The global soft drink category is forecast to grow by 2.4% over the next five years with the MENA region growing at 4.3% and accounting for 5% of the total global retail value by 2021. Health and Wellness is the overarching trend dictating soft drink sales worldwide. Thanks to changing consumer preferences, iced teas, sports drinks, functional juices and flavored waters are growing at a fast pace.
Globally, the hot drinks category is forecasted to grow at 2.9% over the next five years in constant retail value terms. By contrast, The MENA region will account for 7% of the total global retail value by 2021, growing at an impressive 5.2% over the same time period.Specialist coffee is a fast growing category in nearly every market targeting high income consumers in urban areas. The MENA region is growing ahead of the global average due to its strong out-of-home eating culture.
Both in the MENA region and globally, the hot drinks segment is being driven by a focus on flavor, quality and luxury in addition to functionality and related health benefits.
*Source: Euromonitor International