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“In India, the soft drinks market is mainly driven by growing demand for soft drinks, rising GDP and per capita income, surging sales through e-commerce, etc. Endorsements by stars of cinema are some of the main reasons for this growth.Additionally, changing consumer tastes and preferences in food and beverages have led to an increase in the consumption of non-alcoholic beverages,” a report states.
This year, summer has come early and after two consecutive washed out seasons, FMCG companies have seen an increase in demand for soft drinks. Summer drinks such as lassi, sharbats, fruit juices, fruit and dairy drinks, among others, have seen an increase in demand. Parle Agro, one of India’s leading beverage manufacturing companies, experienced volume growth during this period. “The company is looking at more than 30-35% volume growth in its beverage portfolio in calendar year 2022 compared to last year. We recently launched a campaign for Frooti after two years. The brand Frooti’s large-scale creative has generated tremendous buzz and consumer enthusiasm across the country. For Appy Fizz and B Fizz, we took an aggressive distribution-focused approach leading to higher reach and growth.” , Nadia Chauhan, Co-CEO and CMO, Parle agro, told Entrepreneur India in a previous interview.
India is an important market for many players looking to establish a strong beverage brand. The increase in foreign investment and collaboration in the Indian food and beverage industry suggests considerable growth in items offered by multinational and national companies. Many brands offer non-alcoholic clones of popular alcoholic cocktails. “Before we launched our products, the only soft drink options were regular Coke and Pepsi, packaged fruit juices and iced teas, but nothing as complicated as a good cocktail. Taste is important, whether the drink either alcoholic or non-alcoholic,” Aneesh Bhasin, co-founder of Svami Drinks quoted in the report. United Breweries, the maker of Kingfisher beer, has also joined the league by launching soft drinks.
Dabur India, Coca-Cola India, Hector Beverages, Parle Agro among others are the major market players in the soft drinks industry.