Carbonated Beverages Market Size
|Study Period||2018 - 2028|
|Base Year For Estimation||2022|
|Fastest Growing Market||Asia-Pacific|
|Largest Market||North America|
*Disclaimer: Major Players sorted in no particular order
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Carbonated Beverages Market Analysis
The global carbonated beverages market is projected to register a CAGR of 6.5% over the next five years.
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 consumers’ health and wellness concerns in mind. 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 currently more focused on product innovations using natural ingredients, like stevia sweeteners.
The major players are also forming mergers and acquisitions with other companies for product innovations. For instance, in January 2021, the world's leading sparkling water brand, SodaStream, partnered with Bubly to launch a new product, Bubly Drops. The product is available in six different flavors. The carbonated beverage market is expected over the long term due to high advertisements of products, inclination toward easy-to-carry on-the-go food, and busy lifestyles. People these days have become very health conscious and want their beverages to be nutritious and tasty. Also, the major players have been focusing on biodegradable packaging materials due to their concern about the environment. For instance, in July 2022, Coca-Cola's brand Dasani is likely to serve its products in 100% recycled plastic in North America.
Carbonated Beverages Market Trends
This section covers the major market trends shaping the Carbonated Beverages Market according to our research experts:
Growing Demand for Low/Zero Calorie Carbonated Drinks
Carbonated beverages have always been popular among consumers. The growing demand for clean-label, gluten-free, low-calorie, and low-carb products 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. For instance, in October 2022, Pepsico announced the relaunch of the Pepsi-Cola Soda Shop with a new limited edition flavor, i.e., Zero-Sugar Cream Soda Cola. 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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North America Dominates the Market
North America dominates the carbonated beverage market globally, followed by Europe, which also holds a significant share in the global carbonated beverages market. The growing demand for processed foods and beverages in the industry is expected to positively impact the regional market. The North American market is driven by factors that include a change in food habits, the increasing youth population in the region, coupled with the growing demand for carbonated beverages. Also, to face new challenges, companies are innovating and developing products while keeping in mind the health and wellness apprehensions of consumers in the region. The market leader, Coca-Cola, upholds a product sustainability approach for continued brand dependability. For instance, in October 2022, the Coca-Cola brand Sprite launched a new zero-sugar Sprite Winter Spiced Cranberry. These factors are driving the growth of the carbonated beverage market in the North American region.
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Carbonated Beverages Industry Overview
The carbonated beverages market is highly competitive, with various international and domestic players. The giants of the global market are progressively relying on product innovation as the most adopted strategy. Recognized brand loyalty is a big aspect of the carbonated beverages industry. Frequent mergers and acquisitions are witnessed across the industry. Some of the key players in the carbonated beverages market globally include the Coca-Cola Company, PepsiCo Inc., and Asahi Group Holdings, among others. The industry has numerous prominent players similar in size and product offerings. Many such leaders are creating new product lines and actively participating in advertising wars. As numerous competitors are equally balanced, competitor rivalry is intense.
Carbonated Beverages Market Leaders
Asahi Group Holdings
The Coca-Cola Company
National Beverage Corp.e
*Disclaimer: Major Players sorted in no particular order
Carbonated Beverages Market News
- In September 2022, Pepsico launched a new zero-sugar Pepsi 18-week pack. The product was launched during the season of football.
- In April 2022, Coca-Cola launched the first Coca-Cola beverage created in the metaverse, i.e., " Coca-Cola Zero Sugar Byte." It is a gaming-inspired product that claims to bring the flavor of pixels to life.
- In May 2021, PepsiCo Inc. launched its latest innovation, Soulboost, a sparkling water beverage with a splash of natural juice and functional ingredients.
Carbonated Beverages Market Report - Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1.3 Fruit Flavored Carbonates
5.1.4 Other Types
5.2 Distribution Channel
5.2.2 Specialty Stores
5.2.3 Convenience Stores
5.2.4 Online Stores
5.2.5 Other Distribution Channels
5.3.1 North America
188.8.131.52 United States
184.108.40.206 Rest of North America
220.127.116.11 United Kingdom
18.104.22.168 Rest of Europe
22.214.171.124 Rest of Asia-Pacific
5.3.4 South America
126.96.36.199 Rest of South America
5.3.5 Middle East and Africa
188.8.131.52 United Arab Emirates
184.108.40.206 South Africa
220.127.116.11 Rest of Middle East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 The Coca-Cola Company
6.3.2 PepsiCo Inc.
6.3.3 Refresco Group
6.3.4 Suntory Holdings Limited
6.3.5 National Beverage Corp.
6.3.6 Asahi Group Holdings
6.3.7 Tru Blu Beverages
6.3.8 F&N Foods Pte Ltd
6.3.9 Bickford's Australia
6.3.10 Parle Agro
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Carbonated Beverages Market Research FAQs
What is the current Carbonated Beverages Market size?
The Carbonated Beverages Market is projected to register a CAGR of 6.5% during the forecast period (2023-2028).
Who are the key players in Carbonated Beverages Market?
PepsiCo Inc., Asahi Group Holdings, Bickford's Australia, The Coca-Cola Company and National Beverage Corp.e are the major companies operating in the Carbonated Beverages Market.
Which is the fastest growing region in Carbonated Beverages Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2023-2028).
Which region has the biggest share in Carbonated Beverages Market?
In 2023, the North America accounts for the largest market share in the Carbonated Beverages Market.
Carbonated Beverages Industry Report
Statistics for the 2023 Carbonated Beverages market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Carbonated Beverages analysis includes a market forecast outlook to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.