Diet Soft Drinks Market Size
Global Diet Soft Drinks Market reached USD 5.8 billion in 2022 and is expected to reach USD 9.3 billion by 2030 growing with a CAGR of 6.2% during the forecast period 2024-2031. The shifting consumer preference towards a healthier lifestyle is estimated to increase the global diet soft drinks market growth.
The growing concerns over obesity and wellness have resulted in a massive shift in consumer preference towards diet beverages. The trend of clean and healthy intake amongst consumers has positively affected the growth of the beverage industry, where manufacturers are concentrating on producing sugar-free soft drinks. For instance, in Argentina, Coke launched Coke Life, which has stevia as a primary sweetener.
The R&D by the key market players is reaching out to the various opportunities for the market. For instance, Coca-Cola is testing a Diet Coke variant in Minnesota sweetened with monk fruit and stevia instead of the artificial sweeter aspartame. The increased consumer preference towards healthier lifestyles, increased obesity and diabetic cases, and trending zero-calorie drink benefits are the critical factors for the growth of the diet soft drinks market.
Market Summary
| Metrics | Details |
| CAGR | 6.2% |
| Size Available for Years | 2022-2031 |
| Forecast Period | 2024-2031 |
| Data Availability | Value (US$) |
| Segments Covered | Product Type, End Users, Distribution Channel, and Region |
| Regions Covered | North America, Europe, Asia-Pacific, South America, and Middle East & Africa |
| Fastest Growing Region | North America |
| Largest Region | Asia-Pacific |
| 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 vital Insights. |
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Market Dynamics
The Increasing Health Consciousness Among Consumers Drives the Market Growth.
The increasing health and fitness awareness among people is expected to drive the market of diet soft drinks. A sedentary and busy lifestyle is the primary cause of various diseases like obesity, high blood pressure, and diabetes. Consumers are willing to maintain good health. For that, they are following various diets, such as low and zero-calorie diets.
The diet soft drinks are available in zero and low calories. Artificial sweeteners like stevia are used in the soft drinks production. They are 100 to 300 times sweeter than table sugar and have zero calories. This helps maintain the calorie intake of consumers. With the increase in health consciousness among people, consumers are shifting towards diet soft drinks with zero and low calories, thereby, driving the market growth.
Increasing Demand for Ready-toDrink Beverages Drives the Market Growth
The continued popularity of beverages like soft drinks, and diet soft drinks as household staples is attributed to the fact that consumers with little free time must consume them. The producers of diet soft drinks are utilizing consumers' approval of healthy drinks to develop value-added items that will diversify their product lines. The availability of several flavors and zero-calorie types of drinks in the ready-to-drink beverage is driving the market.
The manufacturers focus on developing products with minimal or no artificial additives, and various flavored artificially sweetened soft drinks. For instance, Coca-Cola launched Diet Coke in different flavors and no-sugar beverages. Also, PepsiCo has been offering Pepsi Next, a low-calorie soft drink with stevia, in France and Australia.
Health Issues Associated with Artificial Sweeteners Restrain the Market Growth.
The diet soft drinks consist of artificial sweeteners. Aspartame, saccharin, and sucralose are a few of the artificial sweeteners that are used in diet soft drink preparation. The regular consumption of artificial sweeteners can cause an increased risk of various diseases like metabolic syndrome and type 2 diabetes. The symptoms include bloating, headache, and diarrhea.
Artificial sweeteners may also result in some gastrointestinal problems. They alter the gut microbiota and harm the beneficial microorganisms to harmful ones. Hence, the health issues associated with artificial sweeteners hamper the demand for diet soft drinks, restraining market growth. Furthermore, the availability of alternatives and the high cost of these drinks hinders market growth.
Market Segmentation Analysis
The global diet soft drinks market is segmented based on product type, end users, distribution channel, and region.
In the Diet Soft Drinks Market, the Zero Calorie Segment Holds the Largest Market Share.
The global diet soft drinks market has been segmented by product type into zero calorie and low calorie. The zero calorie segment held the largest nuts market share of 58.8% in 2022 in the diet soft drinks market analysis report. The increasing prevalence of obesity and diabetes is making people shift towards zero calorie diet soft drinks, driving the segment’s growth.
The high-calorie soft drinks are increasing a person's calorie intake and the prevalence of lifestyle disorders. The World Obesity Federation’s 2023 atlas predicts that 51% of the world, will be obese within the next 12 years. This is becoming one of the significant reasons people prefer zero calories to have a balance of their calorie intake and to avoid most health problems.
Market Geographical Share
The Asia-Pacific Held the Largest Share of the Global Diet Soft Drinks Market.
The global diet soft drinks market is segmented into five parts based on geography: North America, South America, Europe, Asia-Pacific, the Middle East, and Africa. The Asia-Pacific diet soft drinks market held the largest market share of 38.6% in 2022 in the diet soft drinks market analysis. The increasing health consciouness among the large population of this region is driving the market in this region.
The increasing prevalence of this region’s obesity and diabetes, growing health awareness, and rising concern for healthy eating and drinking habits drive this region’s market share. The NIH estimated that a population of over 1.5 billion people in the Asia-Pacific region are obese. With the increase in the prevalence of the health concerns, people are preferring zero calories soft drinks driving the market in this region.
Market Key Players
The major global players in the market include The Coca-Cola Company, PepsiCo, Nestle, Unilever, Cott Corporation, Polar beverages, Sam’s Choice, Hamoud Boualem, Buffalo Rock Company, and Keurig Dr Pepper, Inc.
COVID-19 Impact Analysis
Global Recession/Ukraine-Russia War/COVID-19, and Artificial Intelligence Impact Analysis:
The unprecedented COVID-19 pandemic in 2020 profoundly affected the beverage industry. Covid-19 has considerably impacted the global beverage supply chain phases involving diet soft drinks production, processing, distribution, and consumption due to lockdowns and restrictions imposed by various governments.
Everything has changed due to the COVID-19 epidemic. It has influenced practically every industry, whether positively or negatively. The COVID-19 pandemic's effects on world economic conditions have had an influence. They could impact interest rates, foreign exchange rates, commodities and energy prices, and the efficient operation of financial and capital markets.
The COVID-19 pandemic issue has had an impact on the beverage industry as well. The COVID-19 pandemic is upending life, and the beverage sector is seeing increased trends like diet soft drinks. The beverage businesses are launching innovative programs, including diet soft drinks, that are straightforward to consume.
Key Developments
- In January 2023, Splenda Sweeteners, launched a zero-calorie drink mix.
- In November 2022, SHS brand of adult soft drinks, Shloer, introduced its new zero-calorie drinks, available in white and red grapes.
- In August 2021, the new Dew Hard Seltzer, North American Company, delivered zero sugar and is available in three flavours: Classic Mountain Dew, Black Cherry, and Watermelon.
Why Purchase the Report?
- To visualize the global diet soft drinks market segmentation based on product type, end users, distribution channel, and region and understand key commercial assets and players.
- Identify commercial opportunities in the market by analyzing trends and co-development.
- Excel data sheet with numerous data points of diet soft drinks market-level with all segments.
- The PDF report includes a comprehensive market analysis after exhaustive qualitative interviews and an in-depth market study.
- Product mapping is available as Excel consists of key products of all the major market players.
The Global Diet Soft Drinks Market report would provide approximately 61 tables, 57 figures and 165 Pages.
Target Audience 2024
- Manufacturers/ Buyers
- Industry Investors/Investment Bankers
- Research Professionals
- Emerging Companies
