India Soft Drinks Market Overview
Base Year: 2023
Historical Years: 2018-2023
Forecast Years: 2024-2032
Market Growth Rate: 4.80% (2024-2032)
The growing health and wellness trends are positively influencing the soft drinks market in India. According to the latest report by IMARC Group, India soft drinks market size reached US$ 19.7 Billion in 2023. Looking forward, the market to reach US$ 30.1 Billion by 2032, exhibiting a growth rate (CAGR) of 4.80% during 2024-2032.
India Soft Drinks Industry Trends and Drivers:
The India soft drinks market is experiencing the dynamic growth, driven by a confluence of factors that reflect changing consumer preferences, economic development, and evolving lifestyles. One of the primary drivers is the burgeoning middle class, which is experiencing a significant increase in disposable incomes over recent years. As economic conditions are improving, people have more spending power, leading to greater expenditure on premium and branded soft drinks. This economic upliftment is also fostering a culture of convenience and indulgence, catalyzing the demand for ready-to-drink (RTD) beverages. Another critical factor is the rapid urbanization of India. Urban areas are expanding, and with them, the lifestyle of city dwellers is changing. Urban people tend to have a higher inclination towards convenience foods and beverages, including soft drinks. The proliferation of modern retail formats, such as supermarkets and convenience stores, is making soft drinks more accessible. This trend is further supported by the rise in e-commerce platforms, which provide an easy and convenient way for consumers to purchase their favorite beverages.
As awareness about health and wellness is growing, consumers are seeking out healthier alternatives to traditional soft drinks. This shift is leading to a rise in demand for low-calorie, sugar-free, and natural soft drink options. Companies are responding by introducing products with reduced sugar content, natural sweeteners, and added nutritional benefits, catering to the health-conscious segment in the country. Seasonal variations play a significant role in driving sales, particularly in a country like India, where climate conditions can be extreme. The scorching summer months create a rise in demand for refreshing beverages. Soft drink companies often leverage this seasonal demand by launching limited-edition flavors or promotional campaigns, thereby increasing sales during peak seasons. The festive seasons also contribute to the market growth, as consumers indulge in celebratory purchases and festivities often include soft drinks as a staple in India.
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India Soft Drinks Industry Segmentation:
The report has segmented the market into the following categories:
Product Insights:
- Carbonated
- Non-Carbonated
Distribution Channel Insights:
- Hypermarkets and Supermarkets
- Convenience Store
- Online
- Others
Regional Insights:
- North India
- West and Central India
- South India
- East and Northeast India
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
Key highlights of the Report:
- Market Performance (2018-2023)
- Market Outlook (2024-2032)
- COVID-19 Impact on the Market
- Porter’s Five Forces Analysis
- Strategic Recommendations
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
About Us:
IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.
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Author: Kishan Kumar
I am market analyst and I post article about market reports based on thorough research and analysis that drives current market growth and trends.
