Soft Drinks Market Emerging Trends, Opportunities and Forecasts 2028

Soft Drinks Market Growth & Trends

The global soft drinks market size was estimated to reach USD 592.86 billion by 2028 and is expected to expand at a CAGR of 5.2% from 2022 to 2028. Rising disposal incomes, changing lifestyle, and a growing population is expected to promote market growth over the next few years. Rising popularity among the millennials and increasing investments in R&D in the food and beverage sector is expected to drive the industry demand. Large acceptance of online food delivery along with e-commerce platforms owing to benefits associated with it such as coupons, discounts, and cash-on-delivery are providing eye-catching opportunities to the producers targeting to reach out to a large number of customers.

U.S. soft drinks market size, by distribution channel, 2019 - 2028 (USD Billion)

Soft Drinks Market Segmentation

Grand View Research has segmented the Global Soft Drinks market on the basis of product, distribution channel, and region:

Based on the Product Insights, the market is segmented into Carbonated and Non-carbonated.

  • The carbonated segment contributed to the largest revenue share of around 70% in 2021 and is forecasted to expand with a CAGR of 4.3% from 2022 to 2028. Carbonated drinks are more popular thus capturing more market revenue. The products are continually being improved and innovated to create something for everyone. The ingredients such as flavors, sugar, coloring agents, and sweeteners generate the taste and provide coolness for every sip. Moreover, manufacturing technology such as mass production lines and improved packaging systems are contributing to the market revenue.
  • The non-carbonated segment is expected to register the highest CAGR of 6.9% from 2022 to 2028. Non-carbonated drinks do not undergo the carbonation process thus, are healthier than carbonated. These drinks are pasteurized to protect them from spoilage during the manufacturing process. Considering the health benefits, this segment is expected to grow during the forecast period.

Based on the Distribution Channel Insights, the market is segmented into Hypermarkets and Supermarkets, Convenience Store, Online, Others.

  • Hypermarkets and supermarkets distribution channel contributed the largest market share of around 40% in 2021 and is estimated to expand at a CAGR of 3.9% from 2022 to 2028. Supermarkets and hypermarkets are a type of organized channel which offer more customer-oriented services by selling a variety of FMGC products directly to the consumers. These stores provide a choice of physical verification of products to the buyers and contribute to the market revenue.
  • The online distribution channel is forecast to expand with a higher CAGR of 7.1 from 2022 to 2028. An increasing trend among consumers regarding online shopping portals and mobile apps for shopping due to simplicity and convenience. Products are available at economic rates via online channels compared to offline. End-users choose and believe the brands, those who manufacture and check the quality of products. Moreover, end-users choose the most believed shopping portals or mobile apps to purchase.

Soft Drinks Regional Outlook

  • North America
  • Europe
  • Asia Pacific
  • Central & South America
  • Middle East and Africa (MEA)

Market Share Insights

  • January 2020: Coca-Cola expanded its 2 new sugar-free products to its PowerAde for Athletes. Top players such as Sprite have started to concentrate on introducing improved and rebranded products that have minor sugar content, condensed at least by 50%, and comprising mixtures of sugar, acesulfame, as well as aspartame. Such initiatives are expected to boost the adoption rate of the products among consumers.

Key Companies Profile & Market Share Insights

The market is characterized by the presence of various well-established players and several small and medium players. The soft drink companies are mainly focused on constant innovation and development of the quality of elements used; manufacturing methods, packaging & associated materials, and marketing to improve sales.

Some of the prominent players operating in the global soft drinks market include,

  • Pepsico, Inc.
  • Nestlé
  • The Coca-Cola Company
  • Keurig Dr Pepper Inc (KDP)
  • Red Bull GmbH
  • Unilever PLC
  • Monster Energy Company
  • Appalachian Brewing Company
  • ITO EN INC.
  • AriZona Beverages USA LLC

Order a free sample PDF of the Soft Drinks Market Intelligence Study, published by Grand View Research.

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