Carbonated Soft Drinks Market Forecast, Trends, Scope by 2031
The carbonated soft drinks market size is projected to reach US$ 445.13 billion by 2031 from US$ 296.62 billion in 2023. The market is expected to register a CAGR of 5.2% during 2023–2031. The growing demand for premium carbonated soft drinks reflects evolving consumer preference for high-quality, indulgent beverages. This is likely to remain a key trend in the market.
Carbonated Soft Drinks Market Analysis
According to the World Economic Forum, there are 1.8 billion millennials around the world, equal to 23% of the global population. These younger demographics have embraced carbonated soft drinks not just as a refreshment but also as a lifestyle choice and a means of socializing. The variety of flavors and options, from classic sodas to innovative flavored variants, offered by beverage companies, catering to the diverse tastes of millennials and Gen Z, is a major factor driving demand for carbonated soft drinks.
Carbonated Soft Drinks Market Overview
The carbonated soft drinks market is a highly competitive and mature industry that continues to be a popular choice among consumers globally. The market is dominated by major players such as Coca-Cola, PepsiCo, and Dr. Pepper Snapple Group; they have a strong presence in both developed and emerging markets. Despite concerns about health and wellness, carbonated soft drinks remain a staple in many households due to their refreshing taste and wide variety of flavors. In recent years, there has been a shift toward healthier alternatives such as sparkling water and natural sodas, leading to a decline in sales of traditional carbonated soft drinks. However, the market continues to innovate with new product launches, including low-sugar and zero-calorie options, to cater to changing consumer preferences. Additionally, the rise of premium and craft soda brands has created new opportunities for growth within the market.
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Carbonated Soft Drinks Market: Strategic Insights
Carbonated Soft Drinks Market
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![](https://www.theinsightpartners.com/assets/images/rd_int_img/cagr.png)
CAGR (2023 - 2031)
5.2%
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Market Size 2023
US$ 296.62 Billion
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Market Size 2031
US$ 445.13 Billion
Market Dynamics
GROWTH DRIVERS
- Rising Consumption of Carbonated Soft Drinks Among the Millennial and Gen Z Population
- Growing Strategic Initiatives by Key Players
FUTURE TRENDS
- Rising Demand for Premium Carbonated Soft Drinks
OPPORTUNITIES
- Increasing Preference for Sugar-Free and Zero-Calorie Carbonated Soft Drinks
Key Players
- Three Cents Co
- The Coca-Cola Co
- PepsiCo Inc
- Red Bull
- Fevertree Drinks Plc
- Monster Beverage Corp
- Britvic Plc
- Keurig Dr Pepper Inc
- Refresco Group
Regional Overview
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Market Segmentation
Flavor Type
- Cola
- Orange
- Lemonade
- Ginger
- Others
Category
- Sugar-free
- Conventional
Packaging Type
- Bottles and Cans
End-User
- On-Trade
- Off-Trade
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Carbonated Soft Drinks Market: Strategic Insights
-
CAGR (2023 - 2031)5.2% -
Market Size 2023
US$ 296.62 Billion -
Market Size 2031
US$ 445.13 Billion
![](https://www.theinsightpartners.com/assets/images/rd_int_img/tip-logo.jpg)
Market Dynamics
- Rising Consumption of Carbonated Soft Drinks Among the Millennial and Gen Z Population
- Growing Strategic Initiatives by Key Players
- Rising Demand for Premium Carbonated Soft Drinks
- Increasing Preference for Sugar-Free and Zero-Calorie Carbonated Soft Drinks
Key Players
- Three Cents Co
- The Coca-Cola Co
- PepsiCo Inc
- Red Bull
- Fevertree Drinks Plc
- Monster Beverage Corp
- Britvic Plc
- Keurig Dr Pepper Inc
- Refresco Group
Regional Overview
![](https://www.theinsightpartners.com/assets/images/rd_int_img/ig-regional.png)
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Market Segmentation
![](https://www.theinsightpartners.com/assets/images/rd_int_img/cust_bullet_danger.png)
- Cola
- Orange
- Lemonade
- Ginger
- Others
![](https://www.theinsightpartners.com/assets/images/rd_int_img/cust_bullet_warning.png)
- Sugar-free
- Conventional
![](https://www.theinsightpartners.com/assets/images/rd_int_img/cust_bullet_primary.png)
- Bottles and Cans
![](https://www.theinsightpartners.com/assets/images/rd_int_img/cust_bullet_warning.png)
- On-Trade
- Off-Trade
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Carbonated Soft Drinks Market Drivers and Opportunities
Growing Strategic Initiatives by Key Players to Favor Market
Strategic partnerships and collaborations are also driving innovation and expansion within the carbonated soft drinks market. Beverage companies are partnering with other brands, technology firms, and startups to leverage complementary expertise, access new end users, and co-create innovative products. For instance, in February 2022, Coca-Cola launched its new global innovation platform, Coca-Cola Creations, along with its first limited-edition product, Coca-Cola Starlight. In addition, in April 2024, Microsoft Corp and The Coca-Cola Company announced a five-year strategic partnership to align Coca-Cola’s core technology strategy systemwide, enable the adoption of leading-edge technology, and foster innovation and productivity globally.
Increasing Preference for Sugar-Free and Zero-Calorie Carbonated Soft Drinks
Health has become a top priority for consumers across the globe, leading to a boom in demand for functional products. With increasing awareness of the health risks associated with high sugar intake, consumers are actively seeking out alternatives that allow them to indulge in carbonated beverages without compromising their health goals. Sugar-free and zero-calorie carbonated soft drinks offer a guilt-free option for those looking to reduce their sugar intake or manage their calorie consumption. These beverages are sweetened with artificial sweeteners such as aspartame, sucralose, or stevia, providing the familiar sweetness of traditional sodas without the added sugars. Moreover, the rise of health-conscious consumers and those following specific dietary trends, such as keto or low-carb diets, has fueled the demand for sugar-free and zero-calorie options. These consumers actively seek beverages that align with their dietary preferences while satisfying their cravings for carbonation and flavors. In response to this growing demand, many companies in the carbonated soft drinks market are expanding their portfolios to include a wider range of sugar-free and zero-calorie options.
