Carbonated Beverages Market Outlook
The Carbonated Beverages Market size was USD 442.07 Billion in 2022 and is likely to reach USD 629.20 Billion by 2031, expanding at a CAGR of 4% during 2023 - 2031. The growth of the market is attributed to the increasing preference for soda beverages businesses.
Carbonated beverages are introduced with pressurized carbon dioxide to offer effervescence or fizz in the beverage. Various types of carbonated beverages are available in the market such as carbonated water, tea, smoothies, and juices.
Soft drink intake is usually high in the summer and spring time. The innovation drives the market with introduction of various flavors. However, conventional flavors dominate the carbonated liquids marketplace. They are packaged liquids which are filled in bottles, cans, and PET bottles, and contains no alcohol content.
Carbonated Beverages Market Trends, Drivers, Restraints, and Opportunities
- Increasing prevalence of serving carbonated drinks as a drink in numerous ready-to-eat restaurants and cafes is expected to boost the market growth during the forecast period.
- Increasing younger population in emerging nations and growing disposable income are major factors fueling the market growth in the coming years.
- Growing demand for low sugar and diet carbonated beverages amongst consumers due to growing adoption of healthy lifestyle is driving the market growth during the forecast period.
- Strict guidelines on using plastics can probably restrict the worldwide carbonated beverages market, hampering the market growth.
- Lack of awareness about the excessive sugar content material in carbonated drinks can result in diabetes, obesity, and calcium depletion. However, rising awareness about the essential ingredients can inhibit the market growth during the forecast period.
- Increasing R&D investment and presence of low sugar carbonated beverages can create high revenue opportunities for the market players during the projected timeline.
Scope of Carbonated Beverages Market Report
The report on the global carbonated beverages market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Carbonated Beverages Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Types (Standard, Diet, Fruit Flavored Carbonates, and Others) and Distribution Channels (Supermarkets/Hypermarkets, Specialty Stores, Convenience Stores, Online Stores, and Others)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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The Coca-Cola Company, PepsiCo Inc., Britvic PLC, National Beverage Corp, and F&N Foods Pte Ltd.
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Global Carbonated Beverages Market Segment Insights
Fruit flavored carbonates segment is projected to hold a major market share
Based on types, the market is divided into standard, diet, fruit flavored carbonates, and others. The fruit flavored carbonates segment is expected to represent a key market share during the forecast period owing to busy lifestyles and emergence of ready-to-drink (RTD) drinks. Rising trend of clean-label, gluten-free, low-calorie and low-carb products has caused the elevation of the low-calorie RTD carbonated drinks.
Growing fitness awareness among purchasers has fueled the demand for low-calorie RTD carbonated drinks. For instance, in 2017, Diageo released a low-calorie Seltzer beneath its logo Smirnoff. The corporation additionally provides low-calorie RTD drinks that have low carbohydrates content and uses synthetic sweeteners. Product innovation is one of the prime strategies that maximum organizations are opting to enhance their revenue.
A wide variety of sports activities and power drink producers were including fizz to the beverage to create freshness. In June 2020, VPX Sports released Noo Fusion, a product line of carbonated ready-to-drink pre-exercise drinks, which enhances the performance.
Supermarket segment is anticipated to expand at a substantial CAGR
On the basis of distribution channels, the carbonated beverages market is segmented into supermarkets/hypermarkets, convenience stores, specialty stores, online retail, and others. The supermarkets segment is expected to hold a significant market share during the forecast period. The emergence of a large number of supermarket chains and the changing retail pattern around the world have increased sales of carbonated beverages through supermarket channels.
On the other hand, the convenience stores segment is anticipated to expand at a rapid pace during the forecast period. Nowadays, fast food restaurants and gas stations are selling premium drinks at affordable prices, which is attracting busy consumers by effectively responding to their lifestyles.
North America is expected to dominate the market
In terms of regions, the market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is anticipated to dominate the market during the forecast period, followed by Europe, which occupies a considerable share of the global carbonated beverages market. Increasing demand for convenience foods and beverages are positively influencing the market in the region. However, rising obesity cases reported in the region have led to a continuous decline in demand for more than a decade. The market in Asia Pacific is expected to exhibit a high CAGR during the forecast period.
Segments
The global carbonated beverages market has been segmented on the basis of
Types
- Standard
- Diet
- Fruit Flavored Carbonates
- Others
Distribution Channels
- Supermarkets/Hypermarkets
- Specialty Stores
- Convenience Stores
- Online Stores
- Others
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
Competitive Landscape
Key players competing in the carbonated beverages market include The Coca-Cola Company, PepsiCo Inc., Britvic PLC, National Beverage Corp, and F&N Foods Pte Ltd.
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