The global carbonated soft drink market size is expected to reach USD 320.1 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 4.7% from 2021 to 2028. The demand for carbonated soft drinks is influenced by an increased disposable income, customer preferences, and a growing population. The industry has numerous prominent players who are similar in size and product offerings. Many of these leaders create new product lines and actively participate in advertising wars. As numerous competitors are equally balanced, competitor rivalry is intense.
Omni-channel marketing and retailing have proved to be highly beneficial for manufacturers as they help companies leverage new tools for product launches and drive sales. Direct-to-customer is one of the most popular strategies to enhance profit margins, wherein the manufacturers would have complete control over the quality of products as well as services.
Carbonated soft drinks are being innovated in terms of taste, appearance, texture, and ingredients depending upon the target age group. Soft drinks, specially designed for children and the elderly, are usually tailored to the appropriate needs of these consumer groups and an increasing number of players catering to these two segments can be seen mushrooming in the market.
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Carbonated Soft Drink Market Report Highlights
• The cola flavor segment held the largest share of over 55.0% in 2020 owing to the first mover’s advantage. The citrus flavor is expected to register the fastest CAGR of 4.9% from 2021 to 2028. The industry participants are expected to increase spending on developing carbonated soft drinks fortified with citrus flavors in order to expand their reach
• By distribution channel, the hypermarkets, supermarkets & mass merchandisers segment accounted for the largest share of more than 20.0% in 2020. A large number of consumers prefer buying these drinks from supermarkets and general merchandisers due to the shopping experience offered by these stores
• The online stores and D2C segment is expected to remain one of the key buying mediums among buyers as a result of increasing consumers’ willingness to pay a premium for mobile and internet shopping
• Central and South America held the largest share of over 25.0% in 2020. The young population, along with the availability of products from across the globe, is leading to a robust consumption of carbonated soft drinks in the countries, such as Brazil, Argentina, and Venezuela
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Carbonated Soft Drink Market Segmentation
Grand View Research has segmented the global carbonated soft drink market on the basis of flavor, distribution channel, and region:
Carbonated Soft Drinks Flavor Outlook (Revenue, USD Billion, 2016 – 2028)
Carbonated Soft Drinks Distribution Channel Outlook (Revenue, USD Billion, 2016 – 2028)
• Hypermarkets, Supermarkets & Mass Merchandisers
• Convenience Stores & Gas Stations
• Food Service Outlets
• Online Stores & D2C
Carbonated Soft Drinks Regional Outlook (Revenue, USD Billion, 2016 – 2028)
• North America
• Asia Pacific
• Central & South America
• Middle East & Africa
List of Key Players of Carbonated Soft Drink Market
• ANADOLU GRUBU A.Ş.
• JONES SODA CO.
• Keurig Dr Pepper Inc.
• Monster Energy Company
• National Beverage Corp.
• Refresco Group
• SODASTREAM INTERNATIONAL LTD.
• SUNTORY BEVERAGE & FOOD LIMITED
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About Grand View Research
Grand View Research is a market research and consulting company registered in the State of California having its headquarters in San Francisco. The company offers syndicated research reports, customized research reports, and consulting services. With Grand View Research, you get an opportunity to understand market trends, insights, and business statistics from a strategic standpoint. With a deep-seated understanding of many business environments, Grand View Research offers business and market intelligence studies and accomplishes more than 300 multi-country market studies.
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