Carbonated Beverages Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)

The Report offers detailed study on the Global Carbonated Soft Drinks Market &Industry Analysis and is Segmented by Type (Standard, Diet, Fruit Flavored Carbonates, and Other Types), Distribution Channel (Hypermarkets/Supermarkets, Specialty Stores, Convenience Stores, Online Stores, and Other Distribution Channels), and Geography (North America, Europe, Asia-Pacific, South America, and Middle East and Africa). The report offers market size and values in USD million during the forecast period for the above segments.

Carbonated Beverages Market Size

Carbonated Beverages Market Summary
share button
Study Period 2018 - 2028
Base Year For Estimation 2022
CAGR 6.50 %
Fastest Growing Market Asia-Pacific
Largest Market North America
Market Concentration Low

Major Players

Carbonated Beverages Market Major Players

*Disclaimer: Major Players sorted in no particular order


Need a report that reflects how COVID-19 has impacted this market and its growth?

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.

Carbonated Beverages Market - Market Share of Carbonated Drinks, By Calories, United Kingdom, 2021

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.

Carbonated beverage market : Market Size (%), by Geography, Global, 2021

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

  1. PepsiCo Inc.

  2. Asahi Group Holdings

  3. Bickford's Australia

  4. The Coca-Cola Company

  5. National Beverage Corp.e

*Disclaimer: Major Players sorted in no particular order

Carbonated Beverages Market Concentration

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. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study




    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Porter's Five Forces Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry


    1. 5.1 Type

      1. 5.1.1 Standard

      2. 5.1.2 Diet

      3. 5.1.3 Fruit Flavored Carbonates

      4. 5.1.4 Other Types

    2. 5.2 Distribution Channel

      1. 5.2.1 Hypermarkets/Supermarkets

      2. 5.2.2 Specialty Stores

      3. 5.2.3 Convenience Stores

      4. 5.2.4 Online Stores

      5. 5.2.5 Other Distribution Channels

    3. 5.3 Geography

      1. 5.3.1 North America

        1. United States

        2. Canada

        3. Mexico

        4. Rest of North America

      2. 5.3.2 Europe

        1. United Kingdom

        2. Germany

        3. Spain

        4. France

        5. Italy

        6. Russia

        7. Rest of Europe

      3. 5.3.3 Asia-Pacific

        1. China

        2. Japan

        3. India

        4. Australia

        5. Rest of Asia-Pacific

      4. 5.3.4 South America

        1. Brazil

        2. Argentina

        3. Rest of South America

      5. 5.3.5 Middle East and Africa

        1. United Arab Emirates

        2. South Africa

        3. Rest of Middle East and Africa


    1. 6.1 Most Adopted Strategies

    2. 6.2 Market Share Analysis

    3. 6.3 Company Profiles

      1. 6.3.1 The Coca-Cola Company

      2. 6.3.2 PepsiCo Inc.

      3. 6.3.3 Refresco Group

      4. 6.3.4 Suntory Holdings Limited

      5. 6.3.5 National Beverage Corp.

      6. 6.3.6 Asahi Group Holdings

      7. 6.3.7 Tru Blu Beverages

      8. 6.3.8 F&N Foods Pte Ltd

      9. 6.3.9 Bickford's Australia

      10. 6.3.10 Parle Agro

    4. *List Not Exhaustive

**Subject to Availability

Carbonated Beverages Industry Segmentation

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 channels, the market is segmented into hypermarkets/supermarkets, specialty stores, convenience stores, online stores, and other distribution channels. Based on geography, the market is segmented into North America, Europe, Asia-Pacific, South America, and the Middle East and Africa. For each segment, the market sizing and forecasts have been done based on values in USD million.

Fruit Flavored Carbonates
Other Types
Distribution Channel
Specialty Stores
Convenience Stores
Online Stores
Other Distribution Channels
North America
United States
Rest of North America
United Kingdom
Rest of Europe
Rest of Asia-Pacific
South America
Rest of South America
Middle East and Africa
United Arab Emirates
South Africa
Rest of Middle East and Africa

Report scope can be customized per your requirements. Click here.

You can also purchase parts of this report. Do you want to check out a section wise price list?

Carbonated Beverages Market Research FAQs

The Carbonated Beverages Market is projected to register a CAGR of 6.5% during the forecast period (2023-2028).

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.

Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2023-2028).

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.

80% of our clients seek made-to-order reports. How do you want us to tailor yours?

Please enter a valid email id!

Please enter a valid message!