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FF beverages returned to growth in 2020 in current value terms, largely driven by a spike in demand for FF fruit/vegetable juice. With the outbreak of COVID-19 many people went in search of healthier drinks options, and in particular products which could boost their immune system.
While FF soft drinks witnessed a turnaround in fortunes in 2020, driven by the spike in demand for FF fruit/vegetable juice, the opposite was true for FF hot drinks. While sales of FF hot drinks continued to grow in current value terms in 2020, growth was nonetheless slower than in 2019 with consumers favouring healthier and more refreshing drinks such as fruit/vegetable juice and bottled water, which are better suited to the hot, dry climate.
The average unit price of FF beverages rose in 2020 which served to put the brakes on volume growth, with incomes coming under pressure due to COVID-19. Some products such as FF energy drinks were hit by the 50% excise tax that was imposed on sugary beverages as from 1 December 2019.
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Overview: Discover the latest market trends and uncover sources of future market growth for the Fortified/Functional Beverages industry in Saudi Arabia with research from Euromonitor's team of in-country analysts.
Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.
The Fortified/Functional Beverages in Saudi Arabia market research report includes:
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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.