Carbonated Beverage Market (By Type: Standard, Diet, Fruit-Flavoured Carbonates; By Distribution Channel: Supermarkets, Specialty Stores, Convenience Stores, Online Store; By Drinks: Soft Drink, Sparkling Drinks, Functional Drinks) - Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2023-2032
The global carbonated beverage market size was estimated at USD 442.07 billion in 2022 and it is predicted to reach around USD 654.37 billion by 2032, expanding at a CAGR of 4% during the forecast period from 2023 to 2032.
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Report Coverage | Details |
Market Size in 2023 | USD 459.75 Billion |
Market Size by 2032 | USD 654.37 Billion |
Growth Rate from 2023 to 2032 | CAGR of 4% |
Largest Market | North America |
Base Year | 2022 |
Forecast Period | 2023 to 2032 |
Segments Covered | By Type, By Distribution Channel, and By Drinks |
Regions Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Driver:
Premiumization trend
Restraint:
Plastic packaging waste
Opportunity:
Flavor innovation
Challenge:
Intense competition
Impact of Covid-19:
The COVID-19 epidemic has had a conflicting effect on the market for carbonated beverages. Sales of carbonated beverages fell as a result of lockdowns that resulted in the closure of pubs, restaurants, and amusement centers. Production and distribution were also impacted by supply chain interruptions and logistical difficulties. As of the outbreak, people spent more time indoors at home, which boosted at-home consumption. This led to a sharp rise in demand for carbonated beverages through retail channels including supermarkets and online marketplaces. Demand for diet sodas and sparkling water increased as a result of the pandemic's increased emphasis on health and wellbeing, which led to an increasing demand for these beverages. While COVID-19's first effects on the carbonated beverage sector were difficult, the change in consumption patterns and the response to shifting customer tastes created chances for market expansion and innovation.
Lockdowns and social isolation measures led to a change in spending habits, with less consumption outside the home and more consumption within. Transportation limitations and supply chain interruptions had an impact on sourcing and distribution, which caused delays. Uncertainty in the economy, panic purchasing, and modifications in consumer spending patterns all contributed to variations in demand. Trends in health and wellness picked up speed, and there was more demand for healthier beverage alternatives. Businesses modified their marketing and promotion plans for a digital audience. Single-serve choices have increased as a result of packaging issues. Sales were hampered by closures in the restaurant and hotel industries. Despite obstacles, several businesses grabbed the chance for innovation. Market dynamics were also impacted by governmental rules and taxes. Effective answers to changing consumer preferences in a post-pandemic world are essential for recovery and future growth.
In 2022, the standard carbonate segment dominated the carbonated beverage market. Standard carbonate represents the traditional and timeless offerings in the market, including popular choices like cola, lemon-lime, and orange sodas. These beverages are typically sweetened with sugar or high-fructose corn syrup, providing a familiar and indulgent taste. Despite increasing health concerns related to sugar consumption, standard carbonates continue to enjoy popularity among consumers who seek classic and refreshing soda experiences.
Dietary carbonates have gained prominence due to the growing emphasis on health and wellness. These beverages are formulated with artificial sweeteners or natural sugar substitutes, delivering the same fizzy and carbonated experience with significantly reduced calorie content. Diet carbonates cater to health-conscious consumers who desire guilt-free options without compromising on taste.
The fruit-flavoured carbonates segment offers a diverse array of non-cola options, such as lemon, lime, grape, cherry, and berry-flavoured beverages. These carbonates appeal to consumers seeking unique and refreshing fruit-infused flavours. Many fruit-flavoured carbonates use natural fruit extracts or flavours, making them an attractive choice for those seeking more natural and less artificial beverage options.
In 2022, the supermarket segment dominated the carbonated beverage market. Supermarkets are essential players in the distribution network, offering a diverse selection of carbonated beverage brands and flavours all in one place. Supermarkets serve a wide variety of customers with differing interests and inclinations. Ample shelf space allows manufacturers to effectively showcase their products, while promotional displays within supermarkets increase visibility and drive sales.
