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02 Feb 2023, Edition - 2760, Thursday

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Growing Sustainability Concerns Will Shape the Indian Soft Drinks Industry

by businesswireindia.com

Business Wire India

Ethical living is a crucial trend currently influencing consumer preferences and driving new product development in soft drinks in India, according to global market research company Euromonitor International in its webinar ‘Megatrends shaping the soft drinks market in India’.


Mounting concerns about single-use plastic in India will fuel the ethical living trend in soft drinks as consumers become more conscious about their purchases. According to Euromonitor International’s lifestyles survey 2019, 67% of digitally connected consumers from India identify themselves as environmentally conscious or eco-friendly with purchases leaning towards natural, organic and recyclable products.


“Trends in packaged food and beverages tend to set precedence for other fast-moving consumer goods categories, and we can already see the ethical living trend influencing purchases in the beauty and personal care industry as well,” says Amulya Pandit, senior research analyst at Euromonitor International. According to Euromonitor International, the Indian soft drinks industry reached 22.8 billion litres in total volume sales in 2018 and is expected to grow by 14.9% in 2018-2023.


“It is important for companies and brands to recognise these megatrends and set-up short and long-term strategies to tackle these shifts in consumer demand,” concludes Pandit.


To watch the webinar, please click here: https://go.euromonitor.com/webinar-softdrinks-2019-megatrends_in_india.html


About Euromonitor International


Euromonitor International is the world’s leading provider for global business intelligence, market analysis and consumer insights. From local to global and tactical to strategic, our research solutions support decisions on how, where and when to grow your business. Find the right report, database or custom solution to validate priorities, redirect assumptions and uncover new opportunities. With offices around the world, analysts in over 100 countries, the latest data science techniques and market research on every key trend and driver, we help you make sense of global markets.


Source: Businesswire