Global Squash/Syrups 2019 – Key Insights and Drivers behind the Squash/Syrups Market Performance
Summary
Despite a good year, squash/syrups managed to lose volume in North America. Canada experienced a drop in consumption as the country recorded a decline in frozen lemonades and fruit punches. At this point, households were looking for more convenient and sugar-free options, which the squash/syrups category was yet to offer. Companies appeared to be more focused on providing new flavor variants than healthier options, and this ultimately did not improve consumption volumes.
In economically disadvantaged areas of the world, value for money is a key factor in attracting consumers. For this reason, low-calorie products are not taking hold as firmly in these regions as in the Global North. Indeed, in poorer areas, cheap access to high-calorie beverages is necessary for the nutrition of many people.
In wealthier areas of the globe, particularly in the Global North, the overarching trend driving new product development was rising health consciousness. While not ubiquitous in its pressure globally, the influence the trend had in top-volume countries has helped shape the category, with new product development focusing on low-calorie, additive-free, and, in some cases, functional beverages.
The category saw an average global volume growth of 1.7%. Two key regions in 2018 were Asia and Africa. South Africa and the UK contributed the largest volumes, with growth occurring in the former. Single-digit volume growth is forecast for the global average, with South Africa expected to maintain its volume lead.
Price per liter increase was significant in Global North regions such as Western Europe, Eastern Europe, Australasia, and North America. Glass-packaged products in Australasia saw growth of 2.3%, with adult-targeted cordials selling well at a more premium price tag. In Western Europe, price per liter increase of 7% did not deter growth, prompting an average value increase of 10%. Eastern Europe, meanwhile, registered a price per liter increase of 7%, although lower purchasing power in these countries reduced participation in the category, with volumes falling by almost 2%.
Although glass is on the rise in a number of locations, particularly those experiencing premiumization, PET remains the most commonly used pack material for the category, growing globally by 1.1%. Plastic is favored when positioning products toward children and young people, its malleability allowing for the shaping of packaging in unique ways. Furthermore, the material’s transparency allows the liquid within it to be revealed, aiding consumer trust and providing an opportunity to market the product through the coloring of the bottle’s contents.
The report “Global Squash Syrups Report 2019” acts as an essential tool for companies active or planning to venture in to Global Squash Syrups (Soft drinks) market. The comprehensive statistics within the research handbook provides insight into the operating environment of the market and also ensures right business decision making based on emerging trends and industry model based forecasting.
GlobalData considers Squash Syrups as non-ready-to-drink (non-RTD) regular and low calorie products, marketed as concentrates for home consumption and flavoring.
Scope
Global Squash Syrups Report 2019 report covers over 8 global regions comprising of Africa, Asia, Australasia, Easter Europe, Western Europe, Latin America, North America and Middle East and North Africa, provides –
– Top line value and volume growth data, % share by flavor, key companies, packaging and distribution (on-/off-premise), with forecasts.
– Details of key new product launches by region.
– Overview of the competitive landscape in the Squash Syrups market, with analysis of key company performance.
– Insightful and valuable analysis of the drivers behind both current and emerging trends in the Squash Syrups market.
Reasons to Buy
– The Global Squash Syrups report allows you to evaluate forecast projections, enhancing your understanding of the evolving trends and consumption patterns.
– The report is arranged by region, giving a comprehensive view of current and emerging trends and opportunities to support corporate strategic planning.
– Identify the current and emerging trends and future growth opportunities in the global Squash Syrups market to assess the likely impact on company’s performance.
– Interrogate the data to understand both the historic and likely future performance of the global Squash Syrups industry by region to support long-term strategic planning.
