Press release
Soft Drinks Global Market Size, Share, Emerging Trends, Growth Drivers, Analysis, Report and Forecast 2024-2033 | PepsiCo. Inc., Nestle S.A., Keurig Dr Pepper Inc., Red Bull GmbH, Postobon S.A.
Soft Drinks Global Market
The Business Research Company offers in-depth market insights through Soft Drinks Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The soft drinks market size has grown strongly in recent years. It will grow from $440.96 billion in 2023 to $465.57 billion in 2024 at a compound annual growth rate (CAGR) of 5.6%. The growth in the historic period can be attributed to carbonated soft drinks (csd) dominance, convenience and on-the-go lifestyle, marketing and branding, affordability and widespread availability, flavor innovation.
The soft drinks market size is expected to see steady growth in the next few years. It will grow to $565.82 billion in 2028 at a compound annual growth rate (CAGR) of 5.0%. The growth in the forecast period can be attributed to health and wellness trends, sustainability practices, premiumization and craft soft drinks, reduced sugar and functional ingredients, cultural and regional flavors, innovative packaging. Major trends in the forecast period include low/no-calorie and sugar-free options, premium and craft soft drinks, sustainable packaging and practices, diversification of flavors and ingredients, alternative and sustainable sweeteners.
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Market Segmentation:
The soft drinks market covered in this report is segmented -
1) By Product: Carbonated Soft Drinks, Juices And juice concentrates, Bottled Water, Ready-To-Drink (RTD) Tea And Coffee, Other Products
2) By Flavors: Cola, Citrus, Other Flavors
3) By Distribution Channel: Offline, Online
4) By Application: Supermarket, Convenience Store, Online Stores, Other Applications
Major Driver - Increased Demand For Food And Beverages Fuels Growth In The Soft Drink Market
The rise in demand for food and beverages is expected to propel the growth of the soft drink market going forward. The food and beverage sector encompasses all organizations that process, package, and distribute raw food products. Consumers are preferring beverages with healthier and ready-to-eat options with different flavors, as a result, the expansion of the food and beverage sector boosts the growth of the soft drinks market. For instance, in December 2022, according to a report published by FoodDrinkEurope, a Food industry confederation in the European Union, the EU food and drink industry turnover was €1,121 billion ($1185.74 billion) in 2022 up from €1,093 billion ($1157 billion) in 2021. Therefore, the rise in demand for food and beverages is driving the growth of the soft drink market.
Competitive Landscape:
Major companies operating in the soft drinks market report are Pepsico. Inc., Nestle S.A., The Coca-Cola Company, Keurig Dr Pepper Inc., Red Bull GmbH, Monster Energy Company, Asahi Group Holdings Ltd., Danone S.A., Kirin Brewery Company Limited, National Beverage Corp., Arizona Beverage Company, Del Monte Pacific Ltd., Mondelez International Inc., Parle Agro Pvt Ltd., Postobon S.A., Purity Soft Drinks Ltd., Britvic plc, Suntory Holdings Limited, Cott Corporation, Big Red Inc., Faygo Beverages Inc., Jones Soda Co., Polar Beverages, Royal Crown Cola International, Shasta Beverages Inc., Sodastream International Ltd., The Boston Beer Company, The J.M. Smucker Company, Talking Rain Beverage Co., Ajegroup .
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Top Trend - Key Players Introducing Innovative Products To Strengthen Their Positions
Product innovation is a key trend gaining popularity in the soft drink market. Major companies operating in the soft drink industry are focused on developing innovative solutions to strengthen their position in the market. For instance, in January 2023, PepsiCo Inc., a US-based food, snack, and beverage corporation, launched a new product called STARRY, which is a lemon-lime flavored soda. Starry is caffeine-free and available in a variety of sizes to provide a refreshing burst of lemon-lime flavor for every occasion that is easy to drink, perfectly sweet, and provides an exceptional taste and flavor experience. Additionally, it has stronger, higher-level citrus flavors that are true to the fruit and more aromatic, which deliver a more balanced, cleaner, crisp finish than sierra mist.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Soft Drinks Market Characteristics
3. Soft Drinks Market Trends And Strategies
4. Soft Drinks Market - Macro Economic Scenario
5. Soft Drinks Market Size And Growth
…..
27. Soft Drinks Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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