Convenience stores serve as easily accessible points of purchase for carbonated beverages, targeting consumers seeking quick refreshments on the go. Operating with extended hours and strategic locations, these stores focus on the best-selling carbonated beverage brands and popular flavours due to limited shelf space. Their proximity to high-traffic areas ensures a continuous stream of customers seeking immediate satisfaction.
The digital revolution has significantly impacted the distribution landscape through online stores. Increasingly, consumers are turning to e-commerce platforms to purchase carbonated beverages. Online stores offer convenience, variety, and the opportunity to explore niche and hard-to-find flavours. Manufacturers benefit from direct-to-consumer interactions, which enable them to engage with their audience and tailor offerings to specific preferences. Targeted marketing and personalised promotions in the online space enhance the overall customer experience.
In 2022, the market for carbonated beverages was controlled by the soft drink category. traditional and widely available in the market, soft drinks include cola, lemon-lime, orange, and different flavored sodas. Soft drinks, which are often sweetened with sugar or high-fructose corn syrup, offer a comfortable and indulgent beverage experience that appeals to a wide customer base.
Sparkling beverages, a more varied category, provide tastes other than those found in typical sodas. It consists of sparkling water, club soda, and mildly flavored sparkling drinks. Sparkling beverages draw people who value their health and prefer a fizzy feel without the additional sugars or artificial flavors found in soft drinks.
The section of carbonated beverages with added health benefits or useful components is called functional drinks. This group of beverages includes energy drinks, sports drinks, and liquids fortified with vitamins, electrolytes, or botanical extracts. Functional beverages are popular among athletes, fitness enthusiasts, and others seeking an active lifestyle as they appeal to consumers looking for health benefits or an energy boost.
The market for carbonated beverages in 2022 was led by North America. The demand for both conventional soft drinks and cutting-edge effervescent and functional beverages has been particularly high in the United States, which has been a large market for carbonated beverages. The region's dominance in the market is a result of its established and mature customer base as well as a strong distribution network.
Europe has a long history of soft drink consumption and many well-known brands, there is a clear trend towards healthier choices such naturally flavored and low-sugar beverages. A combination of urbanization and rising affluence, markets in the Asia-Pacific region, including China, India, and Japan, are expanding quickly. As a result of its warm temperature and diverse cultures, Latin America, which includes Mexico, Brazil, and Argentina, is popular, but there are also new trends in health-consciousness. Although regional differences in consumer patterns exist, the Middle East and Africa is seeing increased demand, driven by youthful, urban populations with rising disposable incomes.
Segments Covered in the Report:
By Type
By Distribution Channel
By Drinks
By Geography
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Xxx Market
5.1. COVID-19 Landscape: Xxx Industry Impact
5.2. COVID 19 - Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Xxx Market, By Type
8.1. Xxx Market Revenue and Volume, by Type, 2023-2032
8.1.1 Standard
8.1.1.1. Market Revenue and Volume Forecast (2020-2032)
8.1.2. Diet
8.1.2.1. Market Revenue and Volume Forecast (2020-2032)
8.1.3. Fruit-Flavoured Carbonates
8.1.3.1. Market Revenue and Volume Forecast (2020-2032)
Chapter 9. Global Xxx Market, By Distribution Channel
9.1. Xxx Market Revenue and Volume, by Distribution Channel, 2023-2032
9.1.1. Supermarkets
9.1.1.1. Market Revenue and Volume Forecast (2020-2032)
9.1.2. Specialty Stores
9.1.2.1. Market Revenue and Volume Forecast (2020-2032)
9.1.3. Convenience Stores
9.1.3.1. Market Revenue and Volume Forecast (2020-2032)
9.1.4. Online Store
9.1.4.1. Market Revenue and Volume Forecast (2020-2032)
Chapter 10. Global Xxx Market, By Drinks
10.1. Xxx Market Revenue and Volume, by Drinks, 2023-2032
10.1.1. Soft Drink
10.1.1.1. Market Revenue and Volume Forecast (2020-2032)
10.1.2. Sparkling Drinks
10.1.2.1. Market Revenue and Volume Forecast (2020-2032)
10.1.3. Functional Drinks
10.1.3.1. Market Revenue and Volume Forecast (2020-2032)
Chapter 11. Global Xxx Market, Regional Estimates and Trend Forecast
11.1. North America
11.1.1. Market Revenue and Volume Forecast, by Type (2020-2032)
11.1.2. Market Revenue and Volume Forecast, by Distribution Channel (2020-2032)
11.1.3. Market Revenue and Volume Forecast, by Drinks (2020-2032)
11.1.4. U.S.
11.1.4.1. Market Revenue and Volume Forecast, by Type (2020-2032)
11.1.4.2. Market Revenue and Volume Forecast, by Distribution Channel (2020-2032)
11.1.4.3. Market Revenue and Volume Forecast, by Drinks (2020-2032)
11.1.5. Rest of North America
11.1.5.1. Market Revenue and Volume Forecast, by Type (2020-2032)
11.1.5.2. Market Revenue and Volume Forecast, by Distribution Channel (2020-2032)
11.1.5.3. Market Revenue and Volume Forecast, by Drinks (2020-2032)
11.2. Europe
11.2.1. Market Revenue and Volume Forecast, by Type (2020-2032)
11.2.2. Market Revenue and Volume Forecast, by Distribution Channel (2020-2032)
11.2.3. Market Revenue and Volume Forecast, by Drinks (2020-2032)
11.2.4. UK
11.2.4.1. Market Revenue and Volume Forecast, by Type (2020-2032)
11.2.4.2. Market Revenue and Volume Forecast, by Distribution Channel (2020-2032)
11.2.4.3. Market Revenue and Volume Forecast, by Drinks (2020-2032)
11.2.5. Germany
11.2.5.1. Market Revenue and Volume Forecast, by Type (2020-2032)
11.2.5.2. Market Revenue and Volume Forecast, by Distribution Channel (2020-2032)
11.2.5.3. Market Revenue and Volume Forecast, by Drinks (2020-2032)
11.2.6. France
11.2.6.1. Market Revenue and Volume Forecast, by Type (2020-2032)
11.2.6.2. Market Revenue and Volume Forecast, by Distribution Channel (2020-2032)
11.2.6.3. Market Revenue and Volume Forecast, by Drinks (2020-2032)
11.2.7. Rest of Europe
11.2.7.1. Market Revenue and Volume Forecast, by Type (2020-2032)
11.2.7.2. Market Revenue and Volume Forecast, by Distribution Channel (2020-2032)
11.2.7.3. Market Revenue and Volume Forecast, by Drinks (2020-2032)
11.3. APAC
11.3.1. Market Revenue and Volume Forecast, by Type (2020-2032)
11.3.2. Market Revenue and Volume Forecast, by Distribution Channel (2020-2032)
11.3.3. Market Revenue and Volume Forecast, by Drinks (2020-2032)
11.3.4. India
11.3.4.1. Market Revenue and Volume Forecast, by Type (2020-2032)
11.3.4.2. Market Revenue and Volume Forecast, by Distribution Channel (2020-2032)
11.3.4.3. Market Revenue and Volume Forecast, by Drinks (2020-2032)
11.3.5. China
11.3.5.1. Market Revenue and Volume Forecast, by Type (2020-2032)
11.3.5.2. Market Revenue and Volume Forecast, by Distribution Channel (2020-2032)
11.3.5.3. Market Revenue and Volume Forecast, by Drinks (2020-2032)
