LIST OF CONTENTS AND TABLES

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2 LIST OF CONTENTS AND TABLES Bottled Water in South Korea - Category analysis... 1 Headlines... 1 Trends... 1 Competitive Landscape... 2 Prospects... 2 Category Data... 3 Institutional Bottled Water Sales... 3 Table 1 Sales of Bottled Water to Institutional Channel Table 2 Off-trade Sales of Bottled Water: Volume Table 3 Off-trade Sales of Bottled Water: Value Table 4 Off-trade Sales of Bottled Water: % Volume Growth Table 5 Off-trade Sales of Bottled Water: % Value Growth Table 6 Company Shares of Bottled Water by Off-trade Volume Table 7 Brand Shares of Bottled Water by Off-trade Volume Table 8 Company Shares of Bottled Water by Off-trade Value Table 9 Brand Shares of Bottled Water by Off-trade Value Table 10 Forecast Off-trade Sales of Bottled Water: Volume Table 11 Forecast Off-trade Sales of Bottled Water: Value Table 12 Forecast Off-trade Sales of Bottled Water: % Volume Growth Table 13 Forecast Off-trade Sales of Bottled Water: % Value Growth Bottled Water in South Korea - Company Profiles... 9 Dong-a Otsuka Co Ltd in Soft Drinks (south Korea)... 9 Strategic Direction... 9 Key Facts... 9 Summary 1 Dong-A Otsuka Co Ltd: Key Facts... 9 Summary 2 Dong-A Otsuka Co Ltd: Operational Indicators... 9 Company Background... 9 Production Competitive Positioning Summary 3 Dong-A Otsuka Co Ltd: Competitive Position Haitai Beverage Co Ltd in Soft Drinks (south Korea) Strategic Direction Key Facts Summary 4 Haitai Beverage Co Ltd: Key Facts Summary 5 Haitai Beverage Co Ltd: Operational Indicators Company Background Production Summary 6 Haitai Beverage Co Ltd: Production Statistics Competitive Positioning Summary 7 Haitai Beverage Co Ltd: Competitive Position Lotte Chilsung Beverage Co Ltd in Soft Drinks (south Korea) Strategic Direction... 13

3 Key Facts Summary 8 Lotte Chilsung Beverage Co Ltd: Key Facts Summary 9 Lotte Chilsung Beverage Co Ltd: Operational Indicators Company Background Production Summary 10 Lotte Chilsung Beverage Co Ltd: Production Statistics Competitive Positioning Summary 11 Lotte Chilsung Beverage Co Ltd: Competitive Position Soft Drinks in South Korea - Industry Overview Executive Summary Premiumisation Leads Healthy Growth Health and Wellness Continues To Attract Consumers Two Leading Companies Maintain Positions sparkling Becomes Popular Soft Drinks Will See Rapid Growth But Rapid Change Key Trends and Developments Premiumisation Continues To Drive Growth sparkling Well Received by South Korean Consumers Leading Players Remain in Strong Positions Specialist Coffee Shops the Entry Channel for Premium Soft Drinks Marketing Strategies Through Smartphones Become Active Market Data Table 14 Off-trade vs On-trade Sales of Soft Drinks (as sold) by Channel: Volume Table 15 Off-trade vs On-trade Sales of Soft Drinks (as sold) by Channel: % Volume Growth Table 16 Off-trade vs On-trade Sales of Soft Drinks by Channel: Value Table 17 Off-trade vs On-trade Sales of Soft Drinks by Channel: % Value Growth Table 18 Off-trade vs On-trade Sales of Soft Drinks (as sold) by Category: Volume Table 19 Off-trade vs On-trade Sales of Soft Drinks (as sold) by Category: % Volume Table 20 Off-trade vs On-trade Sales of Soft Drinks by Category: Value Table 21 Off-trade vs On-trade Sales of Soft Drinks by Category: % Value Table 22 Off-trade Sales of Soft Drinks (as sold) by Category: Volume Table 23 Off-trade Sales of Soft Drinks (as sold) by Category: % Volume Growth Table 24 Off-trade Sales of Soft Drinks by Category: Value Table 25 Off-trade Sales of Soft Drinks by Category: % Value Growth Table 26 Company Shares of Off-trade Soft Drinks (as sold) by Volume Table 27 Brand Shares of Off-trade Soft Drinks (as sold) by Volume Table 28 Company Shares of Off-trade Soft Drinks (RTD) by Volume

