Global Carbonated Beverages Market Size, Share, Trends, COVID-19 Impact & Growth Forecast Report – Segmented By Type (Standard, Diet), Flavour (Cola, Lime, Orange), Distribution Channel (Independent Retailers, Convenience Stores, Hypermarkets And Supermarkets), And Region (North America, Europe, APAC, Latin America, Middle East And Africa) – Industry Analysis From 2024 To 2029

Updated On: June, 2024
ID: 3567
Pages: 175

Global Carbonated Beverages Market Size (2024 to 2029)

The global carbonated beverages market size is expected to be worth USD 417.72 billion in 2024 and USD 487.79 billion by 2029, growing at a CAGR of 3.15% from 2024 and 2029.

Carbonated beverages are liquids with the addition of carbon dioxide under pressure to provide effervescence. Soda water or sparkling water is used as the basis for making these drinks. Carbonated beverages contain sweeteners, spices, and water. Carbonic acid is produced by adding water and carbon dioxide that itches after consumption. Various types of carbonated drinks, such as sparkling water, tea, smoothies, and juices, are available in the market. Soft drink consumption is highest in the summer months and comes in a variety of flavors such as cola, orange, and lemon. They have a significant amount of sugar. In this line, there is a continuous diversification of products and new natural flavors are introduced. However, traditional flavors dominate the market. They are packaged drinks that are available in bottles, cans, and PET bottles without any alcohol content. Therefore, it is called a soft drink and covers smoothies, juices, teas ready-to-drink coffees, concentrates, and functional beverages.

MARKET DRIVERS

The growing consumption of carbonated beverages among the increasing youth population in developing countries and rising disposable incomes among consumers are propelling the global carbonated beverage market growth.

The rise in the carbonated beverages market around the world is likely to witness steady growth as the market is in the saturation stage in different parts of the world. The sales of carbonated beverages depend heavily on the companies' ability to develop new products based on changing consumer needs. The increasing demand for processed foods and beverages, along with the growing population of BRICS countries, is expected to help the market. The industry has relatively low prices and margins compared to other consumer goods. Therefore, key industry participants focus on packaging innovation to achieve market gains along with sustainability. Coca-Cola Company balances the relationship between bottle sustainability and functional design. They discard brand stocks, and the bottles are more sustainable than regular PET bottles. The demand for carbonated beverages with reduced sugar content is supposed to appeal to consumers due to new perceptions of health worldwide. There are various flavors like orange, cola and lemon. However, the original soft drink sector is dominant in terms of demand.

With increasing health awareness among consumers, naturally flavored drinks such as tropical and super fruits have been introduced. Product innovation and the transitional approach to innovative packaging and reusable bottle and can manufacturing are expected to provide ample opportunities for market participants. This phase is expected to reduce the dumping of waste material and ensure market continuity. The increase in the popularity of soft drinks, especially among young people, is a significant factor driving the growth of the global Carbonated Beverages market. Carbonated drinks improve the swallowing ability of young adults and young adults. It also makes you feel full because it stays longer than water in the human system.

The increasing frequency of serving carbonated beverages as side dishes at various fast food restaurants and cafes is also driving growth in the global carbonated beverages market. Growing consumer demand for mortgage and diet soda as the adoption of a healthy lifestyle increases is another factor driving growth in the global carbonated drinks market size. Furthermore, the growth of young populations and the increase in disposable income in developing countries are factors that are likely to drive the demand in the world market in the near future.

MARKET RESTRAINTS

Health lobbyists are one of the major restraints to the growth of the global carbonated beverages market. Reports of childhood obesity have increased in recent years. This can negatively affect the overall growth of the market. Strict regulations on the use of plastics in packaging materials appear as obstacles and can limit the global market growth. Additionally, the high sugar content in carbonated beverages can lead to diabetes, obesity, and calcium depletion. This factor can impede the growth of the global carbonated beverage market.

