PUBLISHER: The Business Research Company | PRODUCT CODE: 1478535
PUBLISHER: The Business Research Company | PRODUCT CODE: 1478535
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.
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.
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.