4 Table 29 Brand Shares of Off-trade Soft Drinks (RTD) by Volume Table 30 Company Shares of Off-trade Soft Drinks by Value Table 31 Brand Shares of Off-trade Soft Drinks by Value Table 32 Off-trade Sales of Soft Drinks by Category and Distribution Format: % Analysis Table 33 Forecast Off-trade vs On-trade Sales of Soft Drinks (as sold) by Channel: Volume Table 34 Forecast Off-trade vs On-trade Sales of Soft Drinks (as sold) by Channel: % Volume Growth Table 35 Forecast Off-trade vs On-trade Sales of Soft Drinks by Channel: Value Table 36 Forecast Off-trade vs On-trade Sales of Soft Drinks by Channel: % Value Growth Table 37 Forecast Off-trade Sales of Soft Drinks (as sold) by Category: Volume Table 38 Forecast Off-trade Sales of Soft Drinks (as sold) by Category: % Volume Growth Table 39 Forecast Off-trade Sales of Soft Drinks by Category: Value Table 40 Forecast Off-trade Sales of Soft Drinks by Category: % Value Growth Appendix Fountain Sales in South Korea Data Table 41 Off-trade vs On-trade Fountain Sales of Soft Drinks: Volume Table 42 Off-trade vs On-trade Fountain Sales of Soft Drinks: % Volume Growth Table 43 Off-trade vs On-trade Fountain Sales of Carbonates: Volume Table 44 Off-trade vs On-trade Fountain Sales of Carbonates: % Volume Growth Table 45 Forecast Off-trade vs On-trade Fountain Sales of Soft Drinks: Volume Table 46 Forecast Off-trade vs On-trade Fountain Sales of Soft Drinks: % Volume Growth Table 47 Forecast Off-trade vs On-trade Fountain Sales of Carbonates: Volume Table 48 Forecast Off-trade vs On-trade Fountain Sales of Carbonates: % Volume Growth Definitions Summary 12 Research Sources... 37

5 BOTTLED WATER IN SOUTH KOREA - CATEGORY ANALYSIS HEADLINES In 2010, bottled water sees 9% total volume growth The health and wellness trend continues to drive premium bottled water growth in South Korea Carbonated bottled water records the strongest total volume growth at 26% in 2010 Average unit prices increase by 1% in 2010 Nong Shim Co Ltd continues to lead bottled water sales in value terms with a 17% off-trade value share Bottled water is expected to grow at a CAGR of 6% in total volume terms over the forecast period TRENDS In 2010, bottled water continued to register strong growth, rising by 9% in total volume terms, mainly thanks to the good performance of still bottled water and carbonated bottled water. While more South Korean consumers are becoming aware of the importance of water consumption, premium bottled water such as deep sea water and imported bottled water, from various countries, including Evian (Groupe Danone) and Fiji by Fiji Water LLC performed well. Still bottled water recorded 9% growth in total volume terms. Still bottled water is considered an important aspect of the non-alcoholic drinks industry. Historically, the major factor driving growth was consumers distrust of tap water. During 2009, more South Korean consumers switched to bottled water from RTD tea which is cheaper in terms of unit price. With the economic recovery in 2010, more South Korean consumers have started to look for premium bottled water with health claims, for example those that include the minerals of specific regions. In September 2010, the US premium water brand, Fiji by Fiji Water LLC was introduced in South Korea and it has shown very healthy growth in The average unit price of bottled water as a whole rose by 1% in 2010, although the unit price of still bottled water increased by 3%. This is because premiumisation strongly impacted this category; the Evian brand increased by 62% in off-trade sales value in 2010, and the premium bottled water Fiji was introduced in As increasing numbers of South Korean consumers have been to Europe and the US, the premium still bottled water category continued to grow, supported by those consumers. This trend contributed to the rise in unit price. Carbonated bottled water showed strong growth in Lotte Chilsung Beverage Co Ltd relaunched Trevi, which targets female consumers, with a special bottle design in As the leading company in soft drinks, Lotte Chilsung entered carbonated bottled water with a positive marketing campaign for its Trevi brand; this category is expected to increase rapidly. Total volume sales of carbonated bottled water increased at a CAGR of 38% over the review period and they are expected to increase at a CAGR of 14% during the forecast period. When compared to European countries and neighbouring Japan, the carbonated bottled water category in South Korea still very small, thus it has the potential to grow more.

