Soft Drinks Market

Market Overview:

The global soft drinks market size reached US$ 576.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 753.7 Billion by 2028, exhibiting a growth rate (CAGR) of 4.8% during 2023-2028. The significant growth in the fast-food industry, increasing health consciousness among the masses, and the recent development of eco-friendly biodegradable packaging represent some of the key factors driving the market.

Soft drinks refer to non-alcoholic beverages that are widely consumed for their sweet taste and refreshing qualities. It includes carbonated and non-carbonated drinks that are manufactured using water, artificial flavors, high-fructose syrup, natural extracts, carbon dioxide (CO2) gas, caffeine, and preservatives. They are rich in calories, carbohydrates, and sodium and contain small quantities of calcium, vitamins, and minerals. Soft drinks are widely consumed at sporting events, movie theaters, restaurants, hotels, bars, parties, wedding functions, and other social events. They are convenient, cost-effective, and readily available products that aid in maintaining hydration, boosting energy, uplifting mood, and providing a temporary sense of pleasure. Soft drinks also offer several health benefits, such as improving cognitive function, reducing the risk of kidney stones, and alleviating pain associated with menstrual cramps and headaches.

Soft Drinks Market Trends:

The significant growth in the fast-food industry across the globe is one of the primary factors creating a positive outlook for the market. Soft drinks are widely consumed with various snacks and fast foods, such as chips, crackers, fries, popcorn, pizza, burgers, sandwiches, nachos, ice creams, tacos, desserts, hot dogs, donuts, pastries, and pretzels. In addition to this, the rising adoption of convenience food, such as on-the-go (OTG) products and ready-to-drink (RTD) beverages, due to the changing consumer lifestyles and hectic schedules, is acting as another growth-inducing factor. Furthermore, the increasing health consciousness among the masses is facilitating the demand for clean-label, low-calorie, gluten-free, and low-sugar products that are manufactured using plant-based ingredients and do not contain artificial flavors, colors, and sweeteners. Additionally, the recent development of eco-friendly biodegradable packaging, which reduces carbon footprints and is manufactured using natural materials, such as cornstarch, seaweed, and bamboo, is positively influencing the market growth. Besides this, the incorporation of new and exotic flavors, such as lemon-lime, root beer, ginger, lychee, passionfruit, acai, hibiscus, pineapple, cherries, grapes, and mangoes are providing a considerable boost to the market growth. Moreover, aggressive promotional campaigns by manufacturers through social media, advertisements, and celebrity endorsements are propelling the market growth. Other factors, including the rising expenditure capacities of consumers, easy product availability across e-commerce platforms, extensive research and development (R&D) activities, and the rapid launching of new products, are anticipated to drive the market growth.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global soft drinks market report, along with forecasts at the global, regional, and country levels for 2023-2028. Our report has categorized the market based on product and distribution channel.

Product Insights:

• Carbonated
• Non-Carbonated
   

The report has provided a detailed breakup and analysis of the soft drinks market based on the product. This includes carbonated and non-carbonated. According to the report, carbonated represented the largest segment.

Distribution Channel Insights:

• Hypermarkets and Supermarkets
• Convenience Store
• Online
• Others
   

A detailed breakup and analysis of the soft drinks market based on the distribution channel has also been provided in the report. This includes hypermarkets and supermarkets, convenience store, online, and others. According to the report, hypermarkets and supermarkets accounted for the largest market share.

Regional Insights:

• North America
  • United States
  • Canada
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Others
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America was the largest market for soft drinks. Some of the factors driving the North America soft drinks market included rising expenditure capacities of consumers, increasing health consciousness, and various product innovations.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the global soft drinks market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include Arizona Beverage Company, Asahi Group Holdings Ltd., Keurig Dr Pepper Inc., National Beverage Corp., Nestlé S.A., Pepsico Inc., Purity Soft Drinks Ltd., Red Bull GmbH, Refresco Group BV, The Coca-Cola Company, etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Soft Drinks Market Report Scope:

Key Questions Answered in This Report:

• How has the global soft drinks market performed so far, and how will it perform in the coming years?
• What are the drivers, restraints, and opportunities in the global soft drinks market?
• What is the impact of each driver, restraint, and opportunity on the global soft drinks market?
• What are the key regional markets?
• Which countries represent the most attractive soft drinks market?
• What is the breakup of the market based on the product?
• Which is the most attractive product in the soft drinks market?
• What is the breakup of the market based on the distribution channel?
• Which is the most attractive distribution channel in the soft drinks market?
• What is the competitive structure of the global soft drinks market?
• Who are the key players/companies in the global soft drinks market?

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the soft drinks market from2017-2028.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global soft drinks market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the soft drinks industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.