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 moreFeb 2015
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Emerging economies in Southeast Asia have made the region a hot bed for soft drinks growth over the last decade. However, as a broader range of consumers demand packaged beverages, global and regional manufacturers need to evolve their offerings to account for domestic preferences.
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Strong economic growth, due in part to the emergence of China and India as major world powers, has helped grow disposable incomes in many countries in Southeast Asia. This newfound wealth has afforded opportunities for consumers to expand their grocery needs to include packaged soft drinks.
Despite strong historic growth, considerable potential remains in the future as branded and packaged products can deeper penetrate the rural, lower-income classes. Low per capita figures demonstrate this potential, but the tried and tested method of using global brands and products to grow sales is less applicable among these consumers.
In years past, low-income consumers were often priced out of the market for soft drinks, but as incomes grow among all classes, new opportunities present themselves. However, simply securing distribution and using global brands to appeal to these newly enriched consumers ignore the impact of local culture. To that end, manufacturers must diversify their product offering.
With a broader subset of consumers demanding soft drinks, packaging becomes an important factor in distribution. Furthermore, local palates and customs have created a market for regional flavours and formulations.
Local manufacturers have grown amidst the global companies as they are more attuned to domestic demand. This is apparent in the popularity of local brands among RTD tea and sports and energy drinks.
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.