North America Carbonated Soft Drinks Market Forecast to 2031 - Regional Analysis - by Flavor Type, Category, Packaging Type, and End User

Description

List of Tables

The North America carbonated soft drinks market was valued at US$ 1,03,593.73 million in 2023 and is expected to reach US$ 1,59,228.03 million by 2031; it is estimated to register a CAGR of 5.5% from 2023 to 2031.

Rising Consumption of Carbonated Soft Drinks Among the Millennial and Gen Z Population Fuels North America Carbonated Soft Drinks Market

According to the World Economic Forum, there are 1.8 billion millennials around the world, equal to 23% of the global population. These younger demographics have embraced carbonated soft drinks not just as a refreshment but also as a lifestyle choice and a means of socializing. The variety of flavors and options, from classic sodas to innovative flavored variants, offered by beverage companies, catering to the diverse tastes of millennials and Gen Z, is a major factor driving demand for carbonated soft drinks. Moreover, the rise of social media has played a crucial role in fueling the popularity of carbonated soft drinks among these demographics. Further, brands increasingly leverage social media platforms such as Instagram and TikTok to showcase their products in creative and engaging ways, effectively reaching and resonating with younger consumers who are highly active on these platforms. For instance, in February 2024, The Coca-Cola Company launched Happy Tears Zero Sugar, a limited-edition beverage available solely through TikTok's emerging e-commerce platform, TikTok Shop. This approach fosters a sense of connection and community, driving engagement and loyalty among millennials and Gen Z. The creative and sharable content associated with these launches sparks conversations and drives word-of-mouth promotion, further fueling the demand for carbonated soft drinks.

Carbonated soft drinks are also readily available in supermarkets, convenience stores, and vending machines, making them easily accessible to millennials and Gen Z, who value convenience in their fast-paced lifestyles. Through a combination of flavor innovation, social media influence, convenience, and cultural resonance, these fizzy beverages have cemented their status as staples in the lives of today's younger generations, driving the market to new heights of growth.

North America Carbonated Soft Drinks Market Overview

North America is one of the largest markets globally, with the US and Canada leading in consumption rates. Carbonated soft drinks are readily available in various formats, including bottles, cans, and fountain drinks, making them easily accessible for consumers on the go. North America encompasses a wide range of iconic brands such as Coca-Cola Company, PepsiCo, Keurig Dr Pepper, Refresco, and National Beverage Corporation and flavors, catering to diverse consumer preferences. Additionally, the variety of flavors and brands appeals to diverse consumer preferences, contributing to sustained demand.

Carbonated soft drinks often serve as affordable indulgences or treats for consumers, providing a refreshing and enjoyable beverage option, particularly during social gatherings or meals. This affordability factor makes them popular choices among consumers of all demographics, including families, teenagers, and young adults. Furthermore, aggressive marketing and promotional strategies by major beverage companies help maintain and even increase demand for carbonated soft drinks.

These companies are heavily investing in advertising campaigns, sponsorships, and endorsements to keep their brands top-of-mind and drive consumer engagement. Furthermore, the growing popularity of outdoor dining in North America presents a significant opportunity for the carbonated soft drinks market. As the region experiences continuous growth in restaurants, cafes, fast-food chains, and other food service establishments, the demand for beverages to accompany meals is also on the rise. According to the National Restaurant Association, the US's food service industry is forecast to reach US$ 1 trillion in sales in 2024. Additionally, 52% of consumers-including 67% of millennials and 63% of Gen Z adults-prefer ordering takeout from a restaurant as an essential part of their lifestyle, further showing restaurants' profound impact on consumers' lives. Carbonated soft drinks, with their versatility, variety of flavors, and widespread appeal, are well-positioned to capitalize on this trend.

North America Carbonated Soft Drinks Market Revenue and Forecast to 2031 (US$ Million)

North America Carbonated Soft Drinks Market Segmentation

The North America carbonated soft drinks market is categorized into flavor type, category, packaging type, end user, and country.

Based on flavor type, the North America carbonated soft drinks market is segmented into cola, orange, lemonade, ginger, and others. The cola segment held the largest North America carbonated soft drinks market share in 2023.

In terms of category, the North America carbonated soft drinks market is bifurcated into sugar-free and conventional. The conventional segment held a larger North America carbonated soft drinks market share in 2023.

By packaging type, the North America carbonated soft drinks market is bifurcated into bottles and cans. The bottles segment held a larger North America carbonated soft drinks market share in 2023.

Based on end user, the North America carbonated soft drinks market is categorized into on-trade and off-trade. The on-trade segment held a larger North America carbonated soft drinks market share in 2023.

