NEW YORK, Nov. 24, 2023 /PRNewswire/ — The soft drinks market size is expected to grow by USD 622.47 billion from 2022 to 2027, according to Technavio. In addition, the growth momentum of the market will progress at a CAGR of 9.98% during the forecast period. A hectic lifestyle and need for instant energy are notably driving the soft drinks market. However, factors such as increasing obesity rates and related issues may impede market growth. The market is segmented by Product (Carbonated soft drinks, Juices and juice concentrates, Bottled water, RTD tea and coffee, and Others), Distribution Channel (Offline and Online), and Geography (North America, Europe, APAC, South America, and Middle East and Africa). Technavio provides a comprehensive report summary describing the market size and forecast along with research methodology. The Free sample report is available in PDF format
Key Segment Analysis
The market share growth by the carbonated soft drinks segment is significant during the forecast period. The popularity and increased consumer preference for alternatives such as bottled water. However, concerns about the high sugar and caffeine content of carbonated soft drinks, which can have negative health impacts, are also contributing to declining sales. For instance, major brands like PepsiCo and Coca-Cola have experienced a decrease in volume sales over the last five years, and the COVID-19 pandemic has further impacted sales at retail stores. Hence, such factors drive the segment growth during the forecast period. To know additional highlights and key points on various market segments and their impact in coming years, View a FREE PDF Sample Report.
Geographical Market Analysis
North America will account for 36% of the market growth during the forecast period. Factors such as new product launches and product innovations are driving the growth of the soft drinks market in North America. Also, the adoption of online platforms for the distribution of non-essential items, including soft drinks is contributing to the growth of the regional market. The rising preference for bottled water, supported by a new product lineup featuring ten flavors with no added sugar, sweeteners, or colors fuels market growth in the region.
Company Insights
The soft drinks market is fragmented, and the companies are deploying organic and inorganic growth strategies to compete in the market. The report analyzes the market’s competitive landscape and offers information on several market companies, including:
Asahi Group Holdings Ltd., Danone SA, Del Monte Pacific Ltd., Dongpeng Beverage Group Co. Ltd., Keurig Dr Pepper, Kirin Holdings Co. Ltd., Mondelez International Inc., Monster Energy Co., National Beverage Corp., Nestle SA, Otsuka Holdings Co. Ltd., Parle Agro Pvt Ltd., PepsiCo Inc., POSTOBON S.A, Purity Soft Drinks Ltd., Red Bull GmbH, Refresco Group BV, Starbucks Corp., Suntory Holdings Ltd., Tata Consumer Products Ltd
Related Reports:
- The functional drinks market is estimated to grow at a CAGR of 8.28% between 2022 and 2027. The size of the market is forecast to increase by USD 57.04 billion.
- The sports drink market is estimated to grow at a CAGR of 6.18% between 2022 and 2027. The size of the market is forecast to increase by USD 13,518.01 million.
ToC:
Executive Summary
Market Landscape
Market Sizing
Historic Market Sizes
Five Forces Analysis
Market Segmentation by Product
Market Segmentation by Distribution Channel
Market Segmentation by Geography
Customer Landscape
Geographic Landscape
Drivers, Challenges, & Trends
Company Landscape
Company Analysis
Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
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Website: www.technavio.com
SOURCE Technavio
