Carbonates in Asia Pacific

Delivery

This report comes in PPT.

Key Findings

Asia Pacific continues to be the third largest carbonates market in the world

The region comprises one fifth of global carbonates by volume, at 38 billion litres in 2021. Overall, retail value sales in the region amounted to USD31 billion in 2021.

China, India, Japan, the Philippines and Thailand continue to be the key markets for carbonates in Asia Pacific

The five countries make up more than 70% of total Asia Pacific volume sales. China’s off-trade sales benefit from the shift from on-trade consumption in 2020 and continue to grow in 2021, while the other four countries see some form of decline in sales in 2020 due to home seclusion as a result of COVID-19.

Sugar reduction legislation and COVID-19 incentivise brands to reformulate and launch zero sugar carbonates variants

Tax and non-tax government actions compel brands to reformulate their carbonates products towards less to zero sugar content while maintaining good taste. These actions also help educate the public to the importance of eating healthily. A healthy eating mindset is further reinforced by the global pandemic, reshaping consumers’ demand towards these low and zero sugar carbonates as a healthy indulgence.

PET bottles continue to be the essential packaging format

PET bottles remain convenient for distribution and practical for food delivery during the lockdown period. However, changes within the industry, such as lowering barriers to recycling, could help brands in attaining sustainable goals.

The Coca-Cola Co continues to be market leader with more than 50% market share

In Asia Pacific, The Coca-Cola Co’s market share exceeds 50%, while PepsiCo maintains its second position at around 25% of total market share.