Based on country, the North America carbonated soft drinks market is categorized into the US, Canada, and Mexico. The US dominated the North America carbonated soft drinks market share in 2023.

The Coca-Cola Co, PepsiCo Inc, Red Bull, Fevertree Drinks Plc, Monster Beverage Corp, Britvic Plc, Keurig Dr Pepper Inc, Refresco Group, and Asahi Group Holdings Ltd are some of the leading companies operating in the North America carbonated soft drinks market.

Product Code: BMIRE00031178

1. Introduction

1.1 The Insight Partners Research Report Guidance
1.2 Market Segmentation

2. Executive Summary

2.1 Key Insights
2.2 Market Attractiveness

3. Research Methodology

3.1 Secondary Research
3.2 Primary Research
- 3.2.1 Hypothesis formulation:
- 3.2.2 Macro-economic factor analysis:
- 3.2.3 Developing base number:
- 3.2.4 Data Triangulation:
- 3.2.5 Country level data:

4. North America Carbonated Soft Drinks Market Landscape

4.1 Overview
4.2 Porters Five Forces Analysis
- 4.2.1 Bargaining Power of Suppliers
- 4.2.2 Bargaining Power of Buyers
- 4.2.3 Threat of New Entrants
- 4.2.4 Competitive Rivalry
- 4.2.5 Threat of Substitutes
4.3 Ecosystem Analysis
- 4.3.1 Raw Material Suppliers
- 4.3.2 Manufacturers
- 4.3.3 Distributors/Suppliers
- 4.3.4 End Users
- 4.3.5 List of Vendors in the Value Chain

5. North America Carbonated Soft Drinks Market - Key Market Dynamics

5.1 Market Drivers
- 5.1.1 Rising Consumption of Carbonated Soft Drinks Among the Millennial and Gen Z Population
- 5.1.2 Growing Strategic Initiatives by Key Players
5.2 Market Restraints
- 5.2.1 Negative Effects of Carbonated Soft Drinks on Health
5.3 Market Opportunities
- 5.3.1 Increasing Preference for Sugar-Free and Zero-Calorie Carbonated Soft Drinks
5.4 Future Trends
- 5.4.1 Rising Demand for Premium Carbonated Soft Drinks
5.5 Impact Analysis

6. Carbonated Soft Drinks Market - North America Analysis

6.1 North America Carbonated Soft Drinks Market Revenue (US$ Billion), 2021-2031
6.2 North America Carbonated Soft Drinks Market Forecast Analysis

7. North America Carbonated Soft Drinks Market Analysis - by Flavor Type

7.1 Cola
- 7.1.1 Overview
- 7.1.2 Cola: Carbonated Soft Drinks Market - Revenue and Forecast to 2031 (US$ Billion)
7.2 Orange
- 7.2.1 Overview
- 7.2.2 Orange: Carbonated Soft Drinks Market - Revenue and Forecast to 2031 (US$ Billion)
7.3 Lemonade
- 7.3.1 Overview
- 7.3.2 Lemonade: Carbonated Soft Drinks Market - Revenue and Forecast to 2031 (US$ Billion)
7.4 Ginger
- 7.4.1 Overview
- 7.4.2 Ginger: Carbonated Soft Drinks Market - Revenue and Forecast to 2031 (US$ Billion)
7.5 Others
- 7.5.1 Overview
- 7.5.2 Others: Carbonated Soft Drinks Market - Revenue and Forecast to 2031 (US$ Billion)

8. North America Carbonated Soft Drinks Market Analysis - by Category

8.1 Sugar-free
- 8.1.1 Overview
- 8.1.2 Sugar-free: Carbonated Soft Drinks Market - Revenue and Forecast to 2031 (US$ Billion)
8.2 Conventional
- 8.2.1 Overview
- 8.2.2 Conventional: Carbonated Soft Drinks Market - Revenue and Forecast to 2031 (US$ Billion)

9. North America Carbonated Soft Drinks Market Analysis - by Packaging Type

9.1 Bottles
- 9.1.1 Overview
- 9.1.2 Bottles: Carbonated Soft Drinks Market - Revenue and Forecast to 2031 (US$ Billion)
9.2 Cans
- 9.2.1 Overview
- 9.2.2 Cans: Carbonated Soft Drinks Market - Revenue and Forecast to 2031 (US$ Billion)

10. North America Carbonated Soft Drinks Market Analysis - by End User

10.1 On-Trade
- 10.1.1 Overview
- 10.1.2 On-Trade: Carbonated Soft Drinks Market - Revenue and Forecast to 2031 (US$ Billion)
10.2 Off-Trade
- 10.2.1 Overview
- 10.2.2 Off-Trade: Carbonated Soft Drinks Market - Revenue and Forecast to 2031 (US$ Billion)

