Global Carbonated Beverage Market Report and Forecast 2024-2032

Global Carbonated Beverage Market Size

The global carbonated beverage market reached a value of approximately USD 500.26 billion in 2023. The market is projected to grow at a CAGR of 5.30% between 2024 and 2032, reaching a value of around USD 795.09 billion by 2032.

Carbonated Beverage Market Outlook

• As per ABS, 14.8 million tonnes of food and non-alcoholic beverages have been consumed in Australia in 2022-2023.

• According to the Eurostat, there have been 2,91,000 food and beverage processing enterprises in the EU in 2020.

• As per Eurostat, in 2022, the value of soft drinks produced in Europe has been estimated to be €30.0 billion.

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Carbonated Beverage Market Growth Rate

Carbonated beverages are generally sweet and non-alcoholic. Some examples of such beverages are soft drinks, and sparkling water or seltzer water. In 2020, individuals in the EU spent €1,461 billion on food and drinks significantly elevating the consumption in the carbonated beverages market.

According to the data from Eurostat, the food and drink industry in France, Italy, and Spain have generated revenue of around €212.2 billion, €143.8 billion, and €127.5 billion respectively in 2020.

Key Trends and Developments

The growing need for ready-to-drink beverages, rising health consciousness, increasing investments in product marketing, and growing innovation in product flavours are the major trends impacting global carbonated beverage market growth.

February 20, 2024

Beverage startup Salud is launching its new ready-to-drink (RTD) line, Salud Viking. This RTD offering combines pure honey and all-natural ingredients, presenting a unique carbonated wine-in-a-pint format that introduces consumers to the ancient tradition of mead.

October 15, 2023

The Coca-Cola Company and Pernod Ricard revealed a global partnership to introduce Absolut Vodka & Sprite as a ready-to-drink pre-mixed cocktail in 2024.

October 04, 2023

Coca-Cola India has launched Coca-Cola® in rPET, available in pack sizes of 250 ml and 750 ml. These rPET bottles are being produced by Coca-Cola bottling partners, Moon Beverages Ltd., and SLMG Beverages Ltd.

May 30, 2023

The company has introduced additional variants and flavours under its Bisleri brand, including fizzy cola, orange, and jeera, marketed under the Rev, Pop, and Spyci Jeera sub-brands, respectively.

Growing need for Ready-to-drink beverages

The increasing need for convenience and accessibility among individuals grows demand for ready-to-drink (RTD) beverages as they expand their convenience catering to their needs and preferences.

Rising Health Consciousness

Market growth is fueled by new product launches like diet, sugar-free, and zero-calorie drinks, driven by increased demand among young and health-conscious consumers.

Increasing Investments in product marketing

Investments in marketing boost the carbonated beverage market by enhancing brand visibility, consumer demand, and differentiation, particularly with health and sustainability-focused campaigns.

Growing innovation in product flavours

Increasing innovation in product flavours can boost the carbonated beverage market by attracting new consumers and refreshing existing ones while catering to the preferences of consumers.

Carbonated Beverage Market Trends

Evolving consumer preferences broaden the appeal of carbonated beverages, attracting new consumers and increasing market demand, incorporating functional ingredients appeals to health-conscious consumers seeking beverages with added benefits beyond refreshment. Embracing natural and organic ingredients caters to consumers' preferences for healthier and more transparent product formulations.

The shift towards sustainable packaging reflects growing environmental concerns and resonates with eco-conscious consumers, contributing to brand loyalty. Additionally, the availability of carbonated beverages in convenient packaging formats such as single-serve bottles, cans, or pouches enhances accessibility and meets the needs of on-the-go consumers, further stimulating market demand.

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Carbonated Beverage Industry Segmentation

“Carbonated Beverage Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:

Market Breakup by Type

• Standard

• Diet

• Fruit Flavoured Carbonates

• Others

Market Breakup by Distribution Channel

• Hypermarkets/Supermarkets

• Speciality Stores

• Convenience Stores

• Online Stores

• Others

Market Breakup by Region

• North America

• Europe

• Asia Pacific

• Latin America

• Middle East and Africa 

Carbonated Beverage Market Share

The increasing penetration of the e-commerce industry and the growing consumer preference for online shopping elevate the market demand.

Online channels offer expanded reach, direct consumer engagement, convenience, personalized marketing, and competitive e-commerce platforms. They drive market growth by reaching wider audiences, fostering brand loyalty, facilitating convenient purchases, tailoring marketing efforts, and encouraging innovation and competition.

Consumers prefer online channels for buying carbonated beverages due to their convenience, accessibility to diverse options, time-saving nature, personalised recommendations, access to reviews, promotional offers, and contactless shopping benefits, especially amid health concerns.

Based on type, diet beverages are gaining traction among individuals as it provides various health benefits significantly driving the carbonated beverages market growth.

Diet beverages are favoured for their reduced calorie count, making them attractive to health-conscious individuals seeking flavoured drinks without extra sugar or calories. They are especially popular with those focused on weight management.

Leading Manufacturers in the Carbonated Beverage Market

The companies manufacture, sell, and market other non-alcoholic beverage concentrates, syrups, and alcoholic beverages, and operate across all facets of the food and beverage industry.

The Coca-Cola Company: Tracing its roots to 1892, The Coca-Cola Company, headquartered in the United States, produces Coca-Cola, and manufactures, sells, and markets other non-alcoholic beverage concentrates, syrups, and alcoholic beverages.

PepsiCo Inc.: Founded in 1965, with its headquarters in the United States, PepsiCo Inc. is a food, snack, and beverage corporation that operates across all facets of the food and beverage industry.

Parle Agro Private Limited: Establishes in 1984, and situated in India, Parle Agro Private Limited operates under three main business segments: Beverages- fruit drinks, nectars, juice, and sparkling drinks; and Water, packaged drinking water.

National Beverage Corp.: Founded in 1985, with its headquarters in the United States, National Beverage Corp. develops, manufactures, and distributes flavoured soft drinks, with La Croix, Shasta, and Faygo being its most notable brands.

Other global carbonated beverage market key players are Tru Blu Beverages Pty Ltd, among others.

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Carbonated Beverage Market Analysis by Region

The Asia Pacific region is projected to experience significant growth due to rising consumer disposable incomes and its large population. This growth will significantly boost the global carbonated beverage market size, as more consumers can afford and consume these products.

Major industry players are investing more to expand their consumer base in India and China, which is expected to significantly drive market growth as by reaching more consumers in these populous countries.

Key Highlights of the Report

Carbonated Beverage Market Report Snapshots

Carbonated Beverage Market Size

Carbonated Beverage Market Growth

Carbonated Beverage Market Trends

Carbonated Beverage Market Share

Carbonated Beverage Manufacturers

Carbonated Beverage Market Regional Analysis