PepsiCo remains the world’s second largest soft drinks company, with strong positions in carbonates, sports drinks, bottled water, and energy drinks. While mature markets show stagnant volume growth, emerging markets offer inflation-driven value gains. Strategic acquisitions like Poppi reflect a pivot towards functional, low-sugar beverages. Competitive pressure from Coca-Cola and private label brands continues to shape the landscape.

In Brazil, off-trade RTD volume sales of concentrates fell for the third year in a row in 2024, partly due to the competition from other soft drinks categories. For instance, over recent years, increasing awareness of the importance of healthy products benefited sales of juice, due to the perception of the good cost-benefit of a higher concentration of natural juice, and due to their convenient ready-to-drink (RTD) format. Particularly significant is the fact that juice drinks are commonly assoc

In addition to being a key player in its domestic alcoholic drinks market, leading in spirits, Suntory Holdings is the number two player in soft drinks in Japan, holding the top spot in both the RTD tea and bottled water categories. While its international coverage is relatively limited in soft drinks, it has a number of important brands in France and the UK in Europe as well as in Australia and New Zealand.

The concentrates category in Estonia has remained relatively stagnant in 2024, reflecting its continued struggle to gain traction amidst a highly competitive beverage market. Ready-to-drink (RTD) alternatives have presented significant challenges, offering greater convenience and often more appealing flavour profiles, which resonate better with modern consumer preferences. The absence of substantial marketing support and the concentration of offerings primarily in the lower end of the market hav

In recent years, there has been a major influx of concentrates made in Iran brought in via the Pakistan-Iran border. Since the new government came into power in February 2024, there have been stricter border controls, and many Iranian products, especially concentrates, have been seized by law enforcement agencies. Smuggled concentrates have flooded into the market offering lower price points to the local alternatives in Pakistan like Tang. Local companies have greatly benefited from the governme

In 2024, demand for concentrates in Serbia is driven by their lower prices compared to other soft drinks. With rising prices and a decline in disposable incomes, price-sensitive consumers are switching to more cost-effective concentrates. Powder concentrates is the best performing category in the year due to their greater popularity and wider availability in modern retail outlets.

Concentrates is seeing stable demand in 2024 as consumers respond positively to flavour innovations and frequent key new product launches. Price-sensitive consumers have also become more attracted to concentrates as they offer good value for money in the inflationary climate, with household budgets under pressure. Brand loyalty continued to weaken in the category in the year. Even though leading players have launched new products in line with the growing health and wellness trend, the share of p

There was muted volume growth for concentrates in Kenya in 2024. Concentrates is a mature product area, with little innovation, and this dampened volume sales. Also, though inflation has eased, consumers continued to be price sensitive after several years of price hikes. As a result, consumers purchased smaller sizes, as they looked to reduce their financial outlay. The product area also continued to be dominated by liquid concentrate.

The market for concentrates in Israel continued to expand in off-trade volume terms in 2024. While these products are not always perceived as healthy, they remain popular, particularly among families purchasing for children, as they offer a more affordable option compared to other soft drinks. Additionally, concentrates give consumers the flexibility to control the amount of product used, allowing them to adjust sugar intake according to personal preferences.

Overall, there was muted volume growth for concentrates in Dominican Republic in 2024. However, it was a tale of two stories. While powder concentrates continued to account for most volume sales and registered muted volume growth, liquid concentrates registered double-digit percentage volume growth. However, this was from a low base. Liquid concentrates performed better, as they are perceived as healthier. This was in spite of significant price increases for liquid concentrates. However, an imp

The decline in powder concentrates continues unabated in Tunisia 2024, reflecting changing consumer habits and a shift in preferences towards alternative beverage categories such as juices, carbonates, and other soft drinks. Powder concentrates, once a staple in many Tunisian households, have seen their appeal wane due to the proliferation of new, more convenient, and varied product offerings. International brands like Tang have exited the market, leaving behind a limited selection of domestic p

Concentrates in Canada registered an impressive performance in 2024 driven by stronger demand and consumption. Both liquid and powder concentrates are seeing a revival in demand stimulated by new product development and promotional activity. The wider availability of concentrated not just in supermarkets and hypermarkets but also health and beauty specialist retailers and online, is also helping the category to grow well in 2024.

