Organic Soft Drinks Global Market Declines Amid COVID-19
Wednesday, July 1st, 2020 | 344 Views
The global organic soft drinks market is expected to decline from $5.55 billion in 2019 to $5.33 billion in 2020 at a compound annual growth rate (CAGR) of -3.84 percent due to COVID-19, according to a report by Research and Markets.
Organic soft drinks are made from products produced by organic farming which does not contain artificial flavours and preservatives which contain natural sweetening agents, low calories and high nutritional value.
The outbreak has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities. The entire supply chain has been disrupted, impacting the market negatively.
Furthermore, the high cost of organic products including soft drinks compared to conventional soft drinks, has also acted as a hindrance to the markets. For example, the cost of Galvanina – Cola sparkling soda 350ml is $82.99 for 12 bottles, whereas the cost of 15 bottles of coco-cola 330ml cost around $27.
However, recovery is expected in 2023, reaching $6.80 billion with a CAGR of 8.42 percent. Increasing awareness of the benefits of organic foods and beverages have contributed to its growth. People are becoming more health-conscious and are looking for more organic food products that are healthier and better for the environment.
Check these articles out: