LEMONADE DRINKS MARKET ANALYSIS
Lemonade is a sweetened lemon-flavored beverage. Varieties and combinations of lemonade drinks are available. Squash lemonade, natural lemon juice, lemon iced tea, and lemon juice mixed with raspberry, strawberry, cranberry, and other fruits are among the most popular lemonade flavors available in the market. Cloudy lemonade is popular in North America and South Asia. Cloudy lemonade is a homemade beverage made with lemon juice, water, and a sweetener such as sugar syrup, or honey. Lemonade has various health benefits including kidney stone prevention and weight loss assistance.
Market Dynamics
Rising public awareness that artificially flavored beverages have harmful effects is a major driver for the global lemonade drinks market's growth. Consumers are becoming more aware of the negative consequences of artificially flavored beverages, and as a result, they are shifting their beverage consumption preference to naturally flavored drinks, which is expected to drive the market growth.
Global lemonade drinks market is also expected to be driven by a trend in consumer preference for natural drinks with less calories, less sugar, and no artificial sweeteners. Natural beverages derived from natural fruits with nutritional and functional features are becoming increasingly popular among consumers. Consumers are looking forward to consume fewer calories and prefer natural drinks over artificial beverages. This is encouraging market players to develop new products with the goal of reducing sugar content. For instance, PepsiCo, witnessed a drop in carbonated beverage sales in 2017, as consumers' preferences shifted towards healthier beverages. Moreover, to address this issue, PepsiCo launched two new beverage brands on the market such as IZZE Fusions and Lemon Lemon. These beverages are lower in calories compared full-calorie sodas.
However, market growth is hindered due to increasing stringent government policies and levies on beverages in several countries. For instance, in 2019, the United States' federal government applied taxes on soda and carbonated beverages, resulting in a price increase for lemonade beverages, which is expected to hamper the market growth. In addition, substitution of lemonade with soft drinks, alcohol, and other drinking beverages is also expected to hamper the market growth during the forecast period.
Market Outlook
Among regions, North America is expected to dominate the lemonade drinks market during the forecast period, owing to rising awareness of health among consumers. The majority of individuals avoid sodas and other fizzy drinks because of their harmful side effects. Furthermore, market players in Europe and North America use a variety of strategies to meet consumer expectations, including new product launches. Due to new improvements in packaging styles by beverage manufacturers, competition in North America is projected to heat up in the forecast period.
Asia Pacific market is estimated to grow at the fastest rate during the forecast period. New flavors, innovative packaging, and clean labelling of lemonade drinks are being offered by players to increase regional demand for lemonade during the projected period in order to acquire the trust of health-conscious customers in Asia Pacific.
Key Players
Major players operating in the global lemonade drinks market include The Coca-Cola Company, PepsiCo Inc., Nestlé S.A, AriZona Beverages USA LLC, The Kraft Heinz Company, Hydro One Beverages, Huberts Lemonade, Me The Bees Lemonade, Simply Orange Juice Company, and Turkey Hill Dairy.
Moreover, to increase sales and to strengthen their position in the global lemonade drinks market, players in the industry are focusing on product launches and acquisitions, as significant development strategy. For instance, in October 2017, Turkey Hill has increased the volume of 22 drinks, including dairy iced tea, lemonade, and fruit punch beverages, by launching a half-gallon bottle.
Market Taxonomy
On the basis of type, global lemonade drinks market is segmented into:
On the basis of product type, global lemonade drinks market is segmented into:
On the basis of packaging type, global lemonade drinks market is segmented into:
On the basis of distribution channel, global lemonade drinks market is segmented into:
On the basis of region, global lemonade drinks market is segmented into:
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