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 moreDec 2016
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As prevalence of obesity and diet-related disease is rising, public awareness of unhealthy food and drinks follows suit. Public health bodies are desperate to find solutions, and one of the possible remedies are sin taxes, typically associated with alcohol or tobacco. In 2016, the WHO has recommended a minimum 20% excise tax on all sugar sweetened beverages. Although a global perspective on nutrition and health is necessary, sugar in soft drinks is currently the most heavily targeted of all.
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Out of 19 countries that currently implement sin taxes on food or drinks, 13 had only introduced them in the past decade; however an increasing number of countries are committed to do the same in the next 1-2 years. Along with the recent WHO recommendation on sugar tax, all planned food/drink sin taxes will target sugary soft drinks with the aim of reducing sugar consumption by up to 20%.
Among EU countries, soft drinks tax revenue ranged from €89 million to €312 million a year on average. Taxation of soft drinks sweetened with sugar and, as well as, those with high intensity sweeteners is weaker at reducing consumption, but generates higher revenue per capita.
Further insight into sin taxes in eight countries showed that in the majority of cases the tax only induced a temporary dip in sales of the taxed items. Preliminary findings show that the higher the tax, the longer its effect on sales.
Despite growing recommendations from public health bodies to include 100% fruit juice in soft drinks taxation, only one country is considering this in its future legislation. According to Euromonitor’s Passport Nutrition data, if 100% juice was taxed in the same way as sugary soft drinks in the UK, this would generate some £267 million a year in tax revenue.
One in five of the researched countries by Passport Nutrition consume more than 40% of daily calories from fat, and an astonishing 63% of researched countries consume more that 20% of their daily calories from total sugar. These could be the best potential targets for the next sugar and fat taxes.
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.