Why are soft drink companies innovating?
This article will explain why soft drinks companies are innovating. The soft drinks market is crowded and is roughly worth around £15.5 billion in the UK alone.
So why are soft drinks companies innovating? Well, consumers, today are looking for an alternative soft drink which is low in sugar and calories. Consumer’s health is a driving factor when it comes to purchasing soft drinks.
Currently, a majority of soft drinks are known to be very sugary and full of calories. Soft drink manufacturers are under increasing pressure to adapt as rapid social and lifestyle changes drive consumer away from traditionally popular segments.
In recent years, soft drink companies have noticed that consumers becoming increasingly aware of the health implications associated with soft drinks. In order for soft drinks companies to counter the growing demand for healthier drinks, soft drink companies need to innovate to keep customers happy.
Over the last few months, soft drink companies have been seeking out healthier beverage options which contain lots of vitamins and minerals which are healthier and have an improved flavour. Examples of new soft drinks being innovated are ready to drink teas (RTD) & vegetable juices.
RTD teas are becoming a popular choice for consumers. RTD teas are thought to be convenient and they offer a healthier alternative to other beverages on the market. It’s thought that ready to drink teas are steadily increasing in popularity among consumers and sales are expected to grow. The market was thought to grow by 40 percent between 2011 and 2016.
To conclude, soft drink companies need to innovate to keep consumers happy. With the increase in consumers looking at healthier options, soft drinks companies need to innovate to match those lower-calorie drinks.
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