Asia-Pacific: Soft Drink Market 2024

Soft Drink Market Size in Asia-Pacific

In 2021, the Asia-Pacific soft drink market increased by 0.3% to $X, rising for the seventh consecutive year after two years of decline. The market value increased at an average annual rate of +1.6% over the period from 2012 to 2021; however, the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. Over the period under review, the market reached the peak level in 2021 and is expected to retain growth in the immediate term.

Soft Drink Production in Asia-Pacific

In value terms, soft drink production dropped to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.6% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in 2015 when the production volume increased by 11%. The level of production peaked at $X in 2020, and then shrank in the following year.

Soft Drink Exports

Exports in Asia-Pacific

In 2021, shipments abroad of soft drinks decreased by -7.2% to X litres for the first time since 2018, thus ending a two-year rising trend. Total exports indicated a resilient expansion from 2012 to 2021: its volume increased at an average annual rate of +8.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +13.2% against 2018 indices. The pace of growth was the most pronounced in 2016 with an increase of 24% against the previous year. Over the period under review, the exports hit record highs at X litres in 2020, and then fell in the following year.

In value terms, soft drink exports expanded notably to $X in 2021. Total exports indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +7.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2014 with an increase of 15%. The level of export peaked in 2021 and is likely to see gradual growth in the near future.

Exports by Country

In 2021, Thailand (X litres) was the key exporter of soft drinks, generating 40% of total exports. South Korea (X litres) took the second position in the ranking, followed by Malaysia (X litres), China (X litres), Lao People's Democratic Republic (X litres) and Taiwan (Chinese) (X litres). All these countries together took approx. 39% share of total exports. The following exporters - Japan (X litres), New Zealand (X litres), Hong Kong SAR (X litres), Vietnam (X litres), Indonesia (X litres), Bangladesh (X litres) and Nepal (X litres) - together made up 16% of total exports.

From 2012 to 2021, average annual rates of growth with regard to soft drink exports from Thailand stood at +14.0%. At the same time, Lao People's Democratic Republic (+30.5%), Bangladesh (+18.3%), Japan (+15.0%), New Zealand (+12.9%), Vietnam (+11.9%), South Korea (+6.4%), Indonesia (+6.1%), Hong Kong SAR (+4.7%), Taiwan (Chinese) (+4.1%), Malaysia (+3.5%), China (+3.2%) and Nepal (+1.8%) displayed positive paces of growth. Moreover, Lao People's Democratic Republic emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +30.5% from 2012-2021. From 2012 to 2021, the share of Thailand and Lao People's Democratic Republic increased by +14 and +4.6 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X) remains the largest soft drink supplier in Asia-Pacific, comprising 35% of total exports. The second position in the ranking was taken by South Korea ($X), with a 13% share of total exports. It was followed by Japan, with an 8.4% share.

In Thailand, soft drink exports expanded at an average annual rate of +10.2% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: South Korea (+8.6% per year) and Japan (+10.4% per year).

Export Prices by Country

In 2021, the export price in Asia-Pacific amounted to $X per litre, increasing by 22% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. Over the period under review, the export prices hit record highs at $X per litre in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Japan ($X per litre), while Bangladesh ($X per litre) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+2.7%), while the other leaders experienced more modest paces of growth.

Soft Drink Imports

Imports in Asia-Pacific

In 2021, purchases abroad of soft drinks increased by 38% to X litres for the first time since 2018, thus ending a two-year declining trend. Over the period under review, imports enjoyed a resilient expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, soft drink imports skyrocketed to $X in 2021. In general, imports recorded a buoyant increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Vietnam (X litres), China (X litres), Cambodia (X litres), Singapore (X litres), Hong Kong SAR (X litres), Australia (X litres) and India (X litres) represented roughly 70% of total imports in 2021. The following importers - Indonesia (X litres), Japan (X litres), the Philippines (X litres), Lao People's Democratic Republic (X litres), New Zealand (X litres) and South Korea (X litres) - together made up 17% of total imports.

From 2012 to 2021, the biggest increases were in Vietnam (with a CAGR of +49.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Vietnam ($X) and Cambodia ($X) constituted the countries with the highest levels of imports in 2021, with a combined 48% share of total imports.

Vietnam, with a CAGR of +49.8%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Asia-Pacific stood at $X per litre in 2021, picking up by 1.9% against the previous year. Over the last nine years, it increased at an average annual rate of +1.2%. The most prominent rate of growth was recorded in 2018 when the import price increased by 8.2% against the previous year. Over the period under review, import prices attained the maximum in 2021 and is expected to retain growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was Japan ($X per litre), while Singapore ($X per litre) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+7.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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