As soft drinks manufacturers emerge from the global recession, many face continued sales declines in developed markets due to saturation of key categories. As credit markets ease, new global competitors will continue to emerge as companies look beyond their domestic markets for growth. While large-scale transformative mergers are less likely, several smaller companies offer advantages of access to new geographies, brands, sales channels, or strategic partnerships. A report from Euromonitor this month looks to identify these opportunities for major soft drinks categories and explains the rationale and implications of potential future M&A activity.