6 Functional bottled water continued to see a decline, falling by 8% in total volume terms due to the discontinuation of water containing amino acids. As water containing vitamins replaced amino acids water, vitamin water showed strong growth. Coca-Cola Korea Co introduced Glacéau VitaminWater in 2009, which stimulated some interest in the category. This brand registered 90% growth in COMPETITIVE LANDSCAPE In off-trade value terms, Nong Shim Co Ltd s brand Cheju Samdasoo led the bottled water category with a share of 17% in Cheju Samdasoo is produced by the Jeju Provincial Development Corp in collaboration with Nong Shim and has maintained its leadership position as a result of its pure and clean positioning, using the clean image of Jeju Island during product promotion. In the context of the sweltering summer weather, the brand s sales soared. In August 2010, its orders exceeded 2,600 tonnes per day, even though the average production capability was 1.8 million litres. In addition, Jeju Samdasoo was designated the official still bottled water for the 2010 G20 Seoul Summit. PROSPECTS The bottled water category is expected to see sales rise at a CAGR of 6% in total volume terms over the forecast period. Premium water that includes minerals or is sourced from special locations, carbonated bottled water, and vitamin water will gain popularity among highincome consumers and young consumers who are sensitive changing trends. Young consumers have usually experienced foreign brands through travel or study abroad. As a result, they are familiar with imported premium bottled water brands, and some of them seek out certain brands in South Korea. This consumer base will support the expansion of premium imported brands in the domestic environment.

7 CATEGORY DATA Institutional Bottled Water Sales Institutional bottled water sales showed growth of 2% during The penetration of bottled water in institutions such as hospitals, universities and organisations has increased as growing numbers of consumers consider tap water to be unsafe in South Korea. Most institutional bottled water is ordered through contractors that offer cooling systems, which are supplied at the time of the water delivery. However, the growth of institutional bottled water sales is slowing as this segment has reached a level of maturity and the barrier to entry is high as the contractors are limited and they have strong distribution networks based on wellestablished relationships with institutions. Table 1 Sales of Bottled Water to Institutional Channel Million litres Sales % growth store checks, trade interviews Table 2 Off-trade Sales of Bottled Water: Volume million litres Carbonated Bottled Water Flavoured Bottled Water Functional Bottled Water Still Bottled Water Bottled Water

8 Table 3 Off-trade Sales of Bottled Water: Value Won billion Carbonated Bottled Water Flavoured Bottled Water Functional Bottled Water Still Bottled Water Bottled Water Table 4 Off-trade Sales of Bottled Water: % Volume Growth % volume growth Carbonated Bottled Water Flavoured Bottled Water Functional Bottled Water Still Bottled Water Bottled Water 2009/ CAGR 2005/10 TOTAL Table 5 Off-trade Sales of Bottled Water: % Value Growth % current value growth Carbonated Bottled Water Flavoured Bottled Water Functional Bottled Water Still Bottled Water Bottled Water 2009/ CAGR 2005/10 TOTAL Table 6 Company Shares of Bottled Water by Off-trade Volume % off-trade volume Company

