Carbonated Beverages Market Size
The Global Carbonated Beverages Market reached US$ 343 billion in 2022 and is projected to witness lucrative growth by reaching up to US$ 495 billion by 2030. The market is growing at a CAGR of 6.9% during the forecast period 2024-2031.
Carbonated drinks, or soda or soft drinks, are beverages infused with carbon dioxide (CO2) gas under pressure. Carbonation technology and the carbonation process achieve the characteristic fizz and bubbles in these beverages and drive the carbonated beverages market size. Beverage carbonation systems are designed to efficiently carbonate various drinks, including water, juices, and flavored beverages. Carbonation levels can vary, ranging from lightly carbonated to highly effervescent.
The Global Carbonated Beverage Market is experiencing growth due to the growing trend of serving carbonated drinks alongside meals in fast food restaurants and cafes. Additionally, the increasing consumer preference for low-sugar and diet-carbonated beverages, driven by the rising adoption of healthy lifestyles, contributes to market growth.
Market Scope
| Metrics | Details |
| CAGR | 6.9% |
| Size Available for Years | 2022-2031 |
| Forecast Period | 2024-2031 |
| Data Availability | Value (US$) |
| Segments Covered | Type, Flavor, Distribution Channel, and Region |
| Regions Covered | North America, Europe, Asia-Pacific, South America and Middle East & Africa |
| Fastest Growing Region | Asia-Pacific |
| Largest Region | North America |
| Report Insights Covered | Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, Porter’s Analysis, Pricing Analysis, Regulatory Analysis, Supply-Chain Analysis and Other key Insights. |
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Market Dynamics
Rising Demand for Calorie-Free Or Low-Calorie Carbonated Beverages
There is increasing demand for carbonated beverages among consumers. The need for low-calorie carbonated beverages has increased due to consumers’ awareness of their health. Key players in the market are continuously innovating with new tastes and launching zero-calorie beverages to seek more attention from most customers. For instance, on February 1, 2023, The US-based PepsiCo company launched a caffeine-free lemon-lime flavored soda in the US in regular and zero-sugar formats.
Strict Limitations on the Usage Of Plastic is Hampering the Market Growth.
The FDA's strict quality standards and specific identification requirements for bottled water ensure consumer protection. However, plastic packaging is subject to rigorous regulations, which hinders market growth. Furthermore, the high sugar content in carbonated beverages contributes to health issues such as diabetes, calcium deficiency, and obesity. These factors are anticipated to restrict the global expansion of the carbonated beverages market.
Market Segment Analysis
The Global Carbonated Beverages Market is segmented based on type, flavor, distribution channel and region.
Fruit Flavored Carbonates Segment Accounts for the Highest Share in Global Carbonated Beverages Market
Fruit-flavored carbonates are carbonated beverages that offer a refreshing and fruity taste. These beverages combine the effervescence of carbonation with the natural or artificial flavors of various fruits. Fruit-flavored carbonates come in a wide range of options, including citrus fruits like lemon and lime and tropical fruits like pineapple, mango, and passion fruit.
They provide a delightful alternative to traditional soda flavors and are popular among consumers seeking a fruity and bubbly beverage experience, driving the segment expansion. For instance, on May 04, 2023, Topo Chico launched a line of premium sparkling waters made with real fruit juice and herbal extracts.
Source: DataM Intelligence Analysis (2023)
Market Geographical Share
Asia-Pacific is Expected to be the Dominating Region During Forecast Period.
The Global Carbonated Beverages Market is segmented by region into North America, South America, Europe, Asia-Pacific, Middle-east and Africa.
The Asia-Pacific region will have a strong presence in the carbonated beverage industry in 2022. This region has a diverse and growing market for carbonated beverages, driven by factors such as changing consumer preferences, urbanization, and increasing disposable incomes. The market offers various carbonated drinks, including popular cola and citrus and unique regional flavors catering to local tastes.
Western culture's influence and fast food chains' presence have also contributed to the demand for carbonated beverages in the region. Manufacturers in the Asia-Pacific region are continually introducing innovative products and exploring healthier options to meet evolving consumer demands. For instance, on March 09, 2023, The Campa Cola launched Campa Lemon and Campa Orange in the sparkling beverage category in India.
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Source: DataM Intelligence Analysis (2023)
Market Key Players
The major global players include Danone S.A, Keurig Dr Pepper Inc., JONES SODA CO., National Beverage Corp., Suntory Beverage & Food Limited , Sodastream International Ltd., Monster Energy Company, The Coca-Cola Company, PepsiCo., and Refresco Group.
Covid Impact Analysis
The COVID-19 pandemic has had a global impact on the carbonated beverages market. Supply chain disruptions have affected production and distribution worldwide. Changes in consumer behavior, including limited on-premises consumption and increased at-home consumption, have influenced demand. E-commerce and online sales have played a significant role in sustaining the supply of carbonated beverages.
The extent of the impact may vary across countries and regions, depending on the severity and duration of pandemic-related restrictions imposed by each respective government.
For instance, the closure of movie theaters and entertainment venues, which significantly reduced the consumption of carbonated beverages typically enjoyed during these outings. This decline in on-premises consumption has prompted beverage companies to shift their marketing strategies towards promoting at-home consumption and online sales to adapt to the changing consumer behavior.
Key Developments
- On January 31, 2023, Wild Drum launched vegan and guilt-free hard-seltzer carbonated drinks in India. These carbonated beverages are crafted to meet specific dietary preferences and health-conscious needs. They are vegan, gluten-free, low-calorie, and fat-free, with no preservatives added.
These refreshing drinks are available in four flavors: Pure, Peach, Mango, and Lemon-Mint. Additionally, they offer two different strengths, with options of 4.75 percent ABV and 8 percent ABV to cater to varying preferences.
- On January 27, 2021, CavinKare Group launched a range of fruit-based carbonated drinks, to strengthen the beverage portfolio.
- On October 19, 2022, Jimmy launched a comprehensive range of ready-to-drink and mix beverages, making it the only brand in India to offer a complete selection of carbonated and non-carbonated mixers.
Why Purchase the Report?
- To visualize the Global Carbonated Beverages Market segmentation based on type, flavor, distribution channel, and region and understand key commercial assets and players.
- Identify commercial opportunities by analyzing trends and co-development.
- Excel data sheet with numerous carbonated beverages market-level data points with all segments.
- PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
- Product mapping available as Excel consisting of key products of all the major players.
The Global Carbonated Beverages Market Report Would Provide Approximately 77 Tables, 82 Figures And 195 Pages.
Target Audience 2024
- Manufacturers/ Buyers
- Industry Investors/Investment Bankers
- Research Professionals
- Emerging Companies
