Carbonated Soft Drinks Global Market Report 2024 | Size, Share, Growth, Trends, Analysis, Forecast, Outlook, Mergers and Acquisitions, Top Major Key Players | 2033 Forecast

The carbonated soft drinks market size has grown steadily in recent years. It will grow from $118.64 billion in 2023 to $122.37 billion in 2024 at a compound annual growth rate (CAGR) of 3.1%. The growth in the historic period can be attributed to consumer demand for convenience, globalization of beverage brands, marketing and branding strategies, lifestyle and on-the-go culture, affordability and accessibility, flavor innovation and variety.

The carbonated soft drinks market size is expected to see steady growth in the next few years. It will grow to $137.23 billion in 2028 at a compound annual growth rate (CAGR) of 2.9%. The growth in the forecast period can be attributed to innovation in low-calorie and functional drinks, sustainability initiatives, rise of craft and artisanal beverages, regulatory measures and sugar taxes, health and wellness trends. Major trends in the forecast period include digital marketing and e-commerce, expansion of flavored and functional beverages, growing interest in premium and artisanal soft drinks, sustainability and eco-friendly packaging practices, rise of premium mixers for cocktails.

Market Overview -
Carbonated soft drinks refer to drinks that contain small bubbles of carbon dioxide. It is a type of non-alcoholic beverage that is prepared with carbonated water and flavoring and is sweetened with sugar or a non-nutritive sweetener.

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Surge In Recreational Activities To Propel Carbonated Soft Drinks Market
A rise in recreational activities is expected to propel the growth of the carbonated soft drinks market going forward. Recreational activities are enjoyable, psychologically or physically stimulating activities that individuals usually plan to undertake in their spare time. Carbonated drinks are utilized during recreational activities to keep people hydrated throughout the day. It also experiments with additives to meet consumers' need for a mental boost. For instance, in October 2021, US Bureau of Labor Statistics, a US-based government agency, time spent on leisure and sports activities increased by 32 minutes per day. Therefore, a rise in recreational activities will drive the carbonated soft drinks market.

Competitive Landscape -
Major companies operating in the carbonated soft drinks market report are PepsiCo Inc., Keurig Dr Pepper Inc., Monster Energy Company, National Beverage Corporation, Jones Soda Co., Refresco Group B.V., Suntory Beverage & Food Limited, Postobon S.A., Parle Agro Private Limited, Britvic Soft Drinks Limited, Asahi Soft Drinks Co.Ltd., The Kraft Heinz Co., Ektam Machinery Co., Q-BEV Sp. z o.o., The Coca-Cola Company, Cheerwine, Crush International, ANADOLU GRUBU A.S., Danone S.A., Cott Corporation, Royal Crown Cola International, Canada Dry, Vernors, SODASTREAM INTERNATIONAL LTD., Schweppes International Limited, Faygo Beverages Inc., Big Red Inc., Nestlé S.A., Molson Coors Beverage Company, Heineken N.V. .

Zero-Sugar Craft Sodas Crafting Refreshing Innovation In The Market
Product innovations are a key trend gaining popularity in the carbonated soft drinks market. Major companies operating in the carbonated soft drink industry are focused on developing innovative solutions to strengthen their position in the market. For instance, in September 2020, Sprecher Brewing Company, a US-based producer of hand-crafted beers and sodas, launched the first all-natural, zero-sugar craft sodas. The zero-sugar sodas maintain Sprecher's handcrafted natural ingredient legacy and feature an exclusive monk fruit, stevia, and erythritol sweetener blend. To make Sprecher sodas even more convenient to drink on-the-go, Sprecher is the only craft beverage to offer this compact can option.

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Key Segments -
The carbonated soft drinks market covered in this report is segmented -
1) By Product: Softdrinks, Carbonated Water, Sports and Energy drinks, Other Products
2) By Flavor: Cola, Citrus, Other Flavors
3) By Packaging: Bottles, Cans
4) By Distribution Channel: Hypermarkets, Supermarkets And Mass Merchandisers, Convenience Stores And Gas Stations, Food Service Outlets, Online Stores And D2C, Other Distribution Channels

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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