Sections
| Title | Starting Page | Number of Pages |
|---|
| Cover Page | 1 | 1 |
| Cover Page (CONT) | 2 | 1 |
| EXECUTIVE SUMMARY | 3 | 1 |
| Key findings | 3 | 1 |
| Graph - Demographic shifts further complicate consumer behaviour and beverage demand | 3 | 1 |
| Contents | 4 | 1 |
| Contents (CONT) | 5 | 1 |
| Graph - NTRODUCTION: HOW AFFORDABILITY HAS IMPACTED THE OUTLOOK IN GLOBAL SOFT DRINKS | 6 | 1 |
| Graph - Graph/Chart Analysis | 6 | 1 |
| Since 2018, non-alcoholic beverage expenditure has outpaced disposable income | 7 | 1 |
| Graph - World: Consumer Expenditure by Category and Disposable Income Growth 2018-2023 % growth | 7 | 1 |
| In Europe, retail non-alcohol spending is relatively low, but has spiked since 2018 | 8 | 1 |
| Graph - Graph/Chart Analysis | 8 | 1 |
| Meanwhile, retail volume grinds to a halt across Western Europe and North America | 9 | 1 |
| Graph - Western Europe: Soft Drinks Off-Trade Performance 2011-2025 % growth | 9 | 1 |
| North America: Soft Drinks Off-Trade Performance 2011-2025 % growth | 9 | 1 |
| Graph - Source: Euromonitor International Soft Drinks, 2025ed Note: 2025 represents estimate for FY 2025 growth | 9 | 1 |
| In the US, most categories of soft drinks have outpaced CPI - particularly CSDs | 10 | 1 |
| Graph - US: Soft Drinks Unit Price (USD/litre) Absolute % Growth (Nominal) and US Core CPI 2019-2025 | 10 | 1 |
| Graph - Graph/Chart Analysis | 11 | 1 |
| Lower-income consumers will continue to pull back from on-trade and impulse | 12 | 1 |
| Graph - The Bottom Half: Household Disposable Income by Decile (1-5) 2025 USD | 12 | 1 |
| INTRODUCTION: HOW AFFORDABILITY HAS IMPACTED THE OUTLOOK IN GLOBAL SOFT DRINKS | 13 | 1 |
| Graph - Graph/Chart Analysis | 13 | 1 |
| Demographic changes will further alter the perception of affordability and value | 14 | 1 |
| Graph - Birth Rate by Region 2004-2025 Births per '000 population | 14 | 1 |
| Graph - Graph/Chart Analysis | 14 | 1 |
| INTRODUCTION: HOW AFFORDABILITY HAS IMPACTED THE OUTLOOK IN GLOBAL SOFT DRINKS | 15 | 1 |
| INTRODUCTION: HOW AFFORDABILITY HAS IMPACTED THE OUTLOOK IN GLOBAL SOFT DRINKS | 16 | 1 |
| Graph - A two-step affordability challenge for the global soft drinks industry | 16 | 1 |
| INTRODUCTION: HOW AFFORDABILITY HAS IMPACTED THE OUTLOOK IN GLOBAL SOFT DRINKS (CONT) | 17 | 1 |
| Health and price are essential to consumers' definition of value | 18 | 1 |
| Graph - Graph/Chart Analysis | 18 | 1 |
| HEALTH AS WEALTH: HOW CONSUMERS ARE REAPPRAISING VALUE | 19 | 1 |
| GLP-1 will also change how some consumers think about health and engage with drinks | 19 | 1 |
| Graph - Graph/Chart Analysis | 19 | 1 |
| Hydration powders and gut-health CSDs have been post-pandemic success stories | 20 | 1 |
| Graph - E-Commerce: Annual Online Sales of Olipop and Poppi Brand Carbonates in the US 2022-2025 USD million | 20 | 1 |
| Superoot electrolyte mix exemplifies the blurring beverage-supplement line | 21 | 1 |
| Characteristic | 21 | 1 |
| Context | 21 | 1 |
| Consequence | 21 | 1 |
| Euromonitor's need states framework for FMCG 2025 | 21 | 1 |
| Graph - Despite tighter budgets, Chinese consumers remain focused on healthier products | 22 | 1 |
