海通国际：饮料行业利润增速显著快于收入 26年需求受出行与餐饮拉动温和增长

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智通财经APP获悉，海通国际发布研报称，2025年饮料行业利润增速显著快于收入。价格端来看，软饮料25下半年来折扣持续加深，包装水、碳酸品类竞争较激烈，即饮茶相对稳健，包装水价格战有望年内因龙头控费、通胀预期抬头等改善。需求端，清明假期人员流动同比增6%，重点零售餐饮企业日均销售额增长2.4%，后续“五一”等长假有望进一步带动景气。成本端，预计1H成本红利延续但边际收敛，PET价格因地缘政治波动...

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