Carbonated Soft Drinks Market Size

Carbonated Soft Drinks Market Analysis

The Carbonated Soft Drinks Market size is estimated at 343.4 billion USD in 2024, and is expected to reach 453.1 billion USD by 2030, growing at a CAGR of 4.73% during the forecast period (2024-2030).

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343.4 Billion

Market Size in 2024 (USD)

453.1 Billion

Market Size in 2030 (USD)

3.54 %

CAGR (2018-2023)

4.73 %

CAGR (2024-2030)

Largest Segment by Soft Drink Type

40.87 %

value share, Standard Cola, 2023

The superiority of standard cola is attributed to it being one of the oldest carbonated soft drink which is also the favorite drink to be paired with various fast foods.

Largest Region

33.70 %

value share, North America, 2023

Rising urban residents coupled with the demand from the younger population and growing number of social events are contributing to the market's supremacy in the North America region.

Fastest-growing segment by Soft Drink Type

4.94 %

Projected CAGR, Fruit Flavored Carbonates, 2024-2030

Fruit flavoured carbonates is thriving as an alternative to consumers looking for a different experience other than the standard cola, aided by the innovative flavor launches.

Fastest-growing region

8.12 %

Projected CAGR, Africa, 2024-2030

Changing lifestyles with influence from the western world and the growing need for instant refreshing beverages has attributed to the growth of market in the African region.

Leading Market Player

9.49 %

market share, The Coca-Cola Company, 2022

Coca Cola's market dominance is owing to its strong franchise distribution system, multiple production and distribution centers across the globe and prompt innovations.

Diversification of product launches, such as low and zero-calorie drinks, is driving the market growth

Carbonated soft drinks, globally, are increasingly incorporating health attributes and ingredients that resonate with consumer preferences

Carbonated Soft Drinks Industry Segmentation

Diet Cola, Fruit Flavored Carbonates, Standard Cola are covered as segments by Soft Drink Type. Disposable Cups, Glass Bottles, Metal Can, PET Bottles are covered as segments by Packaging Type. Off-trade, On-trade are covered as segments by Distribution Channel. Africa, Asia-Pacific, Europe, Middle East, North America, South America are covered as segments by Region.

• Standard cola dominated the global carbonated beverage market, surpassing other variants. From 2018 to 2023, the standard cola market witnessed a robust CAGR of 5.05%. This growth can be attributed to the strong consumer demand for these beverages, primarily driven by renowned brands like Coca-Cola and Pepsi. These industry giants consistently allocate substantial resources to marketing and advertising, bolstering their market presence.
• The demand for diet cola is rapidly increasing, fueled by rising consumption worldwide. As consumers increasingly opt for lower-sugar options, carbonated soft drink (CSD) manufacturers are diversifying their portfolios. They are introducing low- and zero-calorie variants, along with a range of flavors, to tap into this growing trend. In February 2023, PepsiCo unveiled a caffeine-free lemon-lime soda, branded Starry Lemon & Lime, in both regular and zero-sugar versions. The company announced its wide availability across US retailers and food service outlets. Similarly, in January 2023, Pepsi introduced an enhanced iteration of its Pepsi Zero Sugar, featuring a revamped sweetener system for a more invigorating flavor profile.
• Fruit-flavored carbonated beverages are poised to witness the highest CAGR of 7.40% during 2024-2030. These sodas, often crafted with natural sweeteners and low or no-calorie formulations, align with consumers' growing health consciousness. The rising preference for natural ingredients and a desire for diverse taste options are expected to fuel the demand for these fruit-flavored, natural sweetener-infused sodas in the coming years.