Soft Drinks Market Value, Size, Share, Trends, Report and Forecast 2024-2032
Soft Drinks Market Outlook
According to a new report by Expert Market Research titled, “Global Soft Drinks Market Price, Size, Analysis, Report and Forecast 2024-2032″, the soft drinks market reached a value of USD 438.88 billion in 2023. Aided by changing consumer preferences, the advent of healthier beverage alternatives, and robust marketing strategies, the market is projected to further grow at a CAGR of 5.10% between 2024 and 2032 to reach a value of USD 591.51 billion by 2032.
Soft drinks, commonly termed as non-alcoholic beverages, primarily include carbonated drinks, juices, iced tea, and energy drinks. These beverages have historically been an integral part of social and dining occasions across cultures. However, with evolving consumer awareness and lifestyle shifts, soft drinks are not just thirst quenchers but have become expressions of personal choices, health preferences, and even, at times, social status.
The global surge in health awareness is adding value to the soft drinks market size. Consumers, more informed than ever about the adverse effects of excessive sugar intake and artificial additives, are leaning towards beverages with reduced sugar, natural ingredients, or added health benefits. Consequently, manufacturers are innovating, resulting in an expanded portfolio that includes zero-sugar variants, fortified drinks, and beverages with organic ingredients.
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Marketing, too, plays a paramount role in soft drinks market expansion. With global players investing heavily in advertising campaigns, endorsements, and event sponsorships, the visibility and appeal of soft drinks have soared. Brands are no longer selling just beverages but are promoting lifestyles, aspirations, and experiences, thus deepening their connection with consumers.
Moreover, sustainability has taken centre-stage. With increasing consumer cognizance about environmental concerns, brands are under pressure to adopt sustainable packaging solutions. From bio-degradable plastics to returnable glass bottles, the emphasis is on reducing the ecological footprint of beverage consumption.
Diversification in the soft drinks category is another pivotal soft drinks market growth driver. Beyond the conventional carbonated drinks, there’s a substantial uptick in demand for functional beverages—those enriched with vitamins, minerals, and other nutrients. Sports and energy drinks, catering to the fitness-conscious segment, have carved a lucrative niche, given the rising trend of fitness and athleticism globally.
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In the backdrop of these trends, the non-carbonated drinks segment, especially fruit and vegetable juices, is seeing an accelerated growth. Their natural and health-centric image makes them a preferred choice for those seeking both taste and nutrition, fuelling the soft drinks market demand.
Soft Drinks Market Segmentation
The market can be divided based on product, type, packaging, distribution channel, and region.
Market Breakup by Product
- Energy and Sports Drinks
Market Breakup by Type
- Low/No Calorie
- Mid Calorie
Market Breakup by Packaging
- Plastic Bottle
- Metal Cans
- Glass Bottle
- Board Cartons and Boxes
Market Breakup by Distribution Channel
- Supermarket and Hypermarket
- Convenience Store
Market Breakup by Region
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global soft drinks companies. Some of the major key players explored in the report by Expert Market Research are as follows:
- 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
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