The latest market forecast report published by Transparency Market Research on thesquash drinksmarket includes global industry analysis and opportunity assessment for the period from 2019 to 2029. The global squash drinks market is projected to grow at a CAGR of ~5% during the forecast period.
Consumers are more focused on healthy and nutritional beverages derived especially from natural sources. Consumers are opting for natural beverages (plant or animal-based), as they are more beneficial as compared to other beverages, including carbonated drinks and others. Nutrients from fresh and natural beverages are easily absorbed by the body compared to beverages composed of artificial ingredients.
There are multiple health benefits associated with natural beverages, which include no obesity, weight loss, healthy lifestyle, and other natural cures. With increase in awareness among consumers regarding the health benefits of natural beverages, the demand for natural and functional ingredients is expected to increase. The demand for health drinks across the globe is high, which is likely to create growth opportunities for companies in the global squash drinks market. Ever-mounting demand for healthy, flavored beverages with natural constituents is projected to result in significantly high sales of squash drinks over the years. Due to these factors, the squash drinks market is anticipated to exhibit growth at a considerable pace during the forecast period.
Innovation in flavors is described as the key focal point, as changing consumer taste and expectations are exerting significant influence on the beverages sector. The growing sophistication in how consumers view flavor profiles in food and drink is creating new opportunities in marketing, product development, and food pairing. There is a use of cutting-edge scientific research into effects of context, social dynamics, physical reality, and musical and other sounds to influence flavor perception. The transportation to rarefied high art spaces also transforms the concept of what constitutes “good taste,” fusing concepts of beverage quality with cultural quality.
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In the global beverages industry, product innovation is a continuous process, which has fueled the growth of the beverages industry over decades. The use of non-alcoholic beverages started with the launch of simple cola flavored soda in the 90s and has evolved to a large varieties of drinks with different properties, such as infused flavor, added antioxidants, botanical flavors, blended varieties, and others. The increasing flavor inspiration among consumers has also propelled the demand for vibrant flavors and more palatable beverages in the market. This has led to the advent of various new concepts in the beverages industry, such as functional beverages, infused beverage, and fruit-based squash drinks in the beverages industry. Squash drinks are gaining customer attention due to their vibrant flavors, which contributes to sensorial satisfaction and unique mouthfeel experience of consumers. This is expected to drive the squash drinks market during the forecast period.
Key players operating in the squash drinks market, as profiled in the study, include Britvic PLC. (Robinsons), Tovali Limited (Tovali), J Sainsbury plc (Sainsbury’s), Nichols plc (Vimto), Dr Pepper Snapple Group (Schweppes), Unilever plc (Kissan), Prigat, PepsiCo Inc (Tropicana), Suntory group (Lucozade Ribena Suntory Ltd.), Carlsberg Breweries A/S, Harboe’s Brewery (Harboe Squash Light), The Coca-Cola Company, and Belvoir Fruit Farms Ltd.