11.3.6. Japan
11.3.6.1. Market Revenue and Volume Forecast, by Type (2020-2032)
11.3.6.2. Market Revenue and Volume Forecast, by Distribution Channel (2020-2032)
11.3.6.3. Market Revenue and Volume Forecast, by Drinks (2020-2032)
11.3.7. Rest of APAC
11.3.7.1. Market Revenue and Volume Forecast, by Type (2020-2032)
11.3.7.2. Market Revenue and Volume Forecast, by Distribution Channel (2020-2032)
11.3.7.3. Market Revenue and Volume Forecast, by Drinks (2020-2032)
11.4. MEA
11.4.1. Market Revenue and Volume Forecast, by Type (2020-2032)
11.4.2. Market Revenue and Volume Forecast, by Distribution Channel (2020-2032)
11.4.3. Market Revenue and Volume Forecast, by Drinks (2020-2032)
11.4.4. GCC
11.4.4.1. Market Revenue and Volume Forecast, by Type (2020-2032)
11.4.4.2. Market Revenue and Volume Forecast, by Distribution Channel (2020-2032)
11.4.4.3. Market Revenue and Volume Forecast, by Drinks (2020-2032)
11.4.5. North Africa
11.4.5.1. Market Revenue and Volume Forecast, by Type (2020-2032)
11.4.5.2. Market Revenue and Volume Forecast, by Distribution Channel (2020-2032)
11.4.5.3. Market Revenue and Volume Forecast, by Drinks (2020-2032)
11.4.6. South Africa
11.4.6.1. Market Revenue and Volume Forecast, by Type (2020-2032)
11.4.6.2. Market Revenue and Volume Forecast, by Distribution Channel (2020-2032)
11.4.6.3. Market Revenue and Volume Forecast, by Drinks (2020-2032)
11.4.7. Rest of MEA
11.4.7.1. Market Revenue and Volume Forecast, by Type (2020-2032)
11.4.7.2. Market Revenue and Volume Forecast, by Distribution Channel (2020-2032)
11.4.7.3. Market Revenue and Volume Forecast, by Drinks (2020-2032)
11.5. Latin America
11.5.1. Market Revenue and Volume Forecast, by Type (2020-2032)
11.5.2. Market Revenue and Volume Forecast, by Distribution Channel (2020-2032)
11.5.3. Market Revenue and Volume Forecast, by Drinks (2020-2032)
11.5.4. Brazil
11.5.4.1. Market Revenue and Volume Forecast, by Type (2020-2032)
11.5.4.2. Market Revenue and Volume Forecast, by Distribution Channel (2020-2032)
11.5.4.3. Market Revenue and Volume Forecast, by Drinks (2020-2032)
11.5.5. Rest of LATAM
11.5.5.1. Market Revenue and Volume Forecast, by Type (2020-2032)
11.5.5.2. Market Revenue and Volume Forecast, by Distribution Channel (2020-2032)
11.5.5.3. Market Revenue and Volume Forecast, by Drinks (2020-2032)
Chapter 12. Company Profiles
12.1. The Coca-Cola Company
12.1.1. Company Overview
12.1.2. Product Offerings
12.1.3. Financial Performance
12.1.4. Recent Initiatives
12.2. PepsiCo Inc.
12.2.1. Company Overview
12.2.2. Product Offerings
12.2.3. Financial Performance
12.2.4. Recent Initiatives
12.3. Keurig Dr Pepper Inc.
12.3.1. Company Overview
12.3.2. Product Offerings
12.3.3. Financial Performance
12.3.4. Recent Initiatives
12.4. Suntory Holdings Limited
12.4.1. Company Overview
12.4.2. Product Offerings
12.4.3. Financial Performance
12.4.4. Recent Initiatives
12.5. Nestlé S.A.
12.5.1. Company Overview
12.5.2. Product Offerings
12.5.3. Financial Performance
12.5.4. Recent Initiatives
12.6. The Coca-Cola Bottling Co. Consolidated
12.6.1. Company Overview
12.6.2. Product Offerings
12.6.3. Financial Performance
12.6.4. Recent Initiatives
12.7. The Dr Pepper Snapple Group
12.7.1. Company Overview
12.7.2. Product Offerings
12.7.3. Financial Performance
12.7.4. Recent Initiatives
12.8. Cott Corporation
12.8.1. Company Overview
12.8.2. Product Offerings
12.8.3. Financial Performance
12.8.4. Recent Initiatives
12.9. National Beverage Corp.
12.9.1. Company Overview
12.9.2. Product Offerings
12.9.3. Financial Performance
12.9.4. Recent Initiatives
12.10. Britvic PLC
12.10.1. Company Overview
12.10.2. Product Offerings
12.10.3. Financial Performance
12.10.4. Recent Initiatives
Chapter 13. Research Methodology
13.1. Primary Research
13.2. Secondary Research
13.3. Assumptions
Chapter 14. Appendix
14.1. About Us
14.2. Glossary of Terms
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