Carbonated Soft Drinks Market Report Segmentation Analysis
Key segments that contributed to the derivation of the carbonated soft drinks market analysis are flavor type, category, packaging type, and end user.
- Based on flavor type, the carbonated soft drinks market is divided into cola, orange, lemonade, ginger, and others. The Cola segment held the largest market share in 2023.
- In terms of category, the market is bifurcated into sugar-free and conventional. The conventional segment held a larger market share in 2023.
- By packaging type, the market is segmented into bottles and cans. The bottles segment held a significant share in 2023.
- Based on end user, the market is categorized into on-trade and off-trade. The off-trade segment held a larger share in 2023.
Carbonated Soft Drinks Market Share Analysis by Geography
The geographic scope of the carbonated soft drinks market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
North America dominated the market. A wide range of iconic brands such as Coca-Cola Company, PepsiCo, Keurig Dr Pepper, Refresco, and National Beverage Corporation have their bases in North America. Additionally, the variety of flavors and brands appeals to diverse consumer preferences, contributing to sustained demand. Carbonated soft drinks are readily available in various formats, including bottles, cans, and fountain drinks, making them easily accessible for consumers on the go.
Carbonated Soft Drinks Market Report Scope
Report Attribute
Details
Market size in 2023
US$ 296.62 Billion
Market Size by 2031
US$ 445.13 Billion
Global CAGR (2023 - 2031)
5.2%
Historical Data
2021-2022
Forecast period
2031
Segments Covered
By Flavor Type - Cola
- Orange
- Lemonade
- Ginger
- Others
By Category - Sugar-free
- Conventional
By Packaging Type - Bottles and Cans
By End-User - On-Trade
- Off-Trade
Regions and Countries Covered
North America - US
- Canada
- Mexico
Europe - UK
- Germany
- France
- Russia
- Italy
- Rest of Europe
Asia-Pacific - China
- India
- Japan
- Australia
- Rest of Asia-Pacific
South and Central America - Brazil
- Argentina
- Rest of South and Central America
Middle East and Africa - South Africa
- Saudi Arabia
- UAE
- Rest of Middle East and Africa
Market leaders and key company profiles
Three Cents Co The Coca-Cola Co PepsiCo Inc Red Bull Fevertree Drinks Plc Monster Beverage Corp Britvic Plc Keurig Dr Pepper Inc Refresco Group
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Report Attribute | Details |
---|---|
Market size in 2023 | US$ 296.62 Billion |
Market Size by 2031 | US$ 445.13 Billion |
Global CAGR (2023 - 2031) | 5.2% |
Historical Data | 2021-2022 |
Forecast period | 2031 |
Segments Covered |
By Flavor Type
|
Regions and Countries Covered | North America
|
Market leaders and key company profiles |
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Carbonated Soft Drinks Market News and Recent Developments
The carbonated soft drinks market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the carbonated soft drinks market are listed below:
- Asahi Group Holdings Ltd plans to expand its global footprints by launching its production facilities in the Chinese market. (Source: Asahi Group Holdings Ltd, Press Release, August 2023)
- Monster Beverage Corp collaborated with CANPACK to create energy drinks with zero sugar. (Source: Monster Beverage Corp, Press Release, February 2023)
- Pepsico collaborated with IHOP Restaurants LLC and launched a new product called Maple Syrup Cola under the carbonated soda category. (Source: Pepsico, Newsletter, March 2024)
Carbonated Soft Drinks Market Report Coverage and Deliverables
The “Carbonated Soft Drinks Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Carbonated soft drinks market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Carbonated soft drinks market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Carbonated soft drinks market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the carbonated soft drinks market
- Detailed company profiles
![Report Coverage](https://www.theinsightpartners.com/assets/rdimages/report_coverage.png)
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
![Segment Covered](https://www.theinsightpartners.com/assets/rdimages/segment_covered.png)
Segment Covered
This text is related
to segments covered.
![Regional Scope](https://www.theinsightpartners.com/assets/rdimages/regional_scope.png)
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
![Country Scope](https://www.theinsightpartners.com/assets/rdimages/country_scope.png)
Country Scope
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to country scope.
Frequently Asked Questions
The carbonated soft drinks market is estimated to be valued at US$ 445.13 billion by 2031.
Rising demand for premium carbonated soft drinks is likely to bring new trends in the carbonated soft drinks market in the coming years.
Three Cents Co, The Coca-Cola Co, PepsiCo Inc, Red Bull, Fevertree Drinks Plc, Monster Beverage Corp, Britvic Plc, Keurig Dr Pepper Inc, Refresco Group, and Asahi Group Holdings Ltd are the major players operating in the market.
The market is expected to register a CAGR of 5.2% during 2023–2031.
North America dominated the global carbonated soft drinks market in 2023.
Rising consumption of carbonated soft drinks among the millennial and Gen Z population and growing strategic initiatives by key players are the key drivers benefitting the carbonated soft drinks market.
The List of Companies - Carbonated Soft Drinks Market
- Three Cents Co
- The Coca-Cola Co
- PepsiCo Inc
- Red Bull
- Fevertree Drinks Plc
- Monster Beverage Corp
- Britvic Plc
- Keurig Dr Pepper Inc
- Refresco Group
- Asahi Group Holdings Ltd