9 Total Table 7 Brand Shares of Bottled Water by Off-trade Volume % off-trade volume Brand Company Total

10 Table 8 Company Shares of Bottled Water by Off-trade Value % off-trade value rsp Company Total Table 9 Brand Shares of Bottled Water by Off-trade Value % off-trade value rsp Brand Company

11 Total Table 10 Forecast Off-trade Sales of Bottled Water: Volume million litres Carbonated Bottled Water Flavoured Bottled Water Functional Bottled Water Still Bottled Water Bottled Water Euromonitor International from trade associations, trade press, company research, trade interviews, trade sources Table 11 Forecast Off-trade Sales of Bottled Water: Value Won billion Carbonated Bottled Water Flavoured Bottled Water Functional Bottled Water Still Bottled Water Bottled Water Euromonitor International from trade associations, trade press, company research, trade interviews, trade sources Table 12 Forecast Off-trade Sales of Bottled Water: % Volume Growth

12 % volume growth Carbonated Bottled Water Flavoured Bottled Water Functional Bottled Water Still Bottled Water Bottled Water 2014/ CAGR 2010/15 TOTAL Euromonitor International from trade associations, trade press, company research, trade interviews, trade sources Table 13 Forecast Off-trade Sales of Bottled Water: % Value Growth % constant value growth Carbonated Bottled Water Flavoured Bottled Water Functional Bottled Water Still Bottled Water Bottled Water CAGR 2010/15 TOTAL Euromonitor International from trade associations, trade press, company research, trade interviews, trade sources

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20 SOFT DRINKS IN SOUTH KOREA - INDUSTRY OVERVIEW EXECUTIVE SUMMARY Premiumisation Leads Healthy Growth In 2010, soft drinks experienced healthy growth, registering a 6% increase in off-trade value sales and a 5% increase in off-trade volume sales, thanks to a premiumisation trend, especially within bottled water, fruit/vegetable juice, carbonates and RTD coffee. Imported and premium brands of bottled water, carbonated bottled water and fruit/vegetable juice recorded healthy growth rates. In the case of fruit/vegetable juice, the category continued to see declining volume sales but imported premium juice expanded its presence in South Korea. New flavours of carbonates and renewed brands without sugar and preservatives were also popular launches. However, RTD tea and Asian speciality drinks showed volume declines as they fell out of fashion. Health and Wellness Continues To Attract Consumers With the growing health and wellness trend, healthy concepts remained popular among South Korean consumers. In particular, various vitamins have been used to target different consumer groups and manufacturers have highlighted the varied functions of different vitamins in their products, targeting sophisticated South Korean consumers. Vitamin B has been marketed for its anti-ageing properties. Vitamin C and collagen remained among the favourite ingredients for skin health. At the same time, manufacturers tried to strengthen healthy brands through advertising, the shape of packaging and using brand names to appeal to a sophisticated South Korean consumer base. Two Leading Companies Maintain Positions Lotte Chilsung Beverage Co Ltd and Coca-Cola Korea Co maintained the two leading positions in 2010, accounting for a 48% combined share in off-trade value terms. Lotte Chilsung remained in the leading position with 33% of off-trade value sales in The company strengthened its product portfolio, launching premium fruit/vegetable juice and sports drinks and renewing its well-known carbonates and flavoured bottled water lines, recording a positive growth rate although a decline in share. Coca-Cola Korea also introduced a smaller version of its Coca-Cola brand, Mini Coke, which proved popular among younger consumers. sparkling Becomes Popular In 2010, sparkling was a popular concept within soft drinks. South Koreans generally perceive sparkling drinks to be less healthy, a traditional perception associated with carbonates. However, carbonates have seen continued positive growth since 2008, despite the health and wellness trend. Growing numbers of South Korean consumers looking for refreshing carbonated options in soft drinks have become apparent. New product developments, presented as sparkling versions of fruit/vegetable juice and RTD tea, were introduced during Carbonated bottled water experienced strong growth in Furthermore, manufacturers offered health-positioned drinks in a carbonated format to attract consumers who are sensitive to their health needs.

