Latin America market was valued at USD 3.05 billion in 2021 and is expected to reach USD 4.23 billion by 2027 to grow at 6.76% CAGR from 2022 to 2027
Non-alcoholic concentrated syrup popularly known as squash are ready-to-serve types of drink that include fruit juice, water, and sugar or sugar substitute. In the undiluted state, the syrup is sweet, so it is basically formulated to be mixed primarily with water before drinking. Thus, it can be diluted in any amount to match the taste of consumers, usually at a ratio of part squash to four or five-part water.The syrup is driven by a few major factors such as high demand and popularity of ready-to-serve drinks, changing preferences from carbonated to healthy soft drinks, rapid urbanization, and busy lifestyles, with the changing pace of consumption. However, there are a few factors that are restraining, such as the presence of numerous soft drink alternatives and restricted demand in the niche soft drink market. The squashes/syrup market has good opportunities in the soft drink segment, such as serving these drinks in the catering industry through hotels, railways, and airports.
Segmentation
on the basis of
Type
Distribution Channel
On the basis of Type
Fruit Squash
Vegetable Squash
Herbs & Spices Squash
On the basis of the Distribution Channel,
Specialty Stores,
Online Stores,
Super Markets/ Hyper Markets,
Convenience Store,
Departmental Stores
Argentina
Brazil
Mexico
Consumption of these drinks is growing at a fast rate in the developing countries of Latin America. Numerous small and big enterprises are operating to serve such niche markets. The growth opportunity is evident in the developing regions such as Mexico and Argentina due to the high population in these countries. This provides the basis for many big food processing companies to enter such a huge market.
Keyplayers
Pioma Industries Pvt. Ltd
Britvic plc
Humdard Laboratory
P&N Beverages Pvt. Ltd
Golden Circle Ltd.
Unilever Ltd
Prigat Pvt Ltd Nichols plc
Suntory Holdings Limited
Coca-Cola Company
COTTEE’S Pvt. Ltd
Bickford's Australia Pvt. Ltd
Assis Pvt Ltd
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