Overview and Scope
Carbonated soft drinks refer to drinks that contain small bubbles of carbon dioxide. It is a type of non-alcoholic beverage that is prepared with carbonated water and flavoring and is sweetened with sugar or a non-nutritive sweetener.
Sizing and Forecast
The carbonated soft drinks market size has grown steadily in recent years. It will grow from $118.64 billion in 2023 to $122.37 billion in 2024 at a compound annual growth rate (CAGR) of 3.1%. The growth in the historic period can be attributed to consumer demand for convenience, globalization of beverage brands, marketing and branding strategies, lifestyle and on-the-go culture, affordability and accessibility, flavor innovation and variety.
The carbonated soft drinks market size is expected to see steady growth in the next few years. It will grow to $137.23 billion in 2028 at a compound annual growth rate (CAGR) of 2.9%. The growth in the forecast period can be attributed to innovation in low-calorie and functional drinks, sustainability initiatives, rise of craft and artisanal beverages, regulatory measures and sugar taxes, health and wellness trends. Major trends in the forecast period include digital marketing and e-commerce, expansion of flavored and functional beverages, growing interest in premium and artisanal soft drinks, sustainability and eco-friendly packaging practices, rise of premium mixers for cocktails.
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Segmentation & Regional Insights
The carbonated soft drinks market covered in this report is segmented –
1) By Product: Softdrinks, Carbonated Water, Sports and Energy drinks, Other Products
2) By Flavor: Cola, Citrus, Other Flavors
3) By Packaging: Bottles, Cans
4) By Distribution Channel: Hypermarkets, Supermarkets And Mass Merchandisers, Convenience Stores And Gas Stations, Food Service Outlets, Online Stores And D2C, Other Distribution Channels
North America was the largest region in the carbonated soft drinks market in 2023. The regions covered in the carbonated soft drinks market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
A rise in recreational activities is expected to propel the growth of the carbonated soft drinks market going forward. Recreational activities are enjoyable, psychologically or physically stimulating activities that individuals usually plan to undertake in their spare time. Carbonated drinks are utilized during recreational activities to keep people hydrated throughout the day. It also experiments with additives to meet consumers’ need for a mental boost. For instance, in October 2021, US Bureau of Labor Statistics, a US-based government agency, time spent on leisure and sports activities increased by 32 minutes per day. Therefore, a rise in recreational activities will drive the carbonated soft drinks market.
Key Industry Players
Major companies operating in the carbonated soft drinks market are focusing on innovating products with artificial intelligence technology to gain a competitive edge in the market. AI-Crafted Flavor in carbonated soft drinks refers to the use of artificial intelligence algorithms to design and optimize unique taste profiles, enhancing sensory experiences for consumers. For instance, in September 2023, Coca-Cola Company, a US-based drink industry company launched Coca-Cola Y3000 Zero Sugar. Coca-Cola Y3000 Zero Sugar is a flavor drink used with artificial intelligence (AI)-crafted flavor that provides unique taste. Coca-Cola Y3000 Zero Sugar is a limited-edition mystery flavor drink that contains carbonated water created by both humans and cutting-edge artificial intelligence (AI) technology. It is available in both zero sugar and original taste versions. It is designed to provide consumers with a futuristic taste experience.
The carbonated soft drinks market report table of contents includes:
1. Executive Summary
2. Carbonated Soft Drinks Market Characteristics
3. Carbonated Soft Drinks Market Trends And Strategies
4. Carbonated Soft Drinks Market – Macro Economic Scenario
5. Global Carbonated Soft Drinks Market Size and Growth
…
31. Global Carbonated Soft Drinks Market Competitive Benchmarking
32. Global Carbonated Soft Drinks Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Carbonated Soft Drinks Market
34.Carbonated Soft Drinks Market Future Outlook and Potential Analysis
35. Appendix
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