Carbonated Beverages Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Market Overview

The global carbonated beverages market is projected to register a CAGR of 6.5% during the forecast period 2022-2027.

During the COVID-19 pandemic, carbonated drinks saw an increase in grocery channels across the globe from the middle of March 2020 as consumers stockpiled products for an extended period of self-isolation (or quarantine) at home. The trend of work-from-home or stay-at-home created a habit of regular consumption of carbonated beverages in many regions, which positively impacted the market growth.

The carbonated beverages market is one of the matured industries across the globe. In the last few years, the industry has undergone major changes regarding product innovations and offerings. To face the growing market challenges, companies are launching new flavors while keeping in mind consumers’ health and wellness concerns.

Increased government scrutiny of clean labels and ingredients used is expected to act as a market restraint over the forecast period. Owing to consumer health awareness, companies are now more focused on product innovations using natural ingredients, like stevia sweeteners.

Scope of the Report

Carbonated beverages are drinks that have carbon dioxide dissolved in water The carbonated beverages market is segmented by type, distribution channel, and geography. Based on type, the market is segmented into standard, diet, fruit flavored carbonates, and other types. Based on distribution channel, the market is segmented into hypermarkets/supermarkets, specialty stores, convenience stores, online stores, and other distribution channels. Based on geography, the study provides an analysis of the carbonated beverages market in the emerging and established markets across the globe, including North America, Europe, Asia-Pacific, South America, and Middle-East and Africa. For each segment, the market sizing and forecasts have been done based on the value (in USD million).

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Key Market Trends

Growing Demand for Low/Zero Calorie Carbonated Drinks

Owing to busy lifestyles, carbonated beverages have become popular among consumers. The growing demand for clean-label, gluten-free, low-calorie, and low-carb products has led to the growth of the low-calorie carbonated beverages market in the food industry. The growth in the overall functional beverage market and increasing health consciousness among consumers have fuelled the growth of low-calorie drinks. Easy availability of low or zero-calorie drinks in the market, such as in Walmart and convenience stores, has further boosted the market’s growth. Major players are constantly innovating and creating different flavors for zero-calorie drinks to attract more consumers.

Consumer demand for products that are lower in sugar content is increasing as consumers seek low-calorie options. Some countries are using fiscal policies to reduce the consumption of sugary drinks, like adding higher taxes. Public support for such tax increases could be increased if the tax collection is earmarked for efforts to improve health systems, encourage healthier diets, and increase physical activity.

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