PUBLISHER: 360iResearch | PRODUCT CODE: 1500290
PUBLISHER: 360iResearch | PRODUCT CODE: 1500290
[192 Pages Report] The Non-Carbonated Soft Drinks Market size was estimated at USD 313.03 billion in 2023 and expected to reach USD 335.60 billion in 2024, at a CAGR 7.36% to reach USD 514.96 billion by 2030.
Non-carbonated soft drinks are beverages that do not contain carbon dioxide. Unlike their fizzy counterparts, these drinks are still in nature and include various categories such as juices, iced teas, sports drinks, and bottled water. These drinks often appeal to consumers looking for healthier, less sugary alternatives or flavors not usually found in carbonated beverages. Growing awareness of health concerns associated with high sugar and artificial additives commonly found in carbonated drinks drives consumers to opt for non-carbonated options, driving the market growth. The availability of various flavors and types of non-carbonated drinks, including herbal teas and natural fruit juices, is expanding the market scope. Rapid lifestyle changes toward more health-conscious choices, particularly in urban areas, increase the demand for non-carbonated beverages that support an active and health-oriented lifestyle. Additionally, innovations in packaging and marketing by brands, emphasizing the natural ingredients and health benefits, help boost the market's growth. False perceptions about the health benefits of certain non-carbonated beverages hamper the market growth. Increasing customization and premiumization of non-carbonated soft drinks with rising innovations in flavors are expected to create opportunities for market growth.
KEY MARKET STATISTICS | |
---|---|
Base Year [2023] | USD 313.03 billion |
Estimated Year [2024] | USD 335.60 billion |
Forecast Year [2030] | USD 514.96 billion |
CAGR (%) | 7.36% |
Regional Insights
In the Americas, non-carbonated soft drinks encompass a variety of beverages such as fruit juices, bottled water, sports drinks, and tea and coffee beverages. The rising demand for healthier drink options as consumers in the region increasingly prefer beverages with low sugar levels and natural ingredients is creating a platform for the non-carbonated soft drinks market in the Americas. The rising trend towards health and wellness continues to drive the demand for non-carbonated soft drinks. South America also grows with rising health awareness among consumers, boosting the demand for non-carbonated soft drinks. The APAC region is continuously growing in the non-carbonated drinks market due to increasing urbanization and rising disposable income, particularly in countries such as China and India. The market is diverse, from traditional herbal drinks in countries such as Japan and Korea to tropical fruit juices in Southeast Asia. Consumer preferences shifting towards health-consciousness, particularly post-COVID-19, have made these drinks more popular. In Europe, there is a strong preference for premium, non-carbonated soft drinks, with consumers willing to pay higher prices for products that offer health benefits, such as organic or all-natural ingredients. The Middle East and Africa are experiencing growth, primarily due to the growing middle class and a younger population seeking healthier beverage alternatives in these regions.
Market Insights
The market dynamics represent an ever-changing landscape of the Non-Carbonated Soft Drinks Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.
FPNV Positioning Matrix
The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Non-Carbonated Soft Drinks Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
Market Share Analysis
The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Non-Carbonated Soft Drinks Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
Recent Developments
Varun Beverages Initiates Commercial Production at Gorakhpur Unit Amidst Fluctuating Stock Performance
Varun Beverages Ltd, a major global PepsiCo franchisee, commenced commercial production at its new facility in Gorakhpur, Uttar Pradesh. The company announced that it began manufacturing carbonated soft drinks and energy drinks, aligning with the company's ongoing expansion strategy in the region. [Published On: 2024-04-15]
Varun Beverages Expands Its Footprint in Africa with Strategic Acquisition of The Beverage Company
Varun Beverages, a major PepsiCo India franchisee, has agreed to acquire The Beverage Company (Bevco), a South African firm, in a strategic move to bolster its presence in the African market. This acquisition enhances Varun Beverages' distribution network and also aligns with its goal to expand its geographical footprint, especially in regions characterized by rapid urbanization and increasing affluence. [Published On: 2024-01-26]
Molson Coors Launches Non-Carbonated Spiked Beverage Targeting Gen Z Preferences
Molson Coors launched their new product, "Happy Thursday," a non-carbonated spiked refresher tailored to the preferences of Generation Z consumers. "Happy Thursday" is designed based on feedback from a Gen Z panel, with the focus on avoiding the bloating and discomfort often associated with carbonated drinks. "Happy Thursday" is designed based on feedback from a Gen Z panel, with the focus on avoiding the bloating and discomfort often associated with carbonated drinks [Published On: 2023-10-10]
Strategy Analysis & Recommendation
The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Non-Carbonated Soft Drinks Market. This critical assessment involves a thorough analysis of the organization's resources, capabilities, and overall performance to identify its core strengths and areas for improvement.
Key Company Profiles
The report delves into recent significant developments in the Non-Carbonated Soft Drinks Market, highlighting leading vendors and their innovative profiles. These include AriZona LLC, Dabur Ltd., Fentimans Ltd., Franklin & Sons Ltd., Hint Inc., ITC Limited, kayu Foodlabs, Keurig Dr Pepper Inc., Monster Energy Company, National Beverage Corp., Nestle SA, Paper Boat Foods by Hector Beverages Private Limited, Parle Agro Pvt. Ltd., Pepsico, Inc., Raw Pressery, Red Bull GmbH, Saratoga Spring Water Co., Spindrift Beverage Co., Inc., Storia Foods, Talking Rain Beverage Company, Tasty Nibbles, Tata Consumer Products Limited, The Coca-Cola Company, The Kraft Heinz Company, The Vita Coco Company, Inc., and Unilever PLC.
Market Segmentation & Coverage
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