Soft Drinks Market Set to Reach $598.26 Billion by 2029 with 5% Yearly Growth

What combination of drivers is leading to accelerated growth in the soft drinks market?
The soft drink market's growth is anticipated to be accelerated by a heightened demand for food and beverages. The food and beverage industry includes all enterprises involved in processing, packaging, and dispersing unprocessed food items. As customers are leaning towards healthier, ready-to-consume beverage choices in varied flavors, the development of the food and beverage industry is directly contributing to the growth of the soft drinks market. For example, a report by FoodDrinkEurope, a confederation of the food industry in the European Union, revealed that the EU food and drink industry's turnover rose from €1,093 billion ($1157 billion) in 2021 to €1,121 billion ($1185.74 billion) in December 2022. Consequently, the escalating demand for food and beverages is fuelling the expansion of the soft drink market.

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What is the projected compound annual growth rate (CAGR) of the soft drinks market from 2025 to 2034, and what factors influence it?
The size of the soft drinks market has significantly expanded in recent years. The market, which was valued at $465.36 billion in 2024, is expected to rise to $491.36 billion in 2025, representing a compound annual growth rate (CAGR) of 5.6%. This growth in the historic period can be attributed to factors such as the dominance of carbonated soft drinks (CSD), the convenience of these products, the 'on-the-go' lifestyle they cater to, effective marketing and branding strategies, affordability, broad availability, and innovation in flavor.

In the coming years, the soft drinks industry size is anticipated to witness robust growth. The market is set to expand to $598.26 billion by 2029, demonstrating a compound annual growth rate (CAGR) of 5.0%. The expansion during this forecast period can be linked to factors such as health and wellness inclinations, sustainable practices, the rise in premium and craft drinks, the reduction of sugar and integration of functional ingredients, the presence of cultural and regional flavors, and inventive packaging. Key trends during this forecast period encompass the emergence of low to no-calorie and sugar-free alternatives, upscale and artisanal soft drinks, environmentally friendly packaging and practices, variety in flavors and ingredients, and the use of alternative, sustainable sweeteners.

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How are the latest trends influencing the growth of the soft drinks market?
Innovation in product offerings is quickly becoming a prominent trend within the soft drink sector. Most prominent entities within the industry are concentrating on crafting creative solutions to consolidate their market position. For instance, in January 2023, PepsiCo Inc., a U.S. based corporation that deals with food, snacks, and drinks, introduced a new product to the market dubbed STARRY. This is a soda with a lemon-lime flavor. Not only is Starry caffeine-free, but it also comes in a range of sizes to offer a refreshing burst of the lemon-lime flavor that is both easy to drink and exceedingly sweet, ensuring an outstanding taste and flavor experience. Furthermore, it possesses robust, high-quality citrus flavors that stay true to the fruit and are highly aromatic, thus ensuring a more balanced, purer, and brisk finish when compared to Sierra Mist.

What are the major segments of the soft drinks market and their role in driving growth?
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: Super market, Convenience Store, Online Stores, Other Applications

Subsegments:
1) By Carbonated Soft Drinks: Regular Sodas, Diet Sodas, Flavored Carbonated Drinks
2) By Juices And Juice Concentrates: 100% Fruit Juices, Fruit-Flavored Drinks, Vegetable Juices
3) By Bottled Water: Spring Water, Mineral Water, Sparkling Water
4) By Ready-To-Drink (RTD) Tea And Coffee: RTD Tea, RTD Coffee
5) By Other Products: Sports Drinks, Energy Drinks, Functional Beverages

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Which regions are key players in the growth of the soft drinks market?
North America was the largest region in the soft drinks market in 2024. The regions covered in the soft drinks market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

Who are the key firms paving the way for growth in the soft drinks market?
Major companies operating in the soft drinks market include Pepsico. Inc., The Coca-Cola Company, Keurig Dr Pepper Inc., Red Bull GmbH, Monster Energy Company, Asahi Group Holdings Ltd., Kirin Brewery Company Limited, National Beverage Corp., Arizona Beverage Company, 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, Talking Rain Beverage Co., Ajegroup

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What Is Covered In The Soft Drinks Global Market Report?

• Market Size Forecast: Examine the soft drinks market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the soft drinks market for a structured understanding.
• Key Players Overview: Analyze major players in the soft drinks market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the soft drinks market.
• Segment Contributions: Evaluate how different segments drive overall growth in the soft drinks market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the soft drinks market.
• Industry Challenges: Identify potential risks and obstacles affecting the soft drinks market.
• Competitive Landscape: Review strategic developments in the soft drinks market, including expansions, agreements, and new product launches.

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