The global carbonated soft drink market is projected to grow at a CAGR of 2.17 % during the forecast period to reach US$56,949.96 million by 2027, from US$48,988.516 million in 2020. Rising disposable income, customer tastes, and a growing population all influence the demand for carbonated soft drinks. There are multiple important players in the sector, all of which are similar in size and product offerings. Many of these firms launch new product lines and engage in advertising wars, propelling the popularity of the market even further. Depending on the target age range, carbonated soft drinks are developed in terms of flavour, appearance, texture, and ingredients. Growing partnerships, acquisitions, and product launches are the major factors propelling the market forward.
The growing e-commerce sector will drive the demand for the carbonated soft drink market during the forecast period.
Pepsi and Kraft Heinz, both in the United Kingdom, have developed DTC websites to sell their products in addition to those available through other channels. Moreover, in May 2021, Britvic, one of Europe's biggest branded soft drink companies, chose Infosys as a strategic end-to-end partner to assist them with fulfilling their strategic transformation roadmap and operations, including apps, cloud infrastructure, service management, and end-user computing. In addition. e-commerce has been more popular than traditional sellers because of its user-friendly interface, low costs, and every day delivery possibilities. For instance, in April 2020, The Coca-Cola Company, the world's largest soft drink company, established collaborations with Jumia, a leading e-commerce platform. Customers benefited from free shipping on some items as a result of the partnership. The collaboration also included supermarkets like Game, which now have e-ordering systems.
Increased partnerships and product launches by key players are also expected to propel growth in the global carbonated soft drink market.
Within the ready-to-drink sector, it has become a growing trend of innovative packaging. As a result, the demand for ready-to-drink beverages is being fueled by convenience trends. For instance, in February 2021, Coca-Cola, a prominent soft drink brand, revealed that they are testing new paper bottles that are environmentally friendly and sustainable, as more and more companies are being held accountable for their contributions to the environment. Similarly, in March 2021, Tenzing, a British energy drink company, became the first soft drink company to include carbon labelling on its bottles.
While carbonated soft drinks are designed to appeal to a wide range of tastes and flavours, they have also been created in recent years to act as functional beverages for health-conscious consumers. For instance, in February 2019, Danone Waters Brazil introduced 4U, a line of premium carbonated drinks and flavoured teas, to suit the country's growing demand for healthy, natural beverages. In addition, major partnerships by key players and sporting events, projects, and organizations are also expected to generate more popularity for carbonated soft drinks, further propelling the market forward. For example, in July 2021, Thums Up, the Coca-Cola Company's soft drink brand, was announced to be a global partner during the Olympic Games in Tokyo. Similarly, in December 2021, AJE, a Peruvian beverage brand, secured a regional sponsorship agreement with Paris Saint-German, a French Ligue 1 club. Volt, the company's energy drink, and Cola, the carbonated soft drink, were the club's official drinks in various nations as part of the agreement.
By region, North America is expected to hold a significant proportion, while Asia Pacific is anticipated to have the fastest growth rate in the global carbonated soft drink market.
The North American region is expected to have the largest share of the global carbonated soft drinks market due to the presence of major players like PepsiCo, The Coca-Cola Company, Keurig Dr Pepper Inc., and more. The growth of the e-commerce industry in this region is expected to have a major influence on the market expansion during the forecast period. For example, according to the US Department of Commerce Retail Indicator Division's quarterly retail e-commerce sales 4th quarter 2021 report, e-commerce sales in the United States totalled $870 billion in 2021, up 14.2% from 2020 and 50.5 percent from 2019. In the United States, e-commerce accounted for 13.2% of total retail sales in 2021. Product innovation is also a major factor driving the growth in this region. For example, in January 2022, The Coca-Cola Company and Constellation Brands Inc. collaborated on the launch of FRESCATM Mixed, a line of full-flavoured, spirit-based ready-to-drink (RTD) cocktails in the United States. FRESCA®, a cherished zero-calorie grapefruit citrus-flavoured soft drink, is The Coca-Cola Company's U.S. soft-drink portfolio's fastest-growing trademark. FRESCATM Mixed, prepared with high-quality spirit bases, will be produced, marketed, and distributed by Constellation Brands later in 2022.
The COVID-19 pandemic had a positive impact on the global carbonated soft drink market. This is due to the surge in the online segment and the increase in product innovations and launches by market players. For instance, in 2020, Keurig Dr Pepper witnessed a 4.27% increase in its carbonated soft drink segment.
|Market size value in 2020||US$48,988.516 million|
|Market size value in 2027||US$56,949.96 million|
|Growth Rate||CAGR of 2.17% from 2020 to 2027|
|Forecast Unit (Value)||USD Million|
|Segments covered||Type, Packaging, Distribution Channel, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||The Coca-Cola Company, PepsiCo, Keurig Dr Pepper, National Beverage Corp., Jones Soda Co., Novamex, Asahi Group Holdings, Ltd., Niagara Bottling, LLC, Hamoud Boualem, Danone S.A.|
|Customization scope||Free report customization with purchase|
Key Market Segments
Frequently Asked Questions (FAQs)
Q1. What is the size of the global carbonated soft drink market?
A1. Carbonated Soft Drink Market was valued at US$48,988.516 million in the year 2020.
Q2. What will be the carbonated soft drink market size by 2027?
A2. The global carbonated soft drink market is projected to reach a market size of US$56,949.96 million by 2027.
Q3. What are the growth prospects for the carbonated soft drink market?
A3. The carbonated soft drink market is projected to grow at a CAGR of 2.17% during the forecast period.
Q4. What factors are anticipated to drive the carbonated soft drink market growth?
A4. The growing e-commerce sector will drive the demand for the carbonated soft drink market during the forecast period.
Q5. Which region holds the maximum market share in the carbonated soft drink market?
A5. North America is expected to have the largest share of the global carbonated soft drinks market due to the presence of major players in the region.
1.1. Market Definition
1.2. Market Segmentation
2. RESEARCH METHODOLOGY
2.1. Research Data
3. EXECUTIVE SUMMARY
3.1. Research Highlights
4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. CARBONATED SOFTS DRINKS MARKET BY TYPE
6. CARBONATED SOFTS DRINKS MARKET BY PACKAGING
6.4. Soda Fountain
7. CARBONATED SOFTS DRINKS MARKET BY DISTRIBUTION CHANNEL
8. CARBONATED SOFTS DRINKS MARKET BY GEOGRAPHY
8.2. North America
8.3. South America
8.4.3. United Kingdom
8.5. The Middle East and Africa
8.5.1. Saudi Arabia
8.6. Asia Pacific
8.6.3. South Korea
9. COMPETITIVE ENVIRONMENT AND ANALYSIS
9.1. Major Players and Strategy Analysis
9.2. Emerging Players and Market Lucrativeness
9.3. Mergers, Acquisitions, Agreements, and Collaborations
9.4. Market Share
10. COMPANY PROFILES
10.1. The Coca-Cola Company
10.3. Keurig Dr Pepper
10.4. National Beverage Corp.
10.5. Jones Soda Co.
10.7. Asahi Group Holdings, Ltd.
10.8. Niagara Bottling, LLC
10.9. Hamoud Boualem
10.10. Danone S.A.
The Coca-Cola Company
Keurig Dr Pepper
National Beverage Corp.
Jones Soda Co.
Asahi Group Holdings, Ltd.
Niagara Bottling, LLC
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