Global Soft Drinks Market Size, Drivers, Trends, Opportunities And Strategies – Includes Soft Drinks Market Segmentation
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
The increased demand for food and beverages is likely to stimulate innovation in soft drink manufacturing, propelling the market during the forecast period.
The global soft drinks market is expected to grow from $437.78 billion in 2022 to $464.88 billion in 2023 at a compound annual growth rate (CAGR) of 6.2%. The global soft drink market size is expected to reach $573.18 billion in 2027 at a CAGR of 5.4%.
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Global Soft Drinks Market Segments Include:
- By Product: Carbonated Soft Drinks, Juices And juice concentrates, Bottled Water, Ready-To-Drink (RTD) Tea And Coffee, Other Products
- By Flavors: Cola, Citrus, Other Flavors
- By Distribution Channel: Offline, Online
- By Application: Supermarket, Convenience Store, Online Stores, Other Applications
- By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America is the largest region in the global soft drinks market in 2021.
Major Market Players in the soft drinks market include Pepsico. Inc., Nestle S.A., The Coca-Cola Company, Keurig Dr Pepper Inc., Red Bull GmbH, Monster Energy Company, Asahi Group Holdings Ltd., Danone S.A., Kirin Brewery Company Limited.
Product innovation is a crucial trend that is gaining traction in the soft drink business. Major corporations in the soft drink industry are focusing on finding innovative solutions to boost their market position. For example, in January 2023, PepsiCo Inc., a US-based food, snack, and beverage giant, introduced STARRY, a lemon-lime flavoured soda. Starry is caffeine-free and comes in a variety of sizes to provide a refreshing blast of lemon-lime flavour for any occasion. It’s easy to drink, wonderfully sweet, and delivers an amazing taste and flavour experience. Furthermore, it has richer, higher-level citrus flavours that are more aromatic and genuine to the fruit, resulting in a more balanced, cleaner, crisp finish than sierra mist.
The Soft Drinks Global Market Report 2023 provides a soft drinks market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The soft drinks market forecast analyzes soft drinks market size, soft drinks market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
A soft drink is a type of nonalcoholic beverage that often contains carbonated water, a sweetener, and flavouring. These drinks are frequently eaten and contribute to a healthy diet.
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