Carbonated Beverages Market Size, Share, Growth, Trends, and Forecast 2030

Carbonated Beverages Industry Prospective:

The global carbonated beverages market size was evaluated at $395 billion in 2022 and is slated to hit $495 billion by the end of 2030 with a CAGR of nearly 4% between 2023 and 2030.

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Carbonated Beverages Market: Overview

Carbonated beverages make up a large proportion of the soft drinks business across the globe. Moreover, the carbonated beverages include energy drinks and soft drinks. Reportedly, these drinks are manufactured by using one of the two key procedures, premix system and post mix system. The premixing system includes integrating all necessary beverage ingredients and then carbonating & chilling them one or another way.

Moreover, if the drink is to be subjected to flash pasteurization, then it can be chilled and carbonated. In the case of a post-mix system, concentrated syrup comprises of required ingredients except carbon dioxide and water. However, the syrup is regularly subjected to flash pasteurization before its dilution.

Key Insights

• As per the analysis shared by our research analyst, the global carbonated beverages market is projected to expand annually at the annual growth rate of around 4% over the forecast timespan (2023-2030)
• In terms of revenue, the global carbonated beverages market size was evaluated at nearly $395 billion in 2022 and is expected to reach $495 billion by 2030.
• The global carbonated beverages market is anticipated to grow rapidly over the forecast timeline owing to the surging consumption of carbonated beverages by the youth.
• In terms of product, the carbonated sports & energy drinks segment is slated to register the highest CAGR over the forecast period.
• Based on flavor, the cola segment is expected to dominate the segmental growth in the coming seven years.
• Based on distribution channel, the foodservice outlets segment is expected to lead the application space in the forecast timeline.
• Region-wise, the Middle East and African carbonated beverages industry is projected to register the fastest CAGR during the forecast timespan.

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Carbonated Beverages Market: Growth Factors

A massive increase in carbonated beverage intake to boost the growth of the global market by 2030

Surging consumption of carbonated beverages by the youth is likely to steer the growth of the global carbonated beverages market in the coming seven years. Moreover, carbonated drinks enhance the swallowing ability of children as well as adults, thereby steering the global market trends. In addition to this, customers prefer these drinks as they are acidic along with producing a tingling & cooling sensation. Apart from this, these beverages are composed of fruit flavors which have boosted their demand among the consumers.

Furthermore, carbonated drinks are produced by using clean water along with sweeteners and this has enhanced their popularity across the globe. The rise in the use of glass bottles, cans, and high-speed packaging tools for storing carbonated beverages is likely to steer the growth of the market globally. Key market players are adopting the strategy of product portfolio expansion which is likely to contribute lucratively towards the growth in the earnings of the global market as well as increase in the profitability of these players.  For instance, in May 2023, Bisleri International, a packaged drinking water firm based in India, increased its product line of carbonated drinks by launching various flavors and variants such as fizzy cola, Jeera, and orange under Bisleri Brand.

Carbonated Beverages Market: Restraints

The high sugar content of the product becoming a key cause for the occurrence of diabetes in individuals can hinder the global industry growth 

The large sugar content of these drinks has resulted in a surge in the cases of diabetes, calcium deficiency, and obesity, thereby retarding the expansion of the global carbonated beverages industry. In addition to this, less availability of raw materials used in the manufacture of carbonated beverages is predicted to put brakes on the global industry surge.  

Carbonated Beverages Market: Opportunities

The rise in the sale of products in fast food restaurants has opened new growth opportunities for the market across the globe

The growing use of serving the product as a beverage in a spectrum of fast-food restaurants and cafes will open new growth avenues for the global carbonated beverages market. In addition to this, a surge in the customer demand for the beverages in both the emerging economies as well as developed countries will steer the global market size.

Moreover, key industry players are focusing on packaging carbonated drinks in renewable packaging and this will further shape the growth of the market globally. Citing an instance, in October 2023, the Coca-Cola Company, a U.S.-based beverages firm, launched a hundred percent recycled PET for Kinley, a packaged drinking brand of Coca-Cola.    

Carbonated Beverages Market: Challenges

Strict laws imposed by various governments related to the prohibition of the use of colors in products can be a huge challenge for the global industry expansion    

The addition of sweeteners and preservatives can make an individual obese, thereby creating a huge challenge for the global carbonated beverages industry. In addition to this, strict laws imposed by governments of developed as well as emerging economies regarding the use of colors in drinks owing to growing health concerns can impede the growth of the industry globally.      

Carbonated Beverages Market: Segmentation

The global carbonated beverages market is sectored into product, flavor, distribution channel, and region.

In product terms, the carbonated beverages market across the globe is divided into carbonated soft drinks, carbonated water, and carbonated sports & energy drinks segments. Furthermore, the carbonated sports & energy drinks segment, which amassed about three-fourths of the global market revenue in 2022, is expected to register the fastest annual rate of growth over the forecast timeline. The expansion of the segment during 2023-2030 can be a result of the rise in product demand in various kinds of sports events held across the year.  

Based on the flavor, the global carbonated beverages industry is sectored into cola and fruit-based segments. Additionally, the cola segment, which garnered a key share of the global industry in 2022, is anticipated to dominate the segmental expansion in the forecasting years. The segmental expansion over the next seven years can be owing to the first mover benefit accrued by cola products. Apart from this, the launching of zero-calorie products by Coca-Cola and PepsiCo can benefit segmental growth.    

Based on the distribution channel, the carbonated beverages market globally is segregated into foodservice outlets, D2C, and online stores segments. Moreover, the foodservice outlets segment, which contributed a major share of the global market in 2022, is set to record exponential growth in the forecast timeline. The segmental surge over the period from 2023 to 2030 can be a result of an increase in the various kinds of carbonated drinks offered by foodservice outlets such as TGI Fridays, Denny's, McDonald's, The Cheesecake Factory, KFC, Taco Bell, Red Lobster, Chipotle, Buffalo Wild Wings, and Longhorn Steakhouse.

Carbonated Beverages Market: Report Scope

Carbonated Beverages Market: Regional Insights

North America is predicted to retain its global market domination over the forecast timeline

North America, which contributed about two-fifths of the global carbonated beverages market earnings in 2022, will be a leading region in the forecast period. Moreover, the regional market surge over the period from 2023 to 2030 can be ascribed to a rise in the consumption and demand for carbonated drinks in countries such as Canada and the U.S. Furthermore, easy availability of the products and rise in the preference for products by youth will steer the growth of the market in the region.  

The Middle East and African carbonated beverages industry is set to record the fastest CAGR in the next couple of years. The growth of the industry in the Middle East & Africa can be attributed to a rise in the consumption and demand for carbonated beverages in countries such as Kenya and Nigeria. Additionally, swift urbanization in the region and the presence of vendors, local manufacturers, and suppliers along with the availability of strong supply chain facilities in the region will steer the expansion of the industry in the region.  

Carbonated Beverages Market: Competitive Space

The global carbonated beverages market profiles key players such as:

• National Beverage Corp.
• ANADOLU GRUBU A.Åž.
• SUNTORY BEVERAGE & FOOD LIMITED
• SODASTREAM INTERNATIONAL LTD
• Danone S.A.
• PepsiCo
• The Coca-Cola Company
• Keurig Dr Pepper Inc.
• JONES SODA CO.
• Monster Energy Company
• Refresco Group.

The global carbonated beverages market is segmented as follows:

By Product

• Carbonated Soft Drinks
• Carbonated Water
• Carbonated Sports & Energy Drinks

By Flavor

• Cola
•  Fruit-Based

By Distribution Channel 

• Foodservice Outlets
• D2C
• Online Stores

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa