Global Carbonated Beverages Market size was valued at USD 496.46 Billion in 2024 and is expected to reach USD 771.3 Billion by 2033, at a CAGR of 5.60% during the forecast period 2024 – 2033.
Carbonated Beverages Market: Overview
Carbonated beverages, infused with carbon dioxide, exhibit a characteristic fizz and tangy taste. This process involves pressurized injection of carbon dioxide into the liquid, resulting in the dissolution of gas into the water, and upon pressure release, the formation of bubbles.
One significant driver for the global carbonated beverages market is the shift in consumer preferences towards healthier options. The awareness of health risks associated with high sugar and calorie intake has led consumers to seek alternatives. Many manufacturers are responding to this trend by introducing low-calorie, sugar-free, and naturally flavored products.
Governments and health organizations globally are promoting healthier lifestyle choices, impacting consumer demand for beverages with reduced sugar content. This has spurred the development and marketing of carbonated beverages with natural sweeteners like stevia or fruit extracts.
Continuous innovation in flavors and packaging plays a crucial role in driving the carbonated beverages market. Manufacturers invest in research and development to introduce unique and exotic flavors that cater to diverse consumer tastes.
Advancements in packaging technology, particularly eco-friendly options like recyclable cans and bottles, have gained popularity due to increased environmental awareness. Government initiatives promoting sustainable practices further accelerate the adoption of eco-friendly packaging in the market.
However, health concerns and regulatory restrictions pose significant restraints for the carbonated beverages market. The growing awareness of health risks associated with excessive sugar consumption has led governments worldwide to implement strict regulations and taxes on high-sugar beverages.
For instance, Mexico’s sugar tax resulted in a significant reduction in sales volume. Health organizations recommend limiting sugar intake to address issues such as obesity and diabetes, prompting governments to consider stringent measures. Reformulating products to meet health standards while maintaining taste presents a challenge for manufacturers.
Intense competition and market saturation are additional challenges for the carbonated beverages market. The market’s high competitiveness, with numerous global and regional players, leads to price wars and reduced profit margins. Established brands with strong distribution networks and marketing capabilities pose challenges for smaller players. The emergence of alternative beverage categories diverts consumer preferences away from traditional carbonated beverages, necessitating innovation and differentiation for sustained growth.
On the flip side, there are opportunities for the carbonated beverages market, such as the rising demand for non-alcoholic refreshments. The global trend towards non-alcoholic beverages aligns well with carbonated beverages, offering a versatile choice for consumers seeking refreshing and non-alcoholic options. As health and wellness awareness grows, consumers look for alternatives to sugary and alcoholic drinks, presenting a significant opportunity for carbonated beverages.
The expanding middle-class population in emerging markets is another lucrative opportunity. With rising disposable incomes in countries like India, China, and Brazil, consumers in these markets are inclined to spend on lifestyle products, including beverages. The expanding middle-class demographic seeks diverse and indulgent options, providing a substantial market for carbonated beverages. Manufacturers can strategically target these emerging markets with tailored marketing and distribution strategies.
The global carbonated beverages market is segmented by product type, packaging type, and distribution channels. Flavored Carbonated Drinks held the largest market share in 2022, appealing to a wide range of consumers with various flavor preferences. The Diet and Zero Calorie Beverages segment is the fastest-growing, driven by increasing health consciousness among consumers.
In terms of packaging type, PET Bottles held the largest market share in 2022. It is known for its convenience, lightweight, and recyclability. The Cans segment is the fastest-growing, driven by factors like portability, convenience, and the trend towards sustainability.
Distribution channels in the carbonated beverages market include Retail Stores, Supermarkets, Convenience Stores, Hypermarkets, Online Retail, and On-Premise Outlets (e.g., Restaurants, Cafes, Vending Machines). Supermarkets held the highest market share in 2022, offering a wide variety of carbonated beverages for convenient shopping experiences. The Online Retail segment is expected to be the fastest-growing, reflecting the ongoing trend of online shopping.
Regionally, North America led the carbonated beverages market in 2022, attributed to the established presence of major beverage giants, strong brand loyalty, and continuous product innovations. Asia Pacific emerges as the fastest-growing market, driven by a large and increasingly affluent population, rapid urbanization, and changing lifestyles. Beverage companies in the region capitalize on the trend by introducing innovative flavors and packaging options.
Report Scope
| Feature of the Report | Details |
| Market Size in 2024 | USD 496.46 Billion |
| Projected Market Size in 2033 | USD 771.3 Billion |
| Market Size in 2023 | USD 472.37 Billion |
| CAGR Growth Rate | 5.60% CAGR |
| Base Year | 2023 |
| Forecast Period | 2024-2033 |
| Key Segment | By Product Type, Packaging Type, Distribution Channel and Region |
| Report Coverage | Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends |
| Regional Scope | North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America |
| Buying Options | Request tailored purchasing options to fulfil your requirements for research. |
CMI has comprehensively analyzed Carbonated Beverages Market. The driving forces, restraints, challenges, opportunities, and key trends have been explained in depth to depict in depth scenario of the market. Segment wise market size and market share during the forecast period are duly addressed to portray the probable picture of this Acai Berry industry.
The competitive landscape includes key innovators, after market service providers, market giants as well as niche players ate studied and analyzed extensively concerning their strengths, weaknesses as well as value addition prospects. In addition, the Report covers key players’ profiling, market shares, mergers and acquisitions, consequent market fragmentation, new trends and dynamics in partnerships, and emerging business models.
Recent developments in the carbonated beverages market include product launches like PepsiCo’s Zero Sugar Cream Soda Cola and Zero Sugar Pepsi 18 Week Pack, Coca-Cola’s creation of the first Metaverse beverage “Coca Cola Zero Sugar Byte,” and PepsiCo’s introduction of Soulboost Sparkling Water. Collaborations like Coca-Cola’s partnership with Starbucks for Ready-to-Drink Coffee Beverages showcase the industry’s dynamism and response to evolving consumer trends.
List of the prominent players in the Carbonated Beverages Market:
- The Coca-Cola Company
- PepsiCo Inc.
- Refresco Group
- Suntory Holdings Limited
- National Beverage Corp.
- Asahi Group Holdings
- Tru Blu Beverages
- F&N Foods Pte Ltd
- Bickford’s Australia
- Parle Agro
- ANADOLU GRUBU A.Åž.
- Danone
- JONES SODA CO.
- Keurig Dr Pepper Inc.
- Monster Energy Company
- SODASTREAM INTERNATIONAL LTD.
- Others
These key players are adopting various organic and inorganic growth strategies such as M&A, joint ventures, collaborations, strategic alliances, expansion, and new product launches among others to increase their revenues and business operations.
The Carbonated Beverages Market is segmented as follows:
By Product Type
- Cola Drinks
- Flavoured Carbonated Drinks
- Diet and Zero Calorie Beverages
By Packaging Type
- Cans
- Bottles
- PET Bottles
By Distribution Channel
- Retail Stores
- Supermarkets
- convenience stores
- Online Retail
- On Premise Outlets (E.g Restaurants, cafes, and vending machines)
Regional Coverage:
North America
- U.S.
- Canada
- Mexico
- Rest of North America
Europe
- Germany
- France
- U.K.
- Russia
- Italy
- Spain
- Netherlands
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Taiwan
- Rest of Asia Pacific
The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of the Middle East & Africa
Latin America
- Brazil
- Argentina
- Rest of Latin America