The growth rate of concentrates through off-trade is set to significantly slow in 2021 after a record-breaking year in 2020. While consumption throughout the pandemic in 2020 led to double-digit value and volume growth, the category is seeing a period of adjustment in 2021 with off-trade volume sales remaining positive but stagnant, in addition to much slower current value growth.
The expansion of players’ portfolios within concentrates is also supporting demand for liquid concentrates in 2021 as consumption increases, with rising interest in novelty. The launch of new flavour combinations have brought renewed interest to a mature category, which previously appeared to be lacking in potential to expand.
The gap between on-trade and off-trade widened substantially in 2020 and into the following year as foodservice establishments experienced continued closures until July 2021. Similarly, the decline of on-the-go consumption occasions of various soft drinks drove consumers towards the concentrates aisle in retailers more frequently than before.
The increase in health and wellness consciousness is expected to significantly impact the growth trajectory of concentrates through off-trade over the forecast period, although innovation offers improved potential for further expansion. The opportunities to expand the consumer base to encompass both younger and older demographics suggests brands could capitalise on shifts in consumer behaviour.
Concentrates should remain relatively resilient to risks from legislative developments. While the increase in regulations on high sugar content will impact concentrates, the price advantage of the category will remain, and more price-sensitive consumers are expected to maintain their new habits.
While the increasing consumption of liquid concentrates and the solid performance of innovative products such as fortified variants are likely to drive further growth, the decline of powder concentrates is expected to increase in magnitude. With popularity dropping amongst local consumers, powder variants are struggling to remain relevant.
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Understand the latest market trends and future growth opportunities for the Concentrates industry in Ireland with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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This is the aggregation of liquid concentrates and powder concentrates.See All of Our Definitions
This report originates from Passport, our Concentrates research and analysis database.
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