The carbonated beverage market is anticipated to show modest growth at a CAGR of around 4.0% during the forecast period. Carbonated beverages are the drinks that have carbon-dioxide added to them. These beverages can have carbonated water or soda water as a base and flavor and sweetener are also added. Increasing volume sales of the soft drink due to increasing population base and increasing disposable income and high popularity of famous brands of PepsiCo and Coca-Cola are some of the major factors driving the market growth. Moreover, continuous innovation with the flavor and packaging is also motivating the market for substantial growth.
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However, the health issue related to carbonated drinks is one of the major restraining factors for the growth of the market. Due to this, these companies have are also offering energy drinks and other low-calorie, low-sugar, and diet varieties of beverages. Besides, environmental pollution due to waste bottles of carbonated beverages is one of the major challenges for beverage companies and governments all across the globe.
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A trivial impact of the COVID-19 pandemic has been registered in the carbonated beverage industry. Public places such as restaurants, hotels, cafes, educational institutions, tourist places are among the key point of sales for carbonated beverages. Amid lockdown, these places have to be closed due to which sales of the carbonated beverage affected. As per PepsiCo, as people are living more in homes an increment in snack consumption has been registered in the US whereas beverage has seen a downfall in consumption.

Market Segmentation

The carbonated beverage market is segmented on the basis of type, packaging, and flavor. By type, the market is further segmented into standard, diet, fruit-flavored carbonates, and others. Standard carbonated beverage is expected to have a major market share during the forecasted period. Fruit flavored carbonates are expected to have a major market share as in order to increase their market share the companies are offering new innovative flavors to the market.

By packaging, the market is segmented into canned, glass bottle, PET bottle, and others. Significant growth in the canned packaging is expected to be registered during the forecast period with the increase of the diet carbonated drink market. PET bottles are expected to have a major market share; however, with the increasing unit volume of the carbonated drinks every year, the number of PET bottles has increased continuously. Due to increasing pollution, the companies are expected to shift from PET bottles to glass bottles or canned packaging. By flavor, the market is segmented into cola, orange, lemonade/lemon, and others. Cola flavor holds a major market share in the carbonated beverage market with a substantial share of orange, and lemonade/lemon. Other flavor segment is expected to show a lucrative market growth during the forecast period.

Regional Outlook

On the basis of geography, the global carbonated beverage market is studied in North America, Europe, Asia-Pacific, and the Rest of the World (RoW). North America holds the major market share during the forecast period. The market is mature in the region and will witness a modest growth rate. Whereas in Asia-Pacific, a lucrative growth will be witnessed due to the increasing popularity of diet and new fruit-flavored carbonated beverages in the region.

Market Players Outlook

The carbonated drinks market is a consolidated market and The Coca-Cola Co., and PepsiCo, Inc. hold a very large share all across the globe. PepsiCo owns various soft drink brands including Pepsi, Diet Pepsi, Mountain Dew, 7 Up, Pepsi Max, and others. Moreover, Coca-Cola owns brands like Diet Coke, Fanta, and Sprite. Some of the other major market players include Asahi Group Holdings, Ltd., Keurig Dr. Pepper Inc., Parle Agro Pvt. Ltd., and the Hangzhou Wahaha Group Co., Ltd. These market players are adopting growth strategies including mergers and acquisitions, product launches, expansions, partnerships & collaborations, innovative packaging, and unique flavors to gain a competitive edge in the market. For instance, PepsiCo. has set packaging targets such as all the packaging to be recyclable, compostable or biodegradable by 2025 and to reduce virgin plastic content in beverage portfolio by 35% till 2025.

The Report Covers

Market value data analysis of 2019 and forecast to 2026.
Annualized market revenues ($ million) for each market segment.
Country-wise analysis of major geographical regions.
Key companies operating in the global Carbonated Beverage market. Based on the availability of data, information related to pipeline products, and relevant news is also available in the report.
Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
Analysis of market-entry and market expansion strategies.
Competitive strategies by identifying ‘who-stands-where’ in the market.
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