Global Carbonated Beverages Market - 2023-2030

Market Overview

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 2023-2030.

Carbonated drinks, also called soda or soft drinks, are beverages that undergo a process of carbonation, utilizing carbonation technology and beverage carbonation systems. This involves infusing carbon dioxide (CO2) gas into the liquid, resulting in the characteristic fizzy texture and bubbles and creating lucrative sales in the Global Carbonated Beverages Market.

The carbonation levels can vary, ranging from mild to highly effervescent. Carbonated beverages are available in a wide range of flavors, including cola, citrus, fruit, and specialty blends which drives the market size. The growing prevalence of carbonated beverages being offered as side drinks in fast food joints and cafes.

This expansion in serving options is contributing to increased consumption and market demand. Additionally, a rising consumer preference for low-sugar and diet-carbonated drinks is driven by adopting healthier lifestyles.

Market Dynamics

Rising Demand for Calorie-Free Or Low-Calorie Carbonated Beverages

The global demand for calorie-free or low-calorie carbonated beverages is rising as consumers increasingly prioritize healthier choices that align with their calorie-conscious lifestyles. This growing trend is propelled by a heightened awareness of the negative health impacts associated with excessive sugar consumption.

As a result, there is a surging demand for carbonated beverages that provide reduced or zero-calorie options. To meet this demand, manufacturers are introducing a diverse range of calorie-free or low-calorie carbonated beverages, catering to the preferences of health-conscious consumers. For instance, on January 31, 2023, Food & Drink International launched a new low-calorie product, tapping into the growing demand for healthier options.

Strict Limitations on the Usage of Plastic are Hampering the Market Growth.

Strict regulations and limitations on the use of plastic are impeding the market growth of carbonated beverages. Government and regulatory bodies are imposing restrictions to address environmental concerns and reduce plastic waste. These regulations directly affect the industry since carbonated beverages are often packaged in plastic bottles.

To comply with the rules, beverage manufacturers are compelled to explore environmentally friendly alternative packaging solutions, such as recyclable materials or biodegradable options. This shift towards eco-friendly packaging presents challenges for the market but also opportunities for innovation and sustainability in the carbonated beverage industry.

COVID-19 Impact Analysis

The COVID-19 Analysis includes Pre-COVID Scenario, COVID Scenario and Post-COVID Scenario along with Pricing Dynamics (Including pricing change during and post-pandemic comparing it with pre-COVID scenarios), Demand-Supply Spectrum (Shift in demand and supply owing to trading restrictions, lockdown and subsequent issues), Government Initiatives (Initiatives to revive market, sector or Industry by Government Bodies) and Manufacturers Strategic Initiatives (What manufacturers did to mitigate the COVID issues will be covered here).

Artificial Intelligence Analysis

AI technology plays a significant role in the carbonated beverage industry, offering various applications for improved production, analysis, and customer engagement. One notable AI technology is machine learning, which uses algorithms to analyze large datasets and identify patterns. Machine learning can predict consumer preferences, optimize production processes, and develop new flavors based on market trends and sensory data.

Natural language processing (NLP) enables the analysis of customer reviews, social media posts, and surveys to understand consumer sentiments and preferences. Image recognition technology utilizes computer vision algorithms to inspect packaging quality, ensuring visual integrity and identifying defects.

Segment Analysis

The Global Carbonated Beverages Market is segmented based on type, flavor, distribution channel and region.

Citrus Segment Accounts Sizable Share in the Global Carbonated Beverages Market

Citrus carbonated beverages are carbonated drinks that feature citrus fruits' refreshing and tangy flavors. These beverages are typically infused with the essence or extracts of citrus fruits such as lemon, lime, orange, grapefruit, or a combination of these flavors. The citrusy taste profile provides a zesty and invigorating experience, making them popular among consumers who enjoy vibrant and refreshing beverages.

Citrus carbonated beverages are available in various forms, including traditional sodas, sparkling water with citrus flavors, and mixed citrus fruit blends. They offer a delightful balance of sweetness and acidity, making them a favored choice for those seeking a citrus-infused fizzy drink. For instance, on January 12, 2023, PepsiCo launched "New Citrus-Flavored Soda."

According to a representative from PepsiCo, when describing the flavor of the new soda, Starry, they said it offers enhanced citrus flavors that stay true to the fruit and provide a more aromatic experience. They further explained that Starry delivers a well-balanced, cleaner, and crisp finish compared to Sierra Mist.

Geographical Analysis

North America Holds the Largest Share in the Global Carbonated Beverages Market

The Global Carbonated Beverages Market is segmented by region into North America, South America, Europe, Asia-Pacific, Middle-east and Africa.

North America is a key market for carbonated beverages, including soda and soft drinks. Major players like Coca-Cola, PepsiCo, and Dr. Pepper Snapple Group dominate the market with various flavors and options. For instance, on March 29, 2023, Jack Daniel's & Coca-Cola RTD - a pre-mixed, canned carbonated cocktail first launched in Mexico. However, a trend towards healthier choices, such as low-sugar and sugar-free options, is growing as consumers become more health-conscious.

Government regulations and taxes on sugary drinks also impact the market. Despite the shift towards healthier alternatives, carbonated beverages remain popular in North America, with ongoing product innovation and strong consumer demand.

Competitive Landscape

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.

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 53 Tables, 46 Figures And 195 pages.

Target Audience 2023

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies