News | Industry Updates


Carbonated soft drinks market expands


The global carbonated soft drink market size is expected to reach $320.1 billion by 2028, according to a new report by Grand View Research. It is expected to expand at a rate of 4.7% from 2021 to 2028. The demand for carbonated soft drinks is influenced by an increased


disposable income, customer preferences, and a growing population. The industry has numerous prominent players who are similar in size and in product offerings. Many of these leaders create new product lines and actively participate in advertising wars. As numerous competitors are equally balanced, competitor rivalry is intense.


Key suggestions from the report: • The cola flavor segment held the largest share of over 55.0% in 2020 owing to the first mover’s advantage. The citrus flavor is expected to register the fastest growth rate of 4.9% from 2021 to 2028. The industry participants are expected to increase spending on developing carbonated soft drinks fortified with citrus flavors in order to expand their reach


• By distribution channel, the hypermarkets, supermarkets and mass merchandisers segment accounted for the largest share of more than 20.0% in 2020. A large number of consumers prefer buying these drinks from supermarkets and general merchandisers due to the shopping experience offered by these stores


• The online stores and direct to customer segment is expected to remain one of the key buying mediums among buyers as a result of increasing consumers’ willingness to pay a premium for mobile and internet shopping


• Central and South America held the largest share of over 25.0% in 2020. The young population, along with the availability of products from across the globe, is leading to a robust consumption of carbonated soft drinks in the countries, such as Brazil, Argentina, and Venezuela.


Omni-channel marketing and retailing have proved to be highly


beneficial for manufacturers as they help companies leverage new tools for product launches and drive sales. Direct-to-customer is one of the most popular strategies to enhance profit margins, wherein the manufacturers would have complete control over the quality of products as well as services. Carbonated soft drinks are being innovated in terms of taste,


appearance, texture, and ingredients depending upon the target age group. Soft drinks, specially designed for children and the elderly, are usually tailored to the appropriate needs of these consumer groups and an increasing number of players catering to these two segments can be seen mushrooming in the market.


New appointments at Marco Beverage Systems After over 25 years at the helm of Marco,


Drewry Pearson will move into the role of executive chairman; focusing on planning the next stage of the company’s development, as well as leading on sustainable business initiatives. Mr Pearson said: “Paul’s appointment as


MD formally recognises the role that he has been successfully performing for the past number of years. I have every confidence that Paul will continue to drive growth and success at Marco and wish him the very best.” Taking over as managing director, Mr


Stack steps up from the post of operations director at Marco. He has been at the forefront of the


Marco Beverage Systems has appointed Paul Stack as managing director in response to recent global growth and to facilitate further success worldwide.


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speciality coffee industry for over 15 years with the company. A former president of the Specialty Coffee Association (SCA), he believes education, training and community are core tenets of the beverage industry. He has overseen the development of Marco’s


award-winning, energy-efficient, and stylish coffee and water systems. Mr Stack is a champion of Design Thinking;


a customer-centric process that places emphasis on user needs and customer-centric innovation. This process has influenced the design of several of Marco’s award-winning products such as the Marco MIX, Marco FRIIA and the newly launched hands-free Marco FRIIA. Under Mr Stack’s leadership Marco has also adopted LEAN principles to drive efficiency across all operations. He said: “Marco has a deserved


reputation as the leading beverage system specialist in many areas of the hospitality marketplace. We have a tremendous opportunity to grow further and continue to diversify into new sectors, bringing our strong business values and service delivery to match the demands and ever-evolving expectations of our clients. I am delighted to lead and grow our excellent team to take Marco to the next level.”


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