28 Oct 2021
Posted in Consumer
Coca-Cola sales rejuvenate to pre-COVID-19 volumes as its grip on the market holds fast, says GlobalData
Following the release of Coca-Cola’s Q3 trading results;
Holly Inglis, Beverages Analyst at GlobalData, a leading data and analytics company, offers her view:
“Coca-Cola’s strong global revenue growth clearly demonstrates the post-COVID-19 rebound we are seeing in the non-alcoholic beverages category. GlobalData forecasts that the global soft drinks category will grow at a volume compound annual growth rate (CAGR) of 0.9%* between 2021-2026 If Coca-Cola continues to make gains into Q4 2021, the company has the potential to encourage consumption in the overall non-alcoholic drinks segment across the globe, which could see competition from other brands ramp up.
“Further, that all of Coca-Cola’s soft drinks categories saw a favorable uplift aligns with a trend highlighted by GlobalData whereby consumers are focusing on living healthier lifestyles. According to GlobalData’s Q3 2021 global consumer survey, 9% of consumers stated that they regularly buy plant-based dairy alternatives, while 12% said the same for juices and squashes, and 21% for milk – all beverages that are seen to be healthy.
“The company’s sustainability initiatives are also likely to encourage growth. Its launch of a bPET bottle, made from 100% plant-based plastic, aligns with the 31% of global consumers that stated products made from sustainable or renewable sources are extremely important. These moves promote a positive brand image and take steps towards an inevitably ‘greener’ future as more markets introduce climate action policies.”