soft Drinks Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as; Al Aujan Holding Company, Al Jomaih Bottling Plants Co., Arla Foods Ltd., Coca-Cola Company, Gulf Union Food Company, PepsiCo, Inc., Saudi Petrochemical Company, Tania Factory for Bottled Drinking Water, Flavored Juices and Plastic Containers, The National Company for Glass Industries.
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Saudi Arabia Soft Drinks Market Segmentation:
By Type: Based on the Type, Saudi Arabia Soft Drinks Market is segmented as; Bottled Water, CSD, Functional Drinks, Juices, RTD Tea and Coffee.
By Distribution Channel: Based on the Distribution Channel, Saudi Arabia Soft Drinks Market is segmented as; Convenience Stores, Hypermarkets and Supermarkets, On-trade, Others.
By Region: This report also provides the data for key regional segments of Eastern Region, Northern and Capital Region, Western Region, Others.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.
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