Following Coca-Cola’s announcement that its Q2-2021 net revenues grew by 42 per cent globally for its beverage’s performance, data and analytics platform GlobalData says this is a step forward for beverage manufacturers to achieve pre-pandemic volumes.
“Not only does growth reinforce the company’s stable market position but highlights recovery of the non-alcoholic beverages market across many parts of the world – although countries such as India continue to be impacted by COVID-19,” GlobalData consumer beverages analyst Holly Inglis said.
Coca-Cola’s 14 per cent growth in Q2-2021 for sparkling soft drinks was an achievement, considering the category has seen a continually downward trend in recent years.
“According to GlobalData’s latest survey (Q2-2021), one in four (38 per cent) of consumers are actively trying to reduce their sugar consumption, which has created a challenging landscape for soft drink producers,” Inglis said.
“Strong brand recognition, alongside continued innovations to core brands such as Coca-Cola Zero Sugar, have helped stimulate this growth.
“For the remainder of 2021, the outlook is positive for both Coca-Cola, and the general non-alcoholic drinks market. However, revival will remain in the hands of how COVID-19 develops,” she said.
“Product innovations and maintaining a strong brand image is vital for long-term success and to maintain consumer attractiveness.”
This data was obtained from a GlobalData Q2-21 Consumer Survey, “Extremely concerned, quite concerned, slightly concerned.”
GlobalData’s mission is to help its clients decode the future to be more successful across a range of industries, including healthcare, consumer, retail, financial, technology and professional services sectors.