Research Nester has released a reporttitled “Saudi Arabia Soft Drinks Market – Demand Analysis & Opportunity Outlook 2027” which also includes some of the prominent market analyzing parameters such as industry growth drivers, restraints, supply and demand risk, market attractiveness, year-on-year (Y-O-Y) growth comparisons, market share comparisons, BPS analysis, SWOT analysis and Porter’s five force model.
The Global Status Report on Alcohol and Health 2018 a statistical report by the World Health Organization, stated that alcohol consumption per capita aged 15+ recorded to almost zeroin Saudi Arabiaduring the period 1961-2016. Additionally, the nation also recorded 0.2 litres of pure alcoholper capita (15+) consumptionin the year 2016.
The statistics portray the effects of ban on consumption, import, brewing and sale of alcoholic beverages.Saudi Arabia being an Islamic nation has a conservative nature that promotes strict measures to follow Islamic laws which has led to the ban on alcoholic beverages in the nation. Following this, numerous non-alcoholic beverage manufacturers have taken this as an opportunity to produce different type of non-alcoholic beverages and have promoted significantly over the years. Moreover, due to lack of competition from alcoholic beverages, unlike what is seen in other countries, the demand for soft drinks and other non-alcoholic beverages have grown massively in the nation. On the other hand, the nation being a hot and humid climate, along with the increasing need amongst individuals in the nation for beverages which are low in calories, promotes good health and align with the active lifestyle of consumers, have raised the demand for soft drinks massively in the nation. Additionally, growing population in the nation and increase in the younger generation population in the nation are some of the factors anticipated to drive the growth of the Saudi Arabia soft drinks market.
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The Saudi Arabia soft drinks market is anticipated to achieve a CAGR of 8.56% over the forecast period 2020-2027. The market was valued at USD 4845.3 million in the year 2018 and is further anticipated to reach USD 9984.8 million in the year 2027. The market is thriving on the factors such as growing popularity of healthier variants of soft drinks, such as kombucha and other types of functional teas which is raising the need amongst the manufacturers to produce different types of beverages, along with the growing social and economic transformation in Saudi Arabia and the opportunities generated by the availability of various flexible packaging alternatives including bags or pouchesare some of the factors believed to promote towards the growth of the Saudi Arabia soft drinks market. Additionally, the market is anticipated to gain an incremental $ opportunity of USD 835.6 million in the year 2027 on the back of the increasing number of quick service restaurants in the nation in tandem with the gradually changing dining-out culture.
However, concerns for the impact of the COVID-19 pandemic and the increase in excise taxes in the nation for sweetened beverages are some of the factors estimated to act as a barrier to the growth of theSaudi Arabia soft drinks market.
This report also studies existing competitive scenario of some of the key players of theSaudi Arabia soft drinksmarket, which includes profiling ofThe Coca-Cola Company (NYSE: KO) and PepsiCo, Inc. (NASDAQ: PEP). Additionally, the market is highly fragmented and numerous local players are serving soft drinks indifferent packaging forms to meet the customer demand.
The profiling enfolds key information of the companies which comprises of business overview, products and services, key financials and recent news and developments. Conclusively, the reporttitled “Saudi Arabia Soft Drinks Market – Demand Analysis & Opportunity Outlook 2027”, analyses the overallSaudi Arabia soft drinksindustry to help new entrants to understand the details of the market. In addition to that, this report also guides existing players looking for expansion and major investors looking for investment in theSaudi Arabia soft drinksmarket in the near future.
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