| For lower-income consumers, health and diet also remain key priorities | 23 | 1 |
| Graph - Graph/Chart Analysis | 23 | 1 |
| For lower-income consumers, health and diet also remain key priorities (CONT) | 24 | 1 |
| Graph - Measuring affordability in global soft drinks: Price, wages and consumption | 25 | 1 |
| Graph - Graph/Chart Analysis | 25 | 1 |
| Middle East and Africa and emerging APAC are the primary sources of future volume | 26 | 1 |
| Graph - Graph/Chart Analysis | 26 | 1 |
| Graph - There remains huge unrealised potential for commercial beverages globally | 27 | 1 |
| Mastery of small, fragmented and independent retail will prove essential | 28 | 1 |
| Graph - Middle East and Africa: Soft Drinks Retail Volume Growth 2019-2025 | 28 | 1 |
| Graph - Source: Euromonitor International Soft Drinks Passport 2025ed | 28 | 1 |
| Varun and PepsiCo's Sting Energy demonstrates the disruptive potential of affordability | 29 | 1 |
| Graph - Characteristic | 29 | 1 |
| Context | 29 | 1 |
| Consequence | 29 | 1 |
| Graph - India: Off-Trade Brand Share in Energy Drinks 2019-2025 % share | 29 | 1 |
| The on-premise market for soft drinks will also fragment, as online delivery thrives | 30 | 1 |
| Graph - Graph/Chart Analysis | 30 | 1 |
| Convenience and mobility drive post-pandemic smart vending across Asia | 31 | 1 |
| Characteristic | 31 | 1 |
| Context | 31 | 1 |
| Consequence | 31 | 1 |
| Demand for affordability drives a preference for local and regional alternative brands | 32 | 1 |
| Graph - Satu Kenangan, Indonesia | 32 | 1 |
| Graph - Zus Coffee, Malaysia | 32 | 1 |
| Table/Chart: Prices of Coffee in Selected Specialist Coffeeshops in Asia Pacific | 32 | 1 |
| Graph - Graph/Chart Analysis | 33 | 1 |
| Prime is the first lifestyle beverage brand born online, but not the last | 34 | 1 |
| Graph - Graph/Chart Analysis | 34 | 1 |
| Non-alcoholic beer, spirits, RTDs and mixers are emerging as "top shelf" soft drinks | 35 | 1 |
| Kin Euphorics | 35 | 1 |
| Ghia | 35 | 1 |
| Aldi's Ridge Valley private label targets value "dupes" of premium soft drinks brands | 36 | 1 |
| Graph - Characteristic | 36 | 1 |
| Context | 36 | 1 |
| Graph - Consequence | 36 | 1 |
| Rising wellness culture invites a "lipstick effect" for functional lifestyle drinks | 37 | 1 |
| Graph - Graph/Chart Analysis | 37 | 1 |
| Beverage brands as lifestyle symbols and fashion accessories | 38 | 1 |
| De Soi | 38 | 1 |
| Graph - Image source: Drinkdesoi.com | 38 | 1 |
| WaterTok | 38 | 1 |
| WaterTok (CONT) | 39 | 1 |
| Recommendations/opportunities for growth | 40 | 1 |
| Graph - Winning with the value- conscious consumer in developed markets | 40 | 1 |
| Evolution of affordability, value and soft drinks | 41 | 1 |
| stions we are asking | 42 | 1 |
| multinational mega brands losing edge in global soft drinks? | 42 | 1 |
| Will GLP-1 adoption commodify wellness? | 42 | 1 |
| Does price fatigue and anti- consumerism drive more DIY consumption? | 42 | 1 |
| About the author | 43 | 1 |
| About the author: | 43 | 1 |
| Expertise areas: | 43 | 1 |
| Euromonitor's research spans 210 countries and 99.9% of the world's consumers | 44 | 1 |
| Graph - Analysts in 100 countries | 44 | 1 |
| Tailor these insights to your business | 45 | 1 |
