Sin Tax in Food & Beverages to Be Introduced in New Countries, Expects Euromonitor in Its Report Available at MarketPublishers.com17 Jan 2017 • by Natalie Aster
LONDON – At present, the prevalence of diet-related diseases and obesity is one the rise, and the public awareness over unhealthy drinks and food is also growing. Sin taxes represent one of possible remedies. In 2016, for instance, an excise tax of minimum 20% on all sugar-sweetened beverages was recommended by the WHO.
At present, sugar in soft drinks is one of major targets. New food and drink taxes will be implemented in 2017 and 2018. Currently, there are 19 countries where such taxes are implemented, and more than a half of these countries introduced the taxes over the last 10 years.
When it comes to the EU countries, the soft drinks tax revenues ranges from EUR 89 million to EUR 312 million.
Still, sin taxes are ineffective at reducing consumption of the taxed items at a long term perspective. There is a direct link between a size of the tax and duration of its effect on sales.
100% is not included in the soft drinks taxation, and only one country may include it in the upcoming years.
In-demand research report “Sin Tax in Food and Beverages - Strategies, Outcomes and Learnings” drawn up by Euromonitor International Ltd. offers a comprehensive discussion of the worldwide nutrition market. The study draws up a detailed picture of the global marketplace.
It estimates a sizing of this market and describes its shape. The report sheds light on growth sectors and outlines factors driving change in this space. The research study investigates major trends and explores burning issues.
It focuses on new product developments and limeligts packaging innovations. The research report describes distributions trends and covers pricing issues. Future projections for the marketplace are on hand in the study, too.
More insightful reports by Euromonitor can be found at its page.