Brazilâ€™s economy gradually improving and this has impacted the disposable income of the consumers and hampered the sales of carbonated drinks. Due to low disposable income in some countries the local manufacturers are benefitting due to the price advantage.
In 2014, shifting trends in Brazil from carbonated drinks to bottled water due to rising health awareness increased the volume sales in Brazil , by 16%. Flavored water has gained popularity in Chile and is estimated to witness a healthy growth of approximately 15% CAGR through 2020.
Increasing child mortality rate due to diarrheal disease and polluted/contaminated government water resources are the boosting drivers for the growth of the market in the region, especially in India and China (India is estimated to record an increase with 20% CAGR by 2020).
Baby Food market in Brazil is projected to witness growth rate of more than 4% during the forecast period in Brazil due to introduction of new and innovative baby food by manufacturers to attract consumers and boost sales. Growing nutritional awareness among the parents and sales at grocery retailers to exhibit growth rate of around 7% for baby products market in Chile.
South America is considered as an emerging market for the alcohol industry because of its economic development and high proportion of potential young consumers.
The expanding middle class customers in APAC countries such as Vietnam, Indonesia, India and so on will drive the market of carbonated soft drinks.
In 2018, the North America carbonated soft drinks market size stood between $65 billion-70 billion, and during the forecast period of 2019-2025, the market demand will grow with a decent compound annual growth rate (CAGR) of 2%-3%.
By 2020, Asia Pacific region expected to be the largest alcoholic beverage market in terms of value providing significant opportunities for the alcohol business.
The market for baby foods in Asia-Pacific is estimated to witness sluggish growth due to changing government regulations and policies regarding population control.
PET bottle packaging is widely preferred owing to its recyclable quality. According to Beverage Marketing Corporation, consumption of bottled water in U.S. was more than 10 billion gallons in 2014.