11. North America Carbonated Soft Drinks Market - Country Analysis

11.1 North America
- 11.1.1 North America: Carbonated Soft Drinks Market Breakdown, by Key Countries, 2023 and 2031 (%)
  - 11.1.1.1 North America: Carbonated Soft Drinks Market - Revenue and Forecast Analysis - by Country
  - 11.1.1.2 US: Carbonated Soft Drinks Market - Revenue and Forecast to 2031 (US$ Billion)
    - 11.1.1.2.1 US: Carbonated Soft Drinks Market Breakdown, by Flavor Type
    - 11.1.1.2.2 US: Carbonated Soft Drinks Market Breakdown, by Category
    - 11.1.1.2.3 US: Carbonated Soft Drinks Market Breakdown, by Packaging Type
    - 11.1.1.2.4 US: Carbonated Soft Drinks Market Breakdown, by End User
  - 11.1.1.3 Canada: Carbonated Soft Drinks Market - Revenue and Forecast to 2031 (US$ Billion)
    - 11.1.1.3.1 Canada: Carbonated Soft Drinks Market Breakdown, by Flavor Type
    - 11.1.1.3.2 Canada: Carbonated Soft Drinks Market Breakdown, by Category
    - 11.1.1.3.3 Canada: Carbonated Soft Drinks Market Breakdown, by Packaging Type
    - 11.1.1.3.4 Canada: Carbonated Soft Drinks Market Breakdown, by End User
  - 11.1.1.4 Mexico: Carbonated Soft Drinks Market - Revenue and Forecast to 2031 (US$ Billion)
    - 11.1.1.4.1 Mexico: Carbonated Soft Drinks Market Breakdown, by Flavor Type
    - 11.1.1.4.2 Mexico: Carbonated Soft Drinks Market Breakdown, by Category
    - 11.1.1.4.3 Mexico: Carbonated Soft Drinks Market Breakdown, by Packaging Type
    - 11.1.1.4.4 Mexico: Carbonated Soft Drinks Market Breakdown, by End User

12. Competitive Landscape

12.1 Heat Map Analysis by Key Players
12.2 Company Positioning & Concentration

13. Industry Landscape

13.1 Overview
13.2 Market Initiative
13.3 Merger and Acquisition

14. Company Profiles

14.1 The Coca-Cola Co
- 14.1.1 Key Facts
- 14.1.2 Business Description
- 14.1.3 Products and Services
- 14.1.4 Financial Overview
- 14.1.5 SWOT Analysis
- 14.1.6 Key Developments
14.2 PepsiCo Inc
- 14.2.1 Key Facts
- 14.2.2 Business Description
- 14.2.3 Products and Services
- 14.2.4 Financial Overview
- 14.2.5 SWOT Analysis
- 14.2.6 Key Developments
14.3 Red Bull
- 14.3.1 Key Facts
- 14.3.2 Business Description
- 14.3.3 Products and Services
- 14.3.4 Financial Overview
- 14.3.5 SWOT Analysis
- 14.3.6 Key Developments
14.4 Fevertree Drinks Plc
- 14.4.1 Key Facts
- 14.4.2 Business Description
- 14.4.3 Products and Services
- 14.4.4 Financial Overview
- 14.4.5 SWOT Analysis
- 14.4.6 Key Developments
14.5 Monster Beverage Corp
- 14.5.1 Key Facts
- 14.5.2 Business Description
- 14.5.3 Products and Services
- 14.5.4 Financial Overview
- 14.5.5 SWOT Analysis
- 14.5.6 Key Developments
14.6 Britvic Plc
- 14.6.1 Key Facts
- 14.6.2 Business Description
- 14.6.3 Products and Services
- 14.6.4 Financial Overview
- 14.6.5 SWOT Analysis
- 14.6.6 Key Developments
14.7 Keurig Dr Pepper Inc
- 14.7.1 Key Facts
- 14.7.2 Business Description
- 14.7.3 Products and Services
- 14.7.4 Financial Overview
- 14.7.5 SWOT Analysis
- 14.7.6 Key Developments
14.8 Refresco Group
- 14.8.1 Key Facts
- 14.8.2 Business Description
- 14.8.3 Products and Services
- 14.8.4 Financial Overview
- 14.8.5 SWOT Analysis
- 14.8.6 Key Developments
14.9 Asahi Group Holdings Ltd
- 14.9.1 Key Facts
- 14.9.2 Business Description
- 14.9.3 Products and Services
- 14.9.4 Financial Overview
- 14.9.5 SWOT Analysis
- 14.9.6 Key Developments

15. Appendix

15.1 About The Insight Partners