21 Soft Drinks Will See Rapid Growth But Rapid Change KEY TRENDS AND DEVELOPMENTS Premiumisation Continues To Drive Growth Current Impact Outlook

22 Future Impact sparkling Well Received by South Korean Consumers Current Impact Outlook

23 Future Impact Leading Players Remain in Strong Positions Current Impact Outlook

24 Future Impact Specialist Coffee Shops the Entry Channel for Premium Soft Drinks Current Impact Outlook

25 Future Impact Marketing Strategies Through Smartphones Become Active Current Impact Outlook Future Impact

26 MARKET DATA Table 1 million litres OFF-trade ON-trade Total Off-trade vs On-trade Sales of Soft Drinks (as sold) by Channel: Volume Note: Excludes powder concentrates Table 2 Off-trade vs On-trade Sales of Soft Drinks (as sold) by Channel: % Volume Growth % volume growth OFF-trade ON-trade Total 2009/ CAGR 2005/10 TOTAL Note: Excludes powder concentrates Table 3 Off-trade vs On-trade Sales of Soft Drinks by Channel: Value Won billion OFF-trade ON-trade Total Table 4 Off-trade vs On-trade Sales of Soft Drinks by Channel: % Value Growth % current value growth OFF-trade ON-trade Total 2009/ CAGR 2005/10 TOTAL

27 Table 5 million litres Off-trade vs On-trade Sales of Soft Drinks (as sold) by Category: Volume 2010 Off-trade On-trade TOTAL Bottled Water Carbonates Concentrates Fruit/Vegetable Juice RTD Coffee RTD Tea Sports and Energy Drinks Asian Speciality Drinks Soft Drinks Note: Excludes powder concentrates Table 6 Off-trade vs On-trade Sales of Soft Drinks (as sold) by Category: % Volume 2010 % volume analysis Bottled Water Carbonates Concentrates Fruit/Vegetable Juice RTD Coffee RTD Tea Sports and Energy Drinks Asian Speciality Drinks Soft Drinks Off-trade On-trade Total Note: Excludes powder concentrates Table 7 Off-trade vs On-trade Sales of Soft Drinks by Category: Value 2010 Won billion Bottled Water Carbonates Concentrates Fruit/Vegetable Juice RTD Coffee RTD Tea Sports and Energy Drinks Asian Speciality Drinks Soft Drinks Off-trade On-trade TOTAL

28 Table 8 Off-trade vs On-trade Sales of Soft Drinks by Category: % Value 2010 % value analysis Bottled Water Carbonates Concentrates Fruit/Vegetable Juice RTD Coffee RTD Tea Sports and Energy Drinks Asian Speciality Drinks Soft Drinks Off-trade On-trade Total Table 9 Off-trade Sales of Soft Drinks (as sold) by Category: Volume million litres Bottled Water Carbonates Concentrates Fruit/Vegetable Juice RTD Coffee RTD Tea Sports and Energy Drinks Asian Speciality Drinks Soft Drinks Note: Excludes powder concentrates Table 10 Off-trade Sales of Soft Drinks (as sold) by Category: % Volume Growth % volume growth Bottled Water Carbonates Concentrates Fruit/Vegetable Juice RTD Coffee RTD Tea Sports and Energy Drinks Asian Speciality Drinks Soft Drinks 2009/ CAGR 2005/10 TOTAL Note: Excludes powder concentrates Table 11 Off-trade Sales of Soft Drinks by Category: Value

