Off-trade volume sales of liquid concentrates is set to record positive growth due to the outbreak of COVID-19. This was due to consumers increasing their consumptions of concentrates within the home, with many workers working from the household, instead of their workplace, needing a higher volume of beverages to enjoy within the home.
Powder concentrates is set to record a notable boost in sales during 2020, aligned to the outbreak of COVID-19. These sales were aided by the specific positioning and image that these products have among Serbian consumers, with the majority of consumers tending to see powder concentrates as good for one’s health and wellbeing, often perceived more as healthy dietary supplements and vitamins, than as soft drinks.
When looking at powder concentrates by type, fruit flavours are continuing to lose share in 2020, thanks to the increasing visibility of new, innovative options, such as iced tea and iced coffee. This trend was visible during the entire review period and is continuing in 2020.
During 2020, both off-trade volume and value sales are set to heighten, as consumers spend more time at home and demand a higher volume of soft drinks to enjoy during the day. However, in 2021, off-trade volume sales are expected to slow down, in both liquid and powder concentrates.
On-trade sales of liquid concentrates are expected to remain non-existent over the forecast period, whereas powder concentrates have more potential to reach significant on-trade volume sales by the end of the forecast period. However, this will depend on whether these products will maintain their reputation of being healthy and good for one’s immunity, with the health and wellness trend being an ongoing driver of growth across all soft drinks for the coming years.
Across the forecast period, the main focus of liquid concentrates producers is expected to be cost, maintaining a low unit price that continues to appeal to the main target consumer group, which is price-sensitive. However, when it comes to powder concentrates, manufacturers will need to maintain the healthy image of the products, as the high sugar content of offerings may impact its health position across the coming years.
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This report originates from Passport, our Concentrates research and analysis database.
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