Soft drinks see moderate growth in 2012
Soft drinks in Singapore saw positive volume growth in 2012. The majority of soft drinks products grew positively. The top three categories driving overall growth were RTD tea, bottled water and carbonates. 2012 growth was slightly better than the performance seen in 2011, as major companies launched new products as well as variants to complement their portfolios.
Consumers turn to healthier alternatives
As consumers become more health conscious, low fat and low calorie beverages are becoming more popular. Carbonates are increasingly passed over for healthier beverages such as fruit/vegetable juice and RTD tea. Manufacturers are responding with healthier variants of carbonates such as adding 100% juice as well as fortifying them with vitamins to appeal to the health-conscious carbonate lovers. The rising awareness of health and wellness among consumers continued to drive the growth of Asian speciality drinks in 2012, such as green tea and soy drinks which offer health and nutritional benefits.
Major players compete for share with portfolio expansion
Soft drinks maker F&N Foods (S) Pte Ltd maintained its leadership position of the soft drinks market in 2012. It saw a slight decline in share, while its two largest competitors – Coca-Cola Co and Sapporo Holdings Ltd, the holding company for Pokka – saw increases. With the expansion of brand portfolios by major players in 2012 carrying on into the forecast period, competition is expected in areas such as variant product marketing, revamping of old brands as well as innovative marketing campaigns both above and below the line.
Grocery retailers take lion’s share, vending seen as novel marketing tool
Grocery retailers continued to take the lion’s share of off-trade volume sales in 2012, at around 89%, with supermarkets and small grocery retailers being the popular locations for the purchase of such drinks. The new series of coins launched in 2012 by the Singapore Mint may also require a transition period for machine operators to calibrate their machines. Instead, vending is becoming an innovative way to market products, with novel marketing campaigns that are highly interactive and targeting the youth segment.
Forecast growth to be driven by marketing
Positive growth can be expected over the forecast period. Given the slowing growth of carbonates due to health concerns among consumers, carbonates’ manufacturers may continue to use price promotions to attract consumers, eroding profit margins. However, manufacturers that are able to develop and market new and healthier product offerings may be able to achieve higher levels of growth. Marketing is expected to be a key driver, with online marketing to youth consumers a key method of expanding share.
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The Soft Drinks in Singapore market research report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volumes and values, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent market research methodology, conducted in-country
Our market research reports answer questions such as:
- What is the market size of Soft Drinks in Singapore?
- What are the major brands in Singapore?
- What potential exists for multinational vs. local soft drinks companies looking to increase market share?
- How have changing social attitudes affected soft drink sales?
- How have sustainability issues; such as environmentally-friendly packaging, legislation on recyclability, or the amount of plastic in bottles, affected the soft drink industry?
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This industry report originates from Passport, our Soft Drinks market research database.