29 Won billion Bottled Water Carbonates Concentrates Fruit/Vegetable Juice RTD Coffee RTD Tea Sports and Energy Drinks Asian Speciality Drinks Soft Drinks Table 12 Off-trade Sales of Soft Drinks by Category: % Value Growth % current value growth Bottled Water Carbonates Concentrates Fruit/Vegetable Juice RTD Coffee RTD Tea Sports and Energy Drinks Asian Speciality Drinks Soft Drinks 2009/ CAGR 2005/10 TOTAL Table 13 Company Shares of Off-trade Soft Drinks (as sold) by Volume % off-trade volume Company

30 Total Note: Excludes powder concentrates Table 14 Brand Shares of Off-trade Soft Drinks (as sold) by Volume % off-trade volume Brand Company

31 Total Note: Excludes powder concentrates Table 15 Company Shares of Off-trade Soft Drinks (RTD) by Volume % off-trade volume Company Others Total

32 Table 16 Brand Shares of Off-trade Soft Drinks (RTD) by Volume % off-trade volume Brand Company

33 Total Table 17 Company Shares of Off-trade Soft Drinks by Value % off-trade value rsp Company Total Table 18 Brand Shares of Off-trade Soft Drinks by Value % off-trade value rsp Brand Company

34 Others Total Table 19 Off-trade Sales of Soft Drinks by Category and Distribution Format: % Analysis 2010

35 % off-trade BW C Con F/VJ RTD C RTD T Store-Based Retailing Grocery Retailers Supermarkets/Hypermarkets Discounters Small Grocery Retailers Convenience Stores Independent Small Grocers Forecourt Retailers Other Grocery Retailers Non-Grocery Retailers Non-Store Retailing Vending Homeshopping Internet Retailing Direct Selling Total SED ASD Store-Based Retailing Grocery Retailers Supermarkets/Hypermarkets Discounters Small Grocery Retailers Convenience Stores Independent Small Grocers Forecourt Retailers Other Grocery Retailers Non-Grocery Retailers Non-Store Retailing Vending Homeshopping Internet Retailing Direct Selling Total Key: Note: BW = bottled water; C = carbonates; Con = concentrates; F/VJ = fruit/vegetable juice; RTD C = RTD coffee; RTD T = RTD tea; SED = sports and energy drinks; ASD = Asian speciality drinks Excludes powder concentrates Table 20 Forecast Off-trade vs On-trade Sales of Soft Drinks (as sold) by Channel: Volume million litres OFF-trade ON-trade Total Note: Euromonitor International from trade associations, trade press, company research, trade interviews, trade sources Excludes powder concentrates

36 Table 21 Forecast Off-trade vs On-trade Sales of Soft Drinks (as sold) by Channel: % Volume Growth % volume growth OFF-trade ON-trade Total 2014/ CAGR 2010/15 TOTAL Note: Euromonitor International from trade associations, trade press, company research, trade interviews, trade sources Excludes powder concentrates Table 22 Forecast Off-trade vs On-trade Sales of Soft Drinks by Channel: Value Won billion OFF-trade ON-trade Total Euromonitor International from trade associations, trade press, company research, trade interviews, trade sources Table 23 Forecast Off-trade vs On-trade Sales of Soft Drinks by Channel: % Value Growth % current value growth OFF-trade ON-trade Total 2014/ CAGR 2010/15 TOTAL Euromonitor International from trade associations, trade press, company research, trade interviews, trade sources Table 24 Forecast Off-trade Sales of Soft Drinks (as sold) by Category: Volume million litres Bottled Water Carbonates Concentrates Fruit/Vegetable Juice RTD Coffee RTD Tea Sports and Energy Drinks Asian Speciality Drinks Soft Drinks Note: Euromonitor International from trade associations, trade press, company research, trade interviews, trade sources Excludes powder concentrates

