What is the global market size of Carbonated Beverages Market?

Global Carbonated Beverages Market was valued at USD 391.8 billion in 2021, and it is expected to reach a value of USD 581.38 billion by 2028, at a CAGR of more than 5.8% over the forecast period (2022-2028). Read More

Global Carbonated Beverages Market Size, Share, Growth Analysis, By Product(Soft Drinks, Sports & Energy Drinks), By Flavor(Cola, Fruit-Based), By Distribution Channel(Hypermarkets/Supermarkets, Specialty Stores) - Industry Forecast 2024-2031

Report ID: SQMIG30G2053 | Region: Global | Published Date: February, 2024
Pages: 265 | Tables: 91 | Figures: 76

Global Carbonated Beverages Market Insights

Carbonated Beverages Market size was valued at USD 422.7 billion in 2019 and is poised to grow from USD 439.3 billion in 2023 to USD 674.8 billion by 2031, growing at a CAGR of 3.8% in the forecast period (2024-2031).

Carbon dioxide is added to a liquid to create carbonated drinks. Soft drink is the most popular kind of carbonated beverage. Additionally, carbonated drinks including water, juice, and energy drinks are often consumed. Some wine producers add carbon dioxide to their goods to make them bubbly and sparkling.

The strong popularity of soda drinks among generation X and generation Y consumers is anticipated to be a key factor in the market's growth. These beverages are more popular with consumers because they have an acidic bite, a pleasant tingling feeling, and a cooling effect with each sip. In addition to this, the product contains fruit tastes, which help customers accept such items. Clean water, flavouring ingredients to create the taste profile, sugar or other sweeteners, coloring agents, and preservatives that are meant to be included are all used in the production of carbonated beverages. With the introduction of glass bottles, cans, plastic bottles, high-speed packaging lines, and developing packaging methods, technology has undoubtedly contributed to the rise in consumption of carbonated beverages. For example, in contrast to developed countries like the US, where the per-capita consumption is 1,496 bottles, India's consumption of soft drinks in 2019 was 44 bottles. 1,489 bottles were consumed in Mexico, 1,221 in Germany, and 537 in emerging countries like Brazil. With consumption anticipated to nearly quadruple to 84 bottles by 2031, this under-penetration is likely to be corrected.

US Carbonated Beverages Market is poised to grow at a sustainable CAGR for the next forecast year.

Global Carbonated Beverages Market Report Snapshots

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Global carbonated beverages market is relatively fragmented, with a high level of competition. The prominent players operating in the market are constantly adopting various growth strategies to stay afloat in the market. Product launches, innovations, mergers, and acquisitions, collaborations and partnerships, and intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market. Moreover, the sustainability initiatives taken by the players are expected to boost the growth of the market during the forecast period. For example, in February 2022, the Coca-Cola Company set a precedent-setting objective to greatly increase the usage of recyclable packaging. The company's goal is for its portfolio of brands to sell at least 25% of all drinks sold globally by 2030 in refillable/returnable glass or plastic bottles, or in refillable containers using a conventional fountain or Coca-Cola Freestyle dispensers. The key market players are also constantly focused on R&D to supply industries with the most efficient and cost-effective solutions. 'PepsiCo Inc.', 'Coca-Cola', 'Nestlé', 'Dr Pepper Snapple Group', 'Keurig Dr Pepper', 'Danone', 'Fanta', 'Sprite', '7UP', 'Schweppes', 'Canada Dry', 'Crush', 'Sunkist', 'Mountain Dew', 'A&W', 'Barq's', 'Big Red', 'Jones Soda', 'Boylan Bottling Company', 'Faygo'

Due to consumers' busy lifestyles, carbonated beverages have gained popularity. The market for low-calorie carbonated beverages has expanded due to the rise in consumer demand for clean-label, gluten-free, low-calorie, and low-carb goods in the food sector. The market for functional beverages as a whole is expanding, and consumers' awareness of their own health is rising, which has fueled the demand for low-calorie beverages. The market's expansion has been further aided by the simple availability of low- or zero-calorie beverages, which can be found in Walmart and convenience stores. To draw in more customers, major players are continuously experimenting with new tastes and innovations for zero-calorie beverages.

The expansion of the global market is also being driven by the rising popularity of supplying carbonated beverages as a side drink in various fast-food restaurants and cafés. Another driver fueling development in the worldwide carbonated beverage market is a rise in customer demand for low-sugar and diet carbonated beverages due to rising adoption of a healthy lifestyle.

North America dominated the global carbonated beverages market. The increased demand for carbonated beverages, altered eating patterns, and an increase in the region's youth population all contribute to the growth of the North American market. Additionally, in order to meet new difficulties, businesses are coming up with new ideas and manufacturing goods while taking into account the concerns about customers' health and wellbeing in the area. Coca-Cola, the market leader, maintains a product sustainability strategy for ongoing brand reliability. These elements are fueling the carbonated beverage market's expansion on the North American continent. For example, in 2022, Two of the largest North American brands of The Coca-Cola Company are making significant efforts to foster a circular economy for plastic packaging. To improve the possibility that the material will be used to make new beverage bottles, Sprite is switching from green to clear plastic and DASANI is introducing bottles that are entirely made of recycled PET plastic (caps and labels are excluded).

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Global Carbonated Beverages Market Size, Share, Growth Analysis, By Product(Soft Drinks, Sports & Energy Drinks), By Flavor(Cola, Fruit-Based), By Distribution Channel(Hypermarkets/Supermarkets, Specialty Stores) - Industry Forecast 2024-2031

Global Carbonated Beverages Market Insights

Global Carbonated Beverages Market Report Snapshots

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