In 2024, the affordability of concentrates in South Africa remains one of the key drivers of demand for the category. Despite shifts towards perceived healthier beverages, many South Africans continue to purchase concentrates based on cost-effect pricing. In addition, the ability to prepare multiple servings from a single unit means concentrates is an appealing option for lower-income households, especially in an inflationary environment. Furthermore, concentrates can be stored for long duration

Concentrates in India is expected to maintain slow and stable growth in off-trade RTD volume terms and current value terms in 2024, while on-trade sales will remain negligible. However, growth rates are expected to remain lower than for all other soft drinks categories in this year, and sales are also expected to remain lower than most other soft drinks categories, as most consumers value the convenience of RTD products such as bottled water, carbonates and juice, which they can more easily cons

Whilst powdered concentrates are a desirable budget option, demand is impacted by their lack of convenience as they need to be prepared before consumption. Also, preparation requires bottled water, as the tap water in Guatemala is not suitable consumption, which involves an additional cost. To drive demand during a time when growing inflationary pressures are curbing purchasing power, players are promoting the affordability of their products, which they claim make more of the prepared drink. Lea

In 2024, the concentrates category in Lithuania saw no significant developments, with retail volume continuing to stagnate. Consumers were increasingly gravitating towards ready-to-drink (RTD) beverages, which offer greater convenience and immediate consumption compared to concentrates. The growing preference for RTD drinks reflects a broader shift towards products that require less preparation and fit more seamlessly into busy, on-the-go lifestyles.

In 2024, total RTD volume sales of concentrates in Uruguay have continued to decline, largely driven by a shift in consumer preferences towards flavoured bottled water. The lingering effects of Uruguay’s water crisis during the first quarter of the year have left many consumers distrustful of tap water, which is essential for the preparation of powder concentrates. Consequently, flavoured bottled water has emerged as a more convenient and perceived safer alternative. Additionally, the cost of co

Concentrates are increasingly perceived as a cost-effective alternative to ready-to-drink (RTD) soft drinks, facilitating a notable migration of consumers away from juice, sports drinks, and other RTD categories. In particular, powder concentrates stand out for their economic advantages, delivering superior value in terms of cost per litre. Even as consumers explore more premium offerings, the price per litre of various concentrates consistently undercuts that of their RTD counterparts, generati

Concentrates have never been popular in Kazakhstan and this continues in 2024, with volume sales being low, and also expected to see a further overall decline in volume sales. Consumers prefer RTD options that are more convenient. Powder concentrates accounts for more volume sales, though liquid concentrates is expected to see a slight increase in volume sales in 2024.

The resurgence of liquid concentrates in Morocco in 2024 has been closely tied to the region’s hot weather and a growing focus on health-conscious consumption. Consumers have increasingly turned to liquid concentrates as a cost-effective and refreshing alternative to carbonated drinks and packaged juices. This shift has been particularly evident among low-income households, where flavoured water or milk prepared with liquid concentrates offers a more affordable solution for hydration. Liquid con

The concentrates category has experienced a decline in off-trade volume sales in North Macedonia in 2024, despite achieving modest off-trade rsp value growth supported by inflation-driven price increases. However, the overall performance of the category remains lacklustre due to limited investment and innovation. Manufacturers have shown little interest in revitalising the product area with new brands or product launches, leaving the category relatively uneventful. This stagnation highlights a b

Powdered concentrates have continued to be a mainstay in Costa Rican households in 2024, particularly among families seeking cost-effective solutions for preparing drinks. These products are especially favoured when catering to large groups, as they offer a quick, convenient, and affordable means of creating beverages. While natural drinks such as fresh lemonade and fruit-based concoctions hold cultural significance, powdered options have carved out a significant niche due to their practicality.

Concentrates in Cameroon faces a critical challenge in 2024 that extends beyond its high pricing, as the category struggles with consumer perceptions of value. Despite being one of the most expensive types of soft drinks, concentrates have failed to carve out a clear role in the market. Other categories, such as bottled water, juice, and energy drinks, are associated with well-defined benefits like hydration, health, or energy boosts, whereas concentrates lack a compelling proposition. This issu

Off-trade volume sales of liquid concentrates in Singapore are projected to continue declining in 2024 as health and wellness concerns take centre stage in consumer decision-making. Unlike fresh juices and smoothies, which are widely regarded as healthier due to their higher fruit content and natural ingredients, liquid concentrates are often perceived as less nutritious and high in sugar. This perception is further exacerbated by a lack of innovation, particularly in terms of introducing reduce