Global carbonated beverage market to expand at 2.8% till 2023
The global carbonated beverages market is expected to expand at a compound annual growth rate (CAGR) of 2.8% and reach a market si
January 29, 2019 - According to a Netscribes’ report published on Research on Global Markets, the global carbonated beverages market is expected to expand at a compound annual growth rate (CAGR) of 2.8% and reach a market size of USD 412.5 Bn by 2023.
According to the report, the growth of the global carbonated market is expected to be moderate as the industry has matured in most of the regions in the world. Increasing young consumers in developed and developing countries, increased demand for processed food and beverages and an increase in disposable income has led to an increase in the market for carbonated beverages. Carbonated drinks have carbon dioxide dissolved in them. Carbonated beverages do not contain any alcoholic content, hence they are called soft drinks. The different kinds of carbonated beverages include sparkling drinks, juices, smoothies, ready to drink tea and coffee, functional and concentrated drinks.
Carbonated drinks with low sugar content are becoming popular among the health conscious consumers. Fruit flavored and fruit pulp infused carbonated drinks have gained popularity owing to the recent health awareness around the globe. Obesity among the consumers of carbonated beverages along with environmental damages caused by PET bottles used for packaging of carbonated drinks poses as major challenges to the carbonated beverages industry. Product innovation in the form of using reusable plastic during the packaging process has reduced the production of scrap and strengthened sustainability.
Based on type, sodas dominate the global carbonated beverages market, however, with the increasing awareness regarding the harmful consequences of high sugar intake, low calorie variants of soda or diet soda are becoming popular. Based on the sales channels, the market for carbonated beverages are segmented into hypermarkets, supermarkets, general merchandisers, food services and drinking establishments, convenience stores, and online grocery stores. Europe held approximately 34% of the global carbonated beverages market in 2018, followed by the North American region with a 28% share. The volume of sales has risen in Europe due to the increase in sales of premium quality beverages.
Key highlights of this report:
1. Trends in the global carbonated beverages market.
2. Market attractiveness analysis, and geography-wise market revenue (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa)
3. Qualitative analysis of the global drivers and challenges affecting the market and its segments
4. Market segmentation based on type (standard, diet, fruit flavor carbonates, and others) - historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), and key market observations
5. Market segmentation based on sales channels (hypermarkets and supermarkets and general merchandisers, food service and drinking establishments, convenience stores, vending machine operations, and others)- historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), and key market observations
6. Detailed analysis of the key developments and major innovations in the market
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