REPORT COVERAGE

REPORT METRIC

DETAILS

Market Size Available

2023 to 2029

Base Year

2023

Forecast Period

2024 to 2029

CAGR

3.15%

Segments Covered

By Flavor, Type, Distribution Channel, And Region

Various Analyses Covered

Global, Regional and Country Level Analysis; Segment-Level Analysis; DROC; PESTLE Analysis; Porter’s Five Forces Analysis; Competitive Landscape; Analyst Overview of Investment Opportunities

Regions Covered

North America, Europe, APAC, Latin America, Middle East & Africa

Market Leaders Profiled

Britvic PLC, Cott Corporation, PepsiCo, Parle Agro, And Coca-Cola Company

 

REGIONAL ANALYSIS

North America accounted for the largest share in terms of sales in the global market in 2023 and is predicted to maintain its position over the forecast period due to the presence of the leading manufacturing companies in the region. North America has a significant share of the global business. The growing demand for processed foods and beverages in the industry is assumed to have a positive impact on local markets. However, cases of obesity in the region have led to a steady decline in demand for ten years.

Europe is projected to occupy the second position in the income category as the consumption of soft drinks by individuals increases, especially in restaurants and food stores. Europe, led by Germany, France, Italy, and Spain, is a market for soft drinks. The initial adoption of soft drink-based products combined with high living standards compared to developing countries is an essential factor responsible for market development.

The Asia-Pacific region is anticipated to see a significant increase in profits during the prediction period due to the rising youth population and the rise of fast food in the area. The Asia Pacific market is expected to show the most rapid growth in the next seven years. Lowering strict rules and regulations and increasing disposable incomes among consumers in emerging countries such as China, India, Southeast Asia, Korea, and Japan are supposed to help overall growth. In Central and South America, growth is foreseen due to lower medical awareness compared to other regions that lack regulatory policies related to sugar-based beverages. Additionally, the companies in this area have focused on introducing new products, which are likely to spur growth.

KEY PLAYERS IN THE GLOBAL CARBONATED BEVERAGES MARKET

Britvic PLC, Cott Corporation, PepsiCo, Parle Agro and Coca-Cola Company are a few of the noteworthy companies in the global carbonated beverages market.

RECENT HAPPENINGS IN THE MARKET

  • In May 2018, Coca-Cola established a juice processing plant in Kenya. Coca-Cola companies in Nairobi, based in East and West Africa, plan to align a variety of soft drinks on the Kenyan market to meet the growing demand of consumers.
  • In March 2018, Coca-Cola launched alcohol. The launch of this product will break the continuation of 126 years when entering the prosperous market of the company "Alcopop."
  • In 2017 Diageo launched a low-calorie winery under the Smirnoff brand. The company also offers low-carb RTD beverages and is low in carbohydrates, zero sugar, and artificial sweeteners.

DETAILED SEGMENTATION OF GLOBAL CARBONATED BEVERAGES MARKET INCLUDED IN THIS REPORT    

This research report on the global carbonated beverages market has been segmented and sub-segmented based on type, flavor, distribution channel, & region.

By Type

  • Standard 
  • Diet           
  • Fruit          
  • Others

By Flavour

  • Cola           
  • Lime          
  • Orange    
  • Others     

By Distribution Channel

  • Hypermarkets and Supermarkets
  • Independent Retailers      
  • Convenience Stores           
  • Others      

By Region

  • North America 
  • Europe 
  • Asia Pacific 
  • Latin America 
  • Middle East and Africa 

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Frequently Asked Questions

1. What are the current trends in the carbonated beverages market?

The current trends in the carbonated beverages market are Health-conscious choices, a growing demand for low-calorie, sugar-free, and natural ingredient-based carbonated drinks, and Flavor innovation: Unique and exotic flavors, as well as nostalgic flavors, are becoming popular among consumers.

2. What are the key challenges faced by the carbonated beverages market?

The key challenges faced by the carbonated beverages market are Health concerns, negative perceptions regarding sugar content and artificial ingredients affecting consumer choices, and Regulatory pressures, including increasing regulations and taxes on sugary beverages in some regions, impacting market dynamics.

3. How is the market expected to grow in the coming years?

The market is expected to grow in the coming years. Emerging markets are Increased urbanization and rising disposable incomes in developing countries are driving market growth and Health awareness. As more consumers seek healthier alternatives, the demand for healthier carbonated beverages is expected to rise.

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