Squash Drinks Market to Grow with a CAGR of 3.47% Globally through to 2028
Increasing demand for healthy and refreshing
beverages, rising disposable incomes, and growing urbanization are factors
driving the global squash drinks market in the forecast period 2024-2028.
According to TechSci Research report, “Global Squash
Drinks Market - Industry Size, Share, Trends, Competition Forecast &
Opportunities, 2028”, the Global Squash Drinks Market stood at USD 1.28
billion in 2022 and is anticipated to grow with a CAGR of 3.47% in the forecast
period, 2024-2028. The squash drinks market has witnessed substantial growth
due to various factors, each of which plays a significant role in shaping the
industry.
Squash drinks, also known as concentrated fruit
drinks, have become increasingly popular in recent years. These beverages offer
a convenient and flavorful way to enjoy fruit flavors while staying hydrated. One of the primary drivers behind the growth of the
squash drinks market is the global shift towards healthier lifestyles and
dietary choices. Consumers are becoming more health-conscious, seeking
beverages that offer both refreshment and nutritional benefits. Squash drinks
are well-positioned to meet this demand due to their unique characteristics.
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The squash drinks market is thriving, driven by a
combination of health and wellness trends, convenience and customization
options, sustainability efforts, global expansion, and effective marketing
strategies. These drivers have not only fueled the growth of the industry but
have also positioned squash drinks as a versatile and appealing choice for
consumers seeking refreshing, healthy, and eco-friendly beverages. As consumer
preferences continue to evolve, the squash drinks market is likely to see
further innovations and expansion in the coming years.
The Squash Drinks market is undergoing a
transformation driven by evolving consumer preferences and trends. Health and
wellness focus, flavor innovation, sustainability efforts, convenience options,
and the emergence of craft and artisanal offerings are all shaping the
industry's future. To thrive in this dynamic market, Squash Drink manufacturers
must adapt to these trends, innovate their products, and respond to the
changing expectations of consumers who are seeking not only refreshing
beverages but also enhanced health benefits and unique taste experiences.
The increasing demand for healthy and
refreshing beverages is one of the key drivers of the global squash drinks
market. Squash drinks are a good source of vitamins and minerals, and they are
also low in calories. This makes them a popular choice for consumers who are
looking for a healthy alternative to sugary drinks. The rising disposable
incomes and growing urbanization are also driving the growth of the global
squash drinks market. As people become more affluent, they are spending more
money on food and beverages. They are also more likely to live in urban areas,
where they have access to a wider range of products.
The global squash drinks market is
expected to grow significantly in the coming years. The increasing demand for
healthy and refreshing beverages, rising disposable incomes, and growing
urbanization are the key factors that are driving the growth of the market.
These companies are investing in new
product development and marketing initiatives to expand their market share. For
example, Britvic plc recently launched a new range of no-sugar added squash
drinks, and PepsiCo Inc. has expanded its portfolio of squash drinks in India
and China. In addition to these established companies, a number of new entrants
are also entering the squash drinks market. These new entrants are typically
focused on developing innovative and niche squash drink products. For example,
some new entrants are developing squash drinks made with organic ingredients,
while others are developing squash drinks with specific health benefits, such
as reduced sugar or added vitamins.
The Global Squash Drinks Market is segmented into product
type, base type, distribution channel, regional distribution, and company.
Based on product type, No-sugar added
squash drinks have high market share due to a number of factors. This growth is
being attributed to the factors mentioned above, as well as the increasing
demand for healthy and refreshing beverages in developing countries. Consumers
are becoming more aware of the health risks associated with excessive sugar
consumption, such as obesity, diabetes, and heart disease.
Based on region, The Europe region has the highest
demand for squash drinks. In 2022, Europe accounted for over 30% of the global
squash drinks market share. Squash drinks have been consumed in Europe for
centuries, and they are a popular part of the culture in many countries, such
as the UK, Ireland, and Australia. Consumers in Europe have high disposable
incomes, which allows them to spend more on food and beverages.
Major companies operating in Global Squash Drinks Market
are:
- Britvic plc
- PepsiCo Inc.
- The Coca-Cola Company
- Suntory Beverage & Food Ltd.
- Cott Corporation
- Refresco Group
- Keurig Dr Pepper Inc.
- AG Barr
- Kraft Heinz Company
- Nestlé S.A.
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“The Squash Drinks market has experienced robust
growth in recent years. This growth can be attributed to shifting consumer
preferences towards healthier and more natural beverages, the introduction of
innovative flavors and formulations, and increased awareness of the health
benefits associated with some squash drinks. Additionally, the market's
expansion into new global regions and its response to sustainability trends
have contributed to its upward trajectory. As consumers continue to seek
refreshing, customizable, and eco-friendly beverage options, the Squash Drinks
market is expected to continue its growth momentum.,” said Mr. Karan Chechi,
Research Director with TechSci Research, a research-based management consulting
firm.
“Squash
Drinks Market – Global Industry Size, Share, Trends, Opportunity, and Forecast,
Segmented By Product Type (Added Sugar, No-added Sugar), By Base Type (Berry,
Citrus Fruit, Tropic & Exotic Fruits, Mixed Fruits, Others), By
Distribution Channel (Hypermarkets/Supermarkets, Convenience Stores, Online,
Others), By Region, By Competition, 2018-2028”, has evaluated the
future growth potential of Global Squash Drinks Market and provides statistics
& information on market size, structure and future market growth. The
report intends to provide cutting-edge market intelligence and help decision
makers take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in Global Squash Drinks Market.
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