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According to Market Research and Competitive Intelligence provider Fact.MR, market research and competitive intelligence provider; the global Soft Drinks Market is estimated to be worth USD 129.3 billion in 2023 and is expected to grow at a CAGR of 3.6% during the period 2023-2033. The market is expected to grow due to increasing consumer popularity and penetration of enhanced beverages in supermarket aisles. Pick-up drinks have gained popularity only among professional athletes and health-conscious people.
But under the umbrella of widespread use of social media, global preferences are shifting toward healthier lifestyles and fitness standards, accelerating product adoption among the population. The introduction of several functions in fortified drinks expands their field of application. Energy drinks are not only about increasing energy, but also about improving health and fitness by aiding digestion, boosting immunity, and promoting hair and skin health. This has allowed the market to grow exponentially in other recessionary regions such as East Asia.
In addition, during and after the Covid-19 outbreak, energy drinks have received a lot of public attention due to their immune-enhancing properties. Increasing per capita disposable income and increasing expenditure on food and beverages and personal health will also contribute to the growth of the market.
New, innovative, more nutritious and organic products available from manufacturers will drive market expansion, the market research firm said. In addition, reducing caffeine and using alternative ingredients in product processing will reduce the negative effects of caffeine on public health, thus contributing to the commercial success of the product.