Soft Drink Market

Soft Drink Market size reached USD 237.0 billion in 2022 and is estimated to reach USD 329.4 billion in 2030 and the market is estimated to grow at a CAGR of 4.2% from 2023-2030

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Soft Drink Market Drivers

The accelerating demand for specialty drinks or premium soft drinks as these are formulated at low calorie with low sugar content and have natural sweeteners is the key factor propelling the growth of the global soft drink market. The strong demand for bottled water as well as rising health awareness among the consumers, is further paving the way for the growth of the market. Consumers now prefer to drink beverages made from natural ingredients and have zero or low calories. This factor is presenting new growth opportunities for manufacturers to produce soft drinks with no calories. The introduction of new product by leading vendors, owing to the rising health and wellness trend among consumers has paved the way for market growth. For example, PepsiCo introduced three new cola flavors with the combination of sugar, acesulfame K, and aspartame, with an intent to reduce the sugar content in the product by about 50%. Additionally, growing popularity among the millennials and rising investments in R&D in the food and beverage sector are expected to drive the industry demand.

The rising GDP growth rates, coupled with the increasing disposable income and the growing health concerns of people of the emerging economies, especially China and India are bolstering the growth of the global soft drink market. The emergence of the COVID-19 pandemic will have a positive impact on the demand for soft drinks. The consumers are stock piling their essential products and other food and beverages due to the strict lockdown around the globe. Moreover, the rising emphasis on staying at home and maintaining social distance is further encouraging the consumers to stock their favorite junk food and beverage options to avoid visiting the grocery shops every other day. On the other edge, various strict rules and regulations launched by the government to restrict the marketing activities towards children, labeling, and listing the ingredients on the product may hamper the growth of the market in the upcoming years. Increasing incidences of obesity and obesity-related illnesses, like high blood pressure, diabetes, and joint difficulties, has reduced the demand for soft drinks, which might impede the market growth.

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Product Segment Analysis

Carbonated soft drinks segment is anticipated to lead the market during the forecast period owing to the easy availability of the carbonated soft drinks across all the major distribution channel, including supermarkets, hypermarkets, convenience stores, and online stores. Increasing number of fast-food outlets has stimulated the demand for carbonated soft drinks, driving the market growth.

Ready To Drink tea and coffee drinks segment is predicted to witness a faster CAGR over the forecast period, due to rising working population. The ready to drink come with low sugar content, thus, inclining individuals towards premium drinks, propelling the market growth.

Packaging Segment Analysis

Plastic packaging is anticipated to grow at a higher CAGR during the forecast period. The plastic packaging improves the shelf-life and freshness of the soft drinks and can be easily recycled, which has driven the segment’s size.

Distribution Channel Segment Analysis

Supermarkets is expected to grow a faster CAGR during the forecast period due to the easy availability of superior variety, quality, and convenient pack sizes of soft drinks for end-users in the market. Furthermore, hypermarkets have brand visibility, attractive display portfolios, and extensive cold facilities, which helps in preserving nutrients, flavors, and colors of the beverages.

Online distribution channel is predicted to hold a higher share over the forecast period. The increasing inclination towards online shopping portals and mobile apps for shopping due to simplicity and convenience, is projected to expand the market growth. Moreover, the captivating strategies adopted by online channels like discounts has stimulated the demand for online channels.

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Regional Analysis

North America is anticipated to witness a faster CAGR during the forecast period due to the growing demand for the soft drinks such as carbonated soft drinks, bottled water, juices and juice concentrate, ready to drink tea and coffee and functionals drinks in this region. Furthermore, the increasing consumer preferences and changing lifestyles are further driving the demand for the global soft drinks market. Growing awareness about the health-consciousness concern and acceptance of the natural and organic-ingredient based products to reduce obesity will further surge the global soft drinks market. Manufacturers are aiming to strategize small-size packaging in soft drinks, which in turn, will create new growth opportunities for the market in this region.

Asia Pacific is estimated to hold the highest share in the market over the forthcoming years, due to the accelerating population, rising number of food processing units, and increasing per-capita income. Increasing investments, advent of new products, and the development of new manufacturing plants, are projected to bolster the market growth.

Top Market Players

Various notable players operating in the market include The Coca-Cola Company, PepsiCo, Inc., Danone S.A., Nestle Waters, Red Bull GmbH, Attitude Drinks Inc., Parle Agro Private Limited, DydoDrinco, Acqua Minerale San Benedetto S.p.A., and Dr. Pepper Snapple Group Inc. among others.

Key Developments 

• • In April 2019, Coca-Cola Company introduced ready to drinf coffee i.e., chilled and canned brewed coffee. The company launched in three flavors includes Caramel Latte, Classic Latte and Black Americano.
  • In February 2019, Nestle Waters launched carbonated mineral water through its Pierre brand which will be available in different flavors such as strawberry and kiwi, peach and cherry, pineapple and mango. This carbonated water is mixed with natural flavors such as fruit juices, sugar, among others.

Segments covered in the Report:

The global soft drink market has been segmented based on Product, Packaging, Distribution Channel and Regions. Based on Product, the market is segmented into Carbonated Soft Drinks, Bottled Water, Juices and Juice Concentrate, Ready to Drink Tea and Coffee and Functionals Drinks. Based on the Packaging, the market is segmented into Plastic, Glass, Paperboard and Metal. Based on the Distribution Channel, the market is segmented into Supermarkets, Hypermarkets, Convenience Stores, Online Stores and Others.

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Report Coverage	Details
Market Revenues (2022)	USD 329.4 billion
Market Base Year	2022
Market Forecast Period	2023-2030
Base Year & Forecast Units	Revenues (USD billion)
Market Segment	By Product, By Packaging, By Distribution Channel, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	The Coca-Cola Company, PepsiCo, Inc., Danone S.A., Nestle Waters, Red Bull GmbH, Attitude Drinks Inc., Parle Agro Private Limited, DydoDrinco, Acqua Minerale San Benedetto S.p.A., and Dr. Pepper Snapple Group Inc. among others; a total of 10 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Soft Drink Market by Product

• • Carbonated Soft Drinks
  • Bottled Water
  • Juices and Juice Concentrate
  • Ready to Drink Tea and Coffee
  • Functionals Drinks

Global Soft Drink Market by Packaging

• • Plastic
  • Glass
  • Paperboard
  • Metal

Global Soft Drink Market by Distribution Channel

• • Supermarkets
  • Hypermarkets
  • Convenience Stores
  • Online Stores
  • Others

Global Soft Drink Market by Region

• • North America Soft Drink Market (Option 1: As a part of the free 25% customization)

    • By Product
    • By Packaging
    • By Distribution Channel
    • US Market All-Up
    • Canada Market All-Up

  • Europe Soft Drink Market (Option 2: As a part of the free 25% customization)

    • By Product
    • By Packaging
    • By Distribution Channel
    • UK Market All-Up
    • Germany All-Up Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up

  • Asia-Pacific Soft Drink Market (Option 3: As a part of the free 25% customization)

    • By Product
    • By Packaging
    • By Distribution Channel
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up

  • RoW Soft Drink Market (Option 4: As a part of the free 25% customization)

    • By Product
    • By Packaging
    • By Distribution Channel
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating the Soft Drink (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • The Coca-Cola Company
  • PepsiCo, Inc.
  • Danone S.A.
  • Nestle Waters
  • Red Bull GmbH
  • Attitude Drinks Inc.
  • Parle Agro Private Limited
  • DydoDrinco
  • Acqua Minerale San Benedetto S.p.A.
  • Pepper Snapple Group Inc.