According to the latest report published by Credence Research, Inc. “Global Lemonade Drinks Market – Growth, Future Prospects and Competitive Analysis, 2018-2026,” the global lemonade drinks market expanding at a CAGR of 6.3% from 2018 to 2026.
The global lemonade drinks market, expected to witness substantial growth rate of 6.3% from 2018 to 2026. Global market consolidated with major players such as PepsiCo, The Coca-Cola Company, Sunny Delight Beverages, Britvic, Tampico Beverages, Dr Pepper Snapple and The Kraft Heinz Company. Other prominent players present in the market are AriZona Beverages, Bisleri International, Hydro One Beverages, Newman’s Own, Old Orchard Brands, Parle Agro, Turkey Hill Dairy, PRAIRIE FARMS DAIRY and White Rock Beverages among others.
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Lemonade drinks are available in different types and combination. The most favored lemonade types found in the consumer market are squashed lemonade, natural lemon juice, lemon iced tea, lemon juice in combination with raspberry, strawberry, cranberry etc. The recent development in the lemonade segment has been targeted by the beer brewing industry in order to manufacture Radler, made of 50% beer and 50% lemon juice, and has achieved success to attract the female and grown-up population in North America region. The market leaders such as Coca-Cola company, PepsiCo, and Dr. Pepper Snapple Group, Inc. has tremendous influence in the global lemonade drinks market. The factors contributing to their market dominance are excellent product marketing, well-established sales channel and growing online retail segment. According to Information Resource, Inc. (IRI) 2016 report Simply Lemonade, a Coca-Cola brand dominated the lemonade market in the United States. PepsiCo had launched two lemonade products in 2017 such as IZZE Fusion lemon lime and Lemon Lemon to cater to the changing consumer demand for healthy beverages.
There is a burgeoning consumer demand for natural beverages made from natural fruits having healthy and functional properties. Consumers are looking forward towards lower calorie intake and opting for natural drinks over carbonated drinks. This factor is influencing the manufacturers for new product development with scope of sugar reduction in the products. For instance, PepsiCo witnessed dip in carbonated beverage sales in 2017, as consumer preference are tilting towards healthier beverages. To tackle this situation the company introduced two beverage brands in the market. The brands marketed as ‘next-generation beverages’ having lower calorie, less sugar and no artificial sweeting agents as compared to other carbonized drinks of PepsiCo. Beverage companies are spending on innovation, research and development to offer healthier products with wide range to the consumers. PepsiCo’s investment in R&D has increased 45% since 2011, which paid off with the increase in revenue generation for Frito Lay and beverage portfolio in 2017. Coca Cola launched Minute Maid Sparkling to its product portfolio, positioned separately to cater the demands of consumers inclined towards healthy beverages. Hence, growing demand for healthier drinks has resulted in the market entry of number of products, consequently driving the global lemonade market. However, increasing prices of lemonade drinks and soda beverages is likely to hamper market growth in upcoming years.