Soft drinks are a type of nonalcoholic beverage that is usually but not always carbonated and contains a natural or artificial sweetener, edible acids, natural or artificial flavors and, in some cases, juice.
The soft drinks market consists of sales, by entities (organizations, sole traders and partnerships), of soft drinks that are primarily consumed for refreshment and hydration, appealing to individuals across all age groups and demographics.
The global soft drinks market was valued at $366,299.75 million in 2018 which grew till 2023 at a compound annual growth rate (CAGR) of more than 3.0%.
Increase In Health-Conscious Consumers
The increase in health-conscious consumers drove the market for soft drinks during the historic period. As consumers became more mindful of their dietary choices, there was an increasing demand for healthier alternatives within the beverage industry. This led to the rise of low-calorie, natural soft drinks, such as flavored sparkling waters or fruit juice. Soft drink manufacturers responded to this shift by reformulating their products to reduce sugar content, introducing new flavors and incorporating natural ingredients. In August 2022, according to research by Koninklijke DSM N.V, a Netherlands-based company focused on health and nutrition, worldwide, 60% of consumers stated that the COVID-19 pandemic made them more conscious of preventing health problems by leading a healthy lifestyle. Therefore, the increase in health-conscious consumers contributed to the growth of the soft drinks market.
During the historic period, the soft drinks market was mainly driven by strong economic growth in emerging markets. The economic growth of developing countries led to a growth in the food and beverage sector, supporting the demand for soft drinks.
Launch Of Zero Sugar Soft Drinks To Cater To Shifting Consumer Preferences
Companies are focusing on the launch of zero-sugar soft drinks to cater to consumer demand for healthier beverage choices. These offerings provide the same refreshing flavor profile without the added sugar, thereby catering to health-conscious individuals aiming to decrease their sugar consumption. For example, in January 2024, the Coca-Cola Company, a US-based beverage and carbonated soft drink manufacturing company, through a line of sports performance and hydration beverages, BodyArmor, launched a zero-sugar product initially available in four flavors, Fruit Punch, Lemon Lime, Orange and Cherry Lime. The latest addition, BodyArmor Zero Sugar, is aimed at tapping into the rapidly expanding no-sugar segment within the sports drinks market. Additionally, in January 2023, PepsiCo, Inc., a US-based food, snack and beverage corporation, announced the launch of a new and improved Pepsi Zero Sugar. The enhanced Pepsi Zero Sugar recipe incorporates a novel sweetener system, resulting in a more invigorating and robust taste compared to its predecessor, the previous Pepsi Zero Sugar variant.
The global soft drinks market is fairly fragmented, with a large number of players operating in the market. The top ten competitors in the market made up 19.06% of the total market in 2022.
Soft Drinks Global Market Opportunities And Strategies To 2033 from The Business Research Company provides the strategists; marketers and senior management with the critical information they need to assess the global soft drinks market as it emerges from the COVID-19 shut down.
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Where is the largest and fastest-growing market for soft drinks market? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The soft drinks market global report from The Business Research Company answers all these questions and many more.
The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market's history and forecasts market growth by geography. It places the market within the context of the wider soft drinks market; and compares it with other markets.
The report covers the following chapters
Introduction And Market Characteristics - Brief introduction to the segmentations covered in the market, definitions and explanations about the segment by product, by flavors and by distribution channels.
Key Trends - Highlights the major trends shaping the global market. This section also highlights likely future developments in the market.
Macro-Economic Scenario The report provides an analysis of the impact of the COVID-19 pandemic, impact of the Russia-Ukraine war and impact of rising inflation on global and regional markets, providing strategic insights for businesses in the soft drinks market.
Global Market Size and Growth - Global historic (2018-2023) and forecast (2023-2028, 2033F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods.
Regional And Country Analysis - Historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison by region and country.
Market Segmentation - Contains the market values (2018-2023) (2023-2028, 2033F) and analysis for each segment by product, by flavors and by distribution channels in the market. Historic (2018-2023) and forecast (2023-2028) and (2028-2033) market values and growth and market share comparison by region market.
Regional Market Size And Growth - Regional market size (2023), historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each region.
Competitive Landscape - Details on the competitive landscape of the market, estimated market shares and company profiles of the leading players.
Competitive Benchmarking - Briefs on the financials comparison between major players in the market.
Competitive Dashboard - Briefs on competitive dashboard of major players.
Key Mergers And Acquisitions- Information on recent mergers and acquisitions in the market covered in the report. This section gives key financial details of mergers and acquisitions, which have shaped the market in recent years.
Market Opportunities And Strategies- Describes market opportunities and strategies based on findings of the research, with information on growth opportunities across countries, segments and strategies to be followed in those markets.
Conclusions And Recommendations- This section includes recommendations for soft drinks providers in terms of product/service offerings geographic expansion, marketing strategies and target groups.
Appendix - This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report.
Scope
Markets Covered:
1) By Product: Carbonated Soft Drinks; Juices And Juice Concentrates; Bottled Water; Ready-To-Drink (RTD) Tea; Coffee; Other Products
2) By Flavors : Cola; Citrus; Other Flavors
3) By Distribution Channel: Supermarkets; Hypermarkets, Convenience Stores, Online Stores; Other Distribution Channels
Companies Mentioned: PepsiCo, Inc.; Keurig Dr Pepper Inc; Red Bull GMBH; The Coca-Cola Company; Asahi Group Holdings Ltd
Countries: China; Australia; India; Indonesia; Japan; South Korea; USA; Brazil; Canada; France; Germany; UK; Italy; Spain; Russia
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time-series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; soft drinks indicators comparison.
Data segmentations: country and regional historic and forecast data; market share of competitors; market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Table of Contents
1 Executive Summary
1.1 Soft Drinks - Market Attractiveness And Macro economic Landscape
2 Table Of Contents
3 List Of Tables
4 List Of Figures
5 Report Structure
6 Market Characteristics
6.1 General Market Definition
6.2 Summary
6.3 Soft Drinks Market Definition And Segmentations
6.4 Market Segmentation By Product
6.4.1 Carbonated Soft Drinks
6.4.2 Juices And Juice Concentrates
6.4.3 Bottled Water
6.4.4 Ready-To-Drink (RTD) Tea And Coffee
6.4.5 Functional Drinks
6.5 Market Segmentation By Flavors
6.5.1 Cola
6.5.2 Citrus
6.5.3 Other Flavors
6.6 Market Segmentation By Distribution Channel
6.6.1 Supermarkets And Hypermarkets
6.6.2 Convenience Stores
6.6.3 Online Stores
6.6.4 Other Distribution Channels
7 Major Market Trends
7.1 Launch Of Zero Sugar Soft Drinks To Cater To Shifting Consumer Preferences
7.2 Development Of Eco-Friendly Packaging For Soft Drinks To Achieve Sustainability Goals
7.3 Focus On Use Of AI Technology To Gain Insights
7.4 Introduction Of New Soft Drinks To Expand Product Offerings
7.5 Strategic Partnerships And Collaborations Among Players To Strengthen Manufacturing and Distribution Agreements
8 Soft Drinks Market - Macro Economic Scenario
8.1 COVID-19 Impact On The Soft Drinks Market
8.2 Impact Of The War In Ukraine On The Soft Drinks Market
8.3 Impact Of High Inflation On The Soft Drinks Market
9 Global Market Size and Growth
9.1 Market Size
9.2 Historic Market Growth, 2018 - 2023, Value ($ Million)