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Zenith Report Flavoured and Functional Water 2013
STRATEGY & MANAGEMENT MERGERS & ACQUISITIONS COMMERCIAL & MARKET OPERATIONS & TECHNICAL WATER & GEOTHERMAL ENVIRONMENT & CARBON PACKAGING & DISTRIBUTION
2
CONTENTS
Š Zenith International Ltd 2013
1:
Introduction
4
2:
Scope of the report
5
3:
Definitions
7
4:
Functional ingredients
8
5:
The rise of Stevia
10
6:
Position in the market
12
7:
Category drivers
17
8:
Global trends: Growth, volume, value and pcc
20
9:
Global trends: The changing shape of the market
37
10: Regional overview
48
11: Manufacturers and brands
77
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3
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12: Global innovations
87
13: Country case studies: Success stories
93
14: Country case studies: Markets in decline
105
15: Market opportunities
115
16: Summary and forecasts
122
17: Brand profiles
128
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4
Global volume (mln litres)
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
Flavoured
Xxx
xxx
Xxx
Xxx
Xxx
Xxx
Xxx
Xxx
Xxx
Xxx
Xxx
Flavoured - Still
Xxx
Xxx
Xxx
Xxx
Xxx
Xxx
Xxx
Xxx
Xxx
Xxx
Xxx
Flavoured Sweetened - Still
Xxx
Xxx
Xxx
Xxx
Xxx
Xxx
Xxx
Xxx
Xxx
Xxx
Xxx
Flavoured Unsweetened - Still
Xxx
Xxx
Xxx
Xxx
Xxx
Xxx
Xxx
Xxx
Xxx
Xxx
Xxx
Flavoured - Sparkling
Xxx
Xxx
Xxx
Xxx
xxx
Xxx
Xxx
Xxx
Xxx
Xxx
Xxx
Flavoured Sweetened - Sparkling
Xxx
Xxx
Xxx
Xxx
Xxx
Xxx
Xxx
Xxx
Xxx
Xxx
Xxx
Flavoured Unsweetened - Sparkling
Xxx
Xxx
Xxx
Xxx
Xxx
Xxx
Xxx
Xxx
Xxx
Xxx
Xxx
Functional
xxx
Xxx
Xxx
Xxx
Xxx
Xxx
Xxx
Xxx
Xxx
Xxx
xxx
Functional - Still
Xxx
xxx
Xxx
Xxx
Xxx
Xxx
Xxx
Xxx
Xxx
Xxx
xxx
Functional Sweetened - Still
Xxx
Xxx
Xxx
Xxx
Xxx
Xxx
Xxx
Xxx
Xxx
Xxx
xxx
Functional Unsweetened - Still
Xxx
Xxx
Xxx
Xxx
Xxx
Xxx
Xxx
Xxx
Xxx
xxx
xxx
Functional Sparkling
Xxx
Xxx
Xxx
Xxx
Xxx
Xxx
Xxx
Xxx
Xxx
Xxx
xxx
Functional Sweetened - Sparkling
Xxx
Xxx
Xxx
Xxx
Xxx
Xxx
Xxx
Xxx
Xxx
Xxx
xxx
Functional Unsweetened - Sparkling
Xxx
Xxx
Xxx
xxx
Xxx
Xxx
Xxx
Xxx
Xxx
Xxx
xxx
ALL SECTORS
xxx
Xxx
xxx
Xxx
xxx
xxx
xxx
xxx
xxx
xxx
xxx
© Zenith International Ltd 2013
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5
Market value of flavoured and functional water by region Value (US$ million) 3000
2500
2000
Region A Region B Region C
1500
Region D Region E Region F
1000
Region G
500
0 2008
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2009
2010
2011
2012
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6
Flavoured
Functional
Flavoured and functional still
Flavoured and functional sparkling
All Sectors
XXX
xxx
xxx
xxx
xxx
xxx
XXX
xxx
xxx
xxx
xxx
xxx
XXX
xxx
xxx
xxx
xxx
xxx
XXX
xxx
xxx
xxx
xxx
xxx
XXX
xxx
xxx
xxx
xxx
xxx
XXX
xxx
xxx
xxx
xxx
xxx
Global
xxx
xxx
xxx
xxx
xxx
Market volume 2012 (mln litres)
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7
Market Share by region, 2012
6%
24%
Region A Region B 36%
Region C
2%
Region D Region E Region F
19%
13%
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Total Market value = XXX
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8
Top 8 fastest growing countries
Volume 2012 (million litres)
Volume CAGR % 2010-12
PCC 2012 (litres)
XXX
Xxx
xxx
xxx
XXX
Xxx
Xxx
xxx
XXX
Xxx
Xxx
xxx
XXX
Xxx
Xxx
xxx
XXX
Xxx
Xxx
xxx
XXX
Xxx
Xxx
xxx
XXX
Xxx
Xxx
xxx
XXX
Xxx
xxx
xxx
Top 8 fastest declining countries
Volume 2012 (million litres)
Volume CAGR % 2010-12
PCC 2012 (litres)
XXX
Xxx
xxx
xxx
XXX
Xxx
xxx
xxx
XXX
Xxx
xxx
xxx
XXX
Xxx
xxx
xxx
XXX
Xxx
xxx
xxx
XXX
Xxx
xxx
xxx
XXX
Xxx
xxx
xxx
XXX
xxx
xxx
xxx
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9
Market volume of leading brand owners, 2012 Company J Company I Company H Company G Company F Flavoured
Company E
Functional
Company D Company C Company B Company A 0
500
1000
1500
2000
2500
3000
3500
4000
Million litres