37 Table 25 % volume growth Forecast Off-trade Sales of Soft Drinks (as sold) by Category: % Volume Growth / CAGR 2010/15 TOTAL Bottled Water Carbonates Concentrates Fruit/Vegetable Juice RTD Coffee RTD Tea Sports and Energy Drinks Asian Speciality Drinks Soft Drinks Note: Euromonitor International from trade associations, trade press, company research, trade interviews, trade sources Excludes powder concentrates Table 26 Forecast Off-trade Sales of Soft Drinks by Category: Value Won billion Bottled Water Carbonates Concentrates Fruit/Vegetable Juice RTD Coffee RTD Tea Sports and Energy Drinks Asian Speciality Drinks Soft Drinks Euromonitor International from trade associations, trade press, company research, trade interviews, trade sources Table 27 Forecast Off-trade Sales of Soft Drinks by Category: % Value Growth % constant value growth Bottled Water Carbonates Concentrates Fruit/Vegetable Juice RTD Coffee RTD Tea Sports and Energy Drinks Asian Speciality Drinks Soft Drinks CAGR 2010/15 TOTAL Euromonitor International from trade associations, trade press, company research, trade interviews, trade sources

38 APPENDIX Fountain Sales in South Korea Trends Fountain sales continued positive growth in on-trade volume terms while fountain on-trade volume sales through convenience stores declined during In South Korea, most fountain sales occurred in the foodservice channel, which accounted for a 97% share of total fountain volume sales in Fountain sales through convenience stores tend to be subject to seasonality, with demand being higher in summer. As such, few convenience stores offer fountain sales for soft drinks in South Korea. In addition, most convenience stores are limited in their selling space, making it increasingly difficult to site the fountains on the premises. Only a small number around school zones tend to offer fountain sales. DATA Table 28 Off-trade vs On-trade Fountain Sales of Soft Drinks: Volume million litres OFF-trade ON-trade Fountain ON-trade volume through c-store Fountain ON-trade volume through food store Total fountain ON-trade volume Total

39 Note: Total fountain on-trade volume data included in on-trade Table 29 Off-trade vs On-trade Fountain Sales of Soft Drinks: % Volume Growth % fountain volume growth OFF-trade ON-trade Fountain ON-trade volume through c-store Fountain ON-trade volume through food store Total fountain ON-trade volume Total 2009/ CAGR 2005/10 TOTAL Note: Total fountain on-trade volume data included in on-trade Table 30 Off-trade vs On-trade Fountain Sales of Carbonates: Volume million litres OFF-trade ON-trade Fountain ON-trade volume through c-store Fountain ON-trade volume through food store Total fountain ON-trade volume Total Note: Total fountain on-trade volume data included in on-trade Table 31 Off-trade vs On-trade Fountain Sales of Carbonates: % Volume Growth % fountain volume growth OFF-trade ON-trade Fountain ON-trade volume through c-store Fountain ON-trade volume through food store Total fountain ON-trade volume Total 2009/ CAGR 2005/10 TOTAL Note: Total fountain on-trade volume data included in on-trade

40 Table 32 Forecast Off-trade vs On-trade Fountain Sales of Soft Drinks: Volume million litres OFF-trade ON-trade Fountain ON-trade volume through c-store Fountain ON-trade volume through food store Total fountain ON-trade volume Total,,,,,, Note: Total fountain on-trade volume data included in on-trade Table 33 Forecast Off-trade vs On-trade Fountain Sales of Soft Drinks: % Volume Growth % fountain volume growth OFF-trade ON-trade Fountain ON-trade volume through c-store Fountain ON-trade volume through food store Total fountain ON-trade volume Total 2014/ CAGR 2010/15 TOTAL Note: Total fountain on-trade volume data included in on-trade Table 34 Forecast Off-trade vs On-trade Fountain Sales of Carbonates: Volume million litres OFF-trade ON-trade Fountain ON-trade volume through c-store Fountain ON-trade volume through food store Total fountain ON-trade volume Total 2, , , , , ,612.6 Note: Total fountain on-trade volume data included in on-trade

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