Market Insights & Projections: Malaysia Soft Drinks Market (2022-32)
Soft drinks, often called carbonated drinks, are sweetened, non-alcoholic liquids that are usually fizzed by the presence of carbon dioxide. They come in conventional and diet varieties, with the latter utilizing artificial or natural sweeteners in place of sugar, and are frequently flavored with different syrups, such as cola, fruit, or citrus. Due to their high sugar content, tendency to cause obesity, and connections to dental problems, soft drinks are used by people all over the world for their convenient and pleasant taste, but they are also linked to health risks. The environmental effects of soft drink consumption have also been closely examined, with a focus on the waste generated during packaging and the production's carbon footprint.
SPER Market Research's report, "Malaysia Soft Drinks Market Size- By Type, By Application- Regional Outlook, Competitive Strategies and Segment Forecast to 2032," projects that the market for soft drinks will grow at a compound annual growth rate (CAGR) of XX% to reach USD XX billion by 2032.
Malaysia Soft Drinks Market Drivers and Challenges:
Drivers - The increasing urbanization and disposable income of consumers, along with their increased spending on a wider variety of beverages, are two major drivers driving the expansion of the soft drink market in Malaysia. Variety in soft drink tastes and styles is in high demand due to the youthful, vibrant population's increased inclination for convenience and creativity. Increased product availability and exposure are also a result of big soft drink companies' active marketing campaigns, growing retail locations, and improved distribution networks. An increasing number of low-sugar and healthier beverage options are being offered as a result of health-conscious trends in the market. In addition, holidays and get-togethers boost consumption, which propels market growth overall.
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Challenges - Increasing consumer health consciousness is one of the difficulties facing the Malaysia Soft Drink Market; this puts pressure on traditional sugary soft drinks and generates demand for healthier beverage options. A part of the problem is regulatory in nature; in an effort to curb the rising rate of obesity, the government has imposed tariffs on sugar-filled beverages and harsher health regulations. Further factors that might affect pricing and profit margins are changes in the price of raw materials, such as sugar and packaging materials. Market share can be squeezed and profitability impacted by fierce competition from both well-known brands and up-and-coming local competitors. Sustainable procedures are necessary because environmental concerns over plastic waste from beverage packaging exacerbate the problems facing the sector.
COVID-19 Impact on Malaysia Soft Drinks Market:
As a result of the COVID-19 epidemic, Soft Drink consumption in Malaysia had a brief fall which had a substantial influence on social gatherings, restaurant and entertainment venue closures, and changes in consumer spending preferences. But when the limits relaxed, the market rebounded, and demand for a wide range of soft drinks surged due to the increased emphasis on at-home consumption. Direct-to-consumer sales channels and internet retail became more popular during the pandemic, which made it easier for businesses to adjust to the shifting buying habits of their customers. Furthermore, increased demand in low-sugar and functional beverages was spurred by increased health consciousness, which affected marketing plans and product development.
Market Competitive Landscape:
As the capital and largest city, Kuala Lumpur has extensive retail infrastructure, including supermarkets, convenience stores, and dining establishments, provides significant market reach and visibility for soft drink brands. Some of the Key Players are A.G. Barr, Arizona Beverage, Asahi Soft Drinks, B Natural, Britvic, Coca-Cola, Danone, Dr Pepper Snapple, Highland Spring, Innocent Drinks, Ito En, Kirin, Nestle, Otsuka Holdings, PepsiCo, POM Wonderful, Red Bull and Others.
Key Target Audience:
Business development professionals
Directors
Financial professionals
Industry strategists
Investment managers
M&A managers
Management consultants
Marketing professionals
Product developers
Product managers
Others
Malaysia Soft Drinks Market Segmentation:
By Type:
Bottled Water
Carbonates
Dilutable
Fruit Juice
Still and Juice Drinks
By Application:
Convenience Store
Online Stores
Supermarket
By Region:
East Malaysia
Peninsular Malaysia
West Malaysia
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SPER Market Research
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