The beverage industry in Georgia witnessed a sharp decline in volume by 9.6% during Q4 2020, mainly owing to declines in hot drinks, soft drinks and alcoholic drinks, reveals GlobalData, a leading data and analytics company.
GlobalData’s report, ‘Georgia Beverages Consumption Trends and Forecasts Tracker, Q4 2020 (Dairy and Soy Drinks, Alcoholic Drinks, Soft Drinks and Hot Drinks)’ reveals that hot drinks, the largest sector in the beverages industry, saw volumes fall by 9.6%, driven down by falling volumes across hot coffee, hot tea, and other hot drinks categories.
Volumes in the soft drinks sector also declined by 9% in Q4 2020 compared to Q4 2019 with strong declines in carbonates, iced/RTD tea, and nectars categories.
Tanumoy Chattopadhyay, Consumer Analyst at GlobalData, says: “Healthy gains in squash/syrups and flavored water categories could not help offset losses in the overall soft drink sector.”
Dairy Drinks was the only sector in the beverages industry to post a gain in volume, led by growth in both fermented and white milk categories in the quarter.
Mr. Chattopadhyay concludes: “The much-anticipated COVID-19 vaccine plan kick-off is expected to bring some resurgence in economic activity, thus benefiting the country’s economy as well as consumption of beverages.”
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