According to a new report produced by Oxford Economics, £11bn is contributed to the UK economy and over 340,000 jobs are created by the soft drinks industry.
Commissioned by the British Soft Drinks Association, the review looked into the impact this industry has on the overall economy, including sectors such as hospitality, retail and supply chain. As this is something that has never been investigated in full before, the study has demonstrated what a significant impact the industry has on the UK economy and on the hospitality and retail areas in particular.
The data used in the survey included the Office for National Statistics’ Annual Business Survey, which detailed that the sector pays £5.6bn in wages through the direct employment of around 15,000 people by soft drinks manufacturers.
Benefits to the British economy
The British economy benefits from £4.5bn in retail sales of soft drinks, while £2.3bn is derived from soft drink sales in bars, restaurants and hotels. Over 91,000 jobs are supported by the retail sector, including companies such as a draught soft drink supplier, while other sectors are responsible for employing nearly 128,000 staff.
Reduced calorie intake from soft drinks
This economic report was revealed in Westminster at an event that confirmed the soft drinks industry is helping to reduce the calorie intake of its consumers. Data produced by Kantar Worldpanel indicated that calories had been reduced by 7.5 per cent in the soft drinks market between January 2012 and January 2015.
Calorie reduction has been helped by companies such as http://empireuk.com redeveloping products, reducing pack sizes and reformulating their products. This has been further enhanced by increased advertising of soft drinks containing few or no calories.
As reported by the British Soft Drinks Association, the impact this sector is having on the economy is extensive, with 100 jobs per parliamentary constituency being supported by this growing industry.
Brecon and Radnorshire MP Chris Davies commented on these latest findings, saying that while they were not surprising, they were welcomed in confirming just what this division is bringing to the UK economy. He went on to praise the responsibility of those within the industry for their continued efforts to decrease the number of calories consumed through soft drinks.