North America Soft Drinks Market Report and Forecast 2024-2032

North America Soft Drinks Market Size

The North America soft drinks market is projected to grow at a CAGR of 3.2% between 2024 and 2032. Aided by the increasing shift towards premium and natural ingredients in soft drinks, the market is expected to witness significant growth in the forecast period.

North America Soft Drinks Market Outlook

• In 2022, sales of soft drinks in Canada witnessed a y-o-y growth of 13%.

• Low/no-calorie soft drinks are expected to become popular among consumers over the forecast period.

• Innovative product launches that differentiate soft drinks from competitors’ brands are expected to drive the market growth in the forecast period.

North America Soft Drinks Market Growth

Artificial intelligence is expected to enable marketing teams to gain valuable insights into consumer behaviour and design personalised drawings and tag lines for individual consumers. Social media is expected to become an important source of data collection and advertising, enhancing the sale of soft drinks significantly. Rapid urbanisation and rising disposable incomes are expected to play a key role in driving the market growth in the forecast period.

The Federal Drug Administration is expected to modify its list of substances, which are generally considered safe and effective. The exclusion of brominated vegetable oil and red dye #3 from the list is expected to prompt soft drink manufacturers to incorporate natural and relatively safer beverages into soft drinks, thereby boosting their demand among health-conscious consumers.

Major grocery retailers are expanding their shelf space for functional sodas, which contain ingredients like adaptogens, nootropics, prebiotics and probiotics, and CBD. These ingredients are found to alleviate stress, improve digestion, and impact cognitive functions and memory power favourably, which enhances their consumer appeal. Expansion of existing production facilities and introduction of new products in sustainable packaging formats are expected to further facilitate the market growth in the forecast period, as the demand for flavourful and attractive soda packaging rises.

North America Soft Drinks Industry Segmentation

North America Soft Drinks Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:

Market Breakup by Product Type

• Carbonated 

• Non-Carbonated

• Energy and Sports Drinks

Market Breakup by Type

• Low/No Calorie

• Regular

Market Breakup by Packaging

• Plastic Bottles

• Metal Cans

• Glass Bottles

• Board Cartons and Boxes

• Others

Market Breakup by Distribution Channel

• Hypermarkets/Supermarkets

• Convenience Stores

• HoReCa

• Online Channels

• Others

Market Breakup by Country

• United States 

• Canada

North America Soft Drinks Market Share

Based on packaging, the market is divided into plastic bottles, metal cans, glass bottles, and board cartons and boxes, among others. Recyclable plastic and board cartons are expected to become the primary packaging solutions for soft drinks as major companies adopt sustainable packaging solutions for reducing their environmental footprint and total carbon emissions.

Leading Companies in the North America Soft Drinks Market

The report provides a detailed analysis of the following key players in the market, covering their competitive landscape and latest developments like mergers and acquisitions, investments, and capacity expansion.

• PepsiCo, Inc.

• The Coca-Cola Company

• Red Bull GmbH

• Monster Beverage Corporation

• Nestlé S.A.

• Keurig Dr Pepper Inc.

• AriZona Beverages USA

• Adams Beverages

• PRIME Hydration, LLC

• GOODSPORT NUTRITION, LLC

• Others

Major market players are balancing price increases with optimum beverage quantity to ensure soft drink sales remain robust over the forecast period.

Key Highlights of the Report