Global Soft Drinks Market Report and Forecast 2024-2032

Global Soft Drinks Market Outlook

The global soft drinks market size reached approximately USD 461.26 billion in 2023. The market is further projected to grow at a CAGR of 5.1% between 2024 and 2032, reaching a value of USD 721.73 billion by 2032.

Key Trends in the Market

Soft drink is a class of non-alcoholic beverages that may be carbonated or non-carbonated and contain artificial or natural sweetening agents, flavouring agents, and edible acids, among others. These water-based flavoured beverages are produced by mixing dry ingredients and syrups with carbonated water or with the help of lacto-fermentation.

• Rising demand for low/no calorie beverages due to increasing weight-consciousness is a key trend aiding the soft drinks market growth. Low calorie beverages can reduce the overall calorie intake, contributing to weight maintenance and weight loss.

• Adoption of aggressive marketing and promotional strategies by major market players for brand promotion along with the increased availability of soft drinks across various distribution channels including online retail stores, convenience stores, and supermarkets and hypermarkets is aiding the market expansion.

• The demand for environmental friendly and sustainable solutions for packaging soft drinks is rising due to the growing environmental consciousness. Various consumers are opting for brands that deploy recyclable packaging materials to reduce wastes, bolstering the market growth.

Global Soft Drinks Market Analysis

On the basis of product, the market is divided into carbonated, non-carbonated, and energy and sports drinks. Based on type, the market is classified into low/no calorie, regular, and mid calorie. On the basis of packaging, the market is segregated into plastic bottle, metal cans, glass bottle, and board cartons and boxes, among others.

Based on distribution channel, the soft drinks market segmentation includes supermarket and hypermarket, convenience store, HoReCa, and online, among others. On the basis of region, the market is classified into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global soft drinks market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.

• PepsiCo, Inc.

• The Coca-Cola Company

• Nestlé S.A.

• Unilever Plc

• Asahi Group Holdings Ltd.

• Dr. Pepper Snapple Group

• Kofola Ceskoslovensko, A.S.

• Monster Beverage Corporation

• Arizona Beverages USA

• Britvic Plc

• Red Bull GmbH

• Other

Global Soft Drinks Market Share by Product

The non-carbonated segment is anticipated to witness significant growth over the forecast period, due to the rising consumer demand for healthier beverage options at reasonable costs. These beverages undergo pasteurisation to provide them protection against spoilage as they lack carbon dioxide and include sweetened and unsweetened tea, fruit punch, flavoured water, and lemonade, among others. Additionally, the segment growth is also being aided by the rising investments by key market players towards development of novel flavours.

Market Share by Region

North America is expected to account for a significant share of the market in the coming years, owing to the rising demand for low calorie and natural soft drinks due to increasing health concerns. The consumption of energy and sports drinks is also rising as energy drinks elevate attention, alertness, and energy as well as heart rate, blood pressure, and breathing. Meanwhile, sports drinks aid in replenishing electrolytes, glucose, and fluids lost during strenuous exercises, bolstering the soft drinks market demand.

Competitive Landscape

PepsiCo, Inc., a food and beverage services company is known for their diverse product portfolio that comprises of various food and beverage products, including soft drinks. The company is home to many global brands including Cheetos, Mountain Dew, SodaStream, and Pepsi Cola, among others.

The Coca-Cola Company, a beverage manufacturing company is headquartered in Georgia, United States and was founded in 1892. The company’s diverse portfolio includes brands such as Dasani Waters, Minute Maid, and Fanta.

Nestlé S.A., founded in 1866, is a food and beverage manufacturing company that is based in Vaud, Switzerland. The company specialises in soft drinks, ice creams, frozen food, infant nutrition, and confectionery, among others.

Other market players include Unilever Plc, Asahi Group Holdings Ltd., Dr. Pepper Snapple Group, Kofola Ceskoslovensko, A.S., Monster Beverage Corporation, Arizona Beverages USA, Britvic Plc, and Red Bull GmbH, among others.

Key Highlights of the Report