The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.
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Learn moreJun 2018
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In 2017, Asia Pacific comprised around one fifth of global volume sales for carbonates, and is home to several key markets, notably China. However, with growing health consciousness as well as rising anti-sugar legislation, growth prospects are expected to slow down. In response, manufacturers are expected to reformulate their product content to rejuvenate them as drinks with strong health positioning.
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Comprising one fifth of global carbonates by volume, at 39 billion litres in 2017, Asia Pacific is also home to several of the world’s largest carbonates markets. This is led by China, which is the fourth largest market for carbonates globally. Overall, retail value sales in the region amounted to USD27 billion in 2017.
China, India, the Philippines and Japan account for some 70% of the region’s total sales, with China contributing the bulk due to its large population size. While Japan observed declining sales due to rising health consciousness, coupled with GST implementation in India and post-election slowdown in the Philippines, the overall region’s performance is still lifted up by China’s sales recovery in 2017.
With rising concerns of obesity related to sugar consumption, consumers are shunning high sugar drinks such as carbonates. Moreover, governments have implemented anti-sugar legislation as seen in Thailand and the Philippines, and the price hike is expected to impact the category’s performance. In response, manufacturers are reformulating their products to lower sugar content, using natural sweeteners such as stevia and fruit flavours to maintain their appeal to health- conscious consumers.
The dominance of The Coca-Cola Co, is observed across the region, accounting for 57% of overall volume sales. The only exception is seen in Taiwan and Vietnam, which are dominated by PepsiCo Inc and Hey-Song Corp, preventing Coca-Cola from taking the leading spot.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.