21 Jul 2021
Posted in Consumer
Coca-Cola’s positive Q2 results emphasise light at the end of the tunnel for soft drinks, says GlobalData
Following Coca-Cola’s announcement that its Q2-2021 net revenues grew by 42% globally for its beverage’s performance;
Holly Inglis, Beverages Analyst at GlobalData, a leading data and analytics company, offers her view:
“Success for Coca-Cola across all regions in Q2-2021 clearly emphasises a step in the right direction for the company to achieve pre-COVID-19 volumes. Not only does growth reinforce the company’s stable market position, but highlights recovery of the non-alcoholic beverages market across many parts of the world – although countries such as India continue to be impacted by COVID-19.
Coca-Cola’s 14% growth in Q2-2021 for sparkling soft drinks is no easy feat in a category that has continually seen a downward trend in recent years. According to GlobalData’s latest survey (Q2-2021), one in four (38%) of consumers are actively trying to reduce their sugar consumption, which has created a challenging landscape for soft drink producers. Strong brand recognition, alongside continued innovations to core brands such as Coca-Cola Zero Sugar, have helped stimulate this growth.
“For the remainder of 2021, the outlook is positive for both Coca-Cola, and the general non-alcoholic drinks market. However, revival will remain in the hands of how COVID-19 develops. Product innovations and maintaining a strong brand image is vital for long-term success and to maintain consumer attractiveness”.