Sales of concentrates declined in 2018 due to limited product variety, a lack of investment and innovation and because trends in soft drinks are not favourable to concentrates. Companies are de-investing from the area, focusing instead on other soft drinks areas with better growth opportunities.
Powder concentrates is a small declining area in Greece that lags behind other soft drinks areas in terms of development and innovation. Sales are dominated by products for preparing RTD tea, with a fraction of sales being accounted for by powder sports drinks.
The healthy living trend is thriving in Greece, thus taking a toll upon liquid concentrates, which are suffering from a steady decline in sales as a result of their high sugar and low fruit content. This situation is unlikely to change over the forecast period as the new generation of consumers is more health-conscious.
In value terms, Unilever remains the leading player in concentrates given the higher contribution of powder concentrates in value terms. The company gained sales share within total concentrates, with products in powder format posting a milder decline in sales than liquid concentrates and thus gaining sales share.
Multinationals Unilever, with its Lipton Ice Tea brand, and Nestlé, with Nestea, lead sales within powder concentrates. Unilever retains its leadership, accounting for the majority of sales, although the company is focusing on the Lipton brand in tea and de-investing from powder concentrates.
Leading soft drinks manufacturers are not investing in liquid concentrates, which is considered a dated area with no growth potential. Indeed, PepsiCo discontinued its Ivi brand in 2017 to focus on more lucrative areas.
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This industry report originates from Passport, our Soft Drinks market research database.