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10
All Sectors
Flavoured
Flavoured still
Flavoured sparkling
Functional
Functional still
Functional sparkling
Company A
Xxx
xxx
xxx
xxx
xxx
xxx
xxx
Company B
Xxx
xxx
xxx
xxx
xxx
xxx
xxx
Company C
Xxx
xxx
xxx
xxx
xxx
xxx
xxx
Company D
Xxx
xxx
xxx
xxx
xxx
xxx
xxx
Company E
Xxx
xxx
xxx
xxx
xxx
xxx
xxx
Company F
Xxx
xxx
xxx
xxx
xxx
xxx
xxx
Company G
Xxx
xxx
xxx
xxx
xxx
xxx
xxx
Company H
Xxx
xxx
xxx
xxx
xxx
xxx
xxx
Company I
Xxx
xxx
xxx
xxx
xxx
xxx
xxx
Company J
xxx
xxx
xxx
xxx
xxx
xxx
xxx
Market value (US$m)
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11
14 MARKETS IN DECLINE COUNTRY X – ECONOMIC WOES Commentary
Commentary
Commentary
Commentary
Commentary
© Zenith International Ltd 2013
zenithinternational specialist consultants to the food and drink industries worldwide
12
Market volume (mln litres) TOTAL
Market growth (%) TOTAL
Value per litre (local currency) TOTAL
Per capita consumption (litres) TOTAL
Š Zenith International Ltd 2013
2008
2009
2010
2011
2012
xxx
xxx
xxx
xxx
Xxx
2008
2009
2010
2011
2012
Xxx
xxx
xxx
xxx
xxx
2008
2009
2010
2011
2012
xxx
xxx
xxx
xxx
Xxx
2008
2009
2010
2011
2012
xxx
xxx
xxx
xxx
xxx
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13
Volume (mln litres) 250 210
Market Volume
1.08 192
200
Value Per Litre (local currency)
VPL (euros)
1.06
1.06 176
172
170
1.04 1.02
150
1.00
1.01
1.02
1.00 100
0.98
0.97
0.96
50
0.94 0
0.92 2008
2009
2010
2011
2012
Market Growth 2008
2009
2010
2009
2011
2012
2011
2012
PCC (litres) 3.3 3.5
3.0 3.0
-2.0%
-1.2% -2.3%
-4.0%
2010
Per Capita Consumption (litres)
0.0%
2.9
2.8
2.7
2010
2011
2012
2.5 2.0
-6.0%
1.5
-8.0% -8.6%
-10.0% -12.0% -14.0%
2008
-12.0%
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-8.3%
1.0 0.5 0.0 2008
2009
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14
Š Zenith International Ltd 2013
zenithinternational specialist consultants to the food and drink industries worldwide
zenithinternational specialist consultants to the food and drink industries worldwide We hope you found this report insightful. Please help us improve our reports further by providing your feedback here For a tailor made study specific to your requirements, please telephone Simon Redwood on +44 (0)1225 327900 or email sredwood@zenithinternational.com
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Zenith also offers specific news services, including a dedicated newsletter for the functional drinks industry and a bottled water newsletter, plus online data resources and continuous market monitoring. Zenith's associated company, Foodbev Media, also publishes several highly respected industry magazines. Our consulting activities are wide ranging. These include tailor made market studies, strategic advice, acquisitions and due diligence, business plans and cost modelling through to plant construction and operational efficiency, environmental audits and groundwater development. To discuss any of Zenith’s services, please telephone our head office on +44 (0)1225 327900 or visit www.zenithinternational.com
STRATEGY & MANAGEMENT MERGERS & ACQUISITIONS COMMERCIAL & MARKET OPERATIONS & TECHNICAL WATER & GEOTHERMAL ENVIRONMENT & CARBON PACKAGING & DISTRIBUTION
zenithinternational specialist consultants to the food and drink industries worldwide
Zenith tracks developments across flavoured and functional water markets worldwide. For more information on the contents of this report or to enquire about further information on Zenith’s products and services within these segments, please contact:
Simon Redwood Market Analyst sredwood@zenithinternational.com
Or telephone Zenith International head office on 0044 (0)1225 327900. www.zenithinternational.com
STRATEGY & MANAGEMENT MERGERS & ACQUISITIONS COMMERCIAL & MARKET OPERATIONS & TECHNICAL WATER & GEOTHERMAL ENVIRONMENT & CARBON PACKAGING & DISTRIBUTION