Market Trends of carbonated soft drinks Industry
Carbonated soft drinks, globally, are increasingly incorporating health attributes and ingredients that resonate with consumer preferences
- The frequency of consumption of carbonated soft drinks is influenced by multiple factors such as taste preferences, convenience, cultural norms, health considerations and demographic factors. The highest consumption of soft drinks is in the Americas, followed by Europe and Asia Pacific. In the Americas, the average person consumes 152 liters of soft drinks per year. In Europe, the average is 91 liters per year, and in Asia Pacific, it is 62 liters per year.
- The growing demand for clean-label, gluten-free, low-calorie, and low-carb products led to the growth of the low-calorie carbonated beverages market. The growth in the overall functional beverage market and increasing health consciousness among consumers have fuelled the growth of low-calorie carbonated soft drinks. Packaging is another key product attribute that affects consumer perception. The design, size and functionality of soda packaginhg is influencing purchasing decisions with eye-catching labels and vibrant colors.
- Price sensititivy is an important parameter that influences the carbonated soft drinks market as they are often considered affordable indulgences with relatively low price sensitivity among consumers. Rapid urbanization is another key factor behind the significant market growth globally. The global urbanization rate was 57% in 2022. The population living in large urban areas in the country has increased constantly supporting the gorwth of carbonated soft drinks.
- Higher demand for low calories and sugar free alternatives has risen among consumers globally due to health effects of high sugar intake and consumption diabetes and obesity. Around 13% of adults in the world are obese, and 39% of adults are overweight. Another factor shaping the current market scenario is the implemenation of regulatory measures aimed at reducing sugar consumption. Governments across regions are introducing taxes on sugary beverages and implementing labelling requirements accordingly.
OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- The growing trend towards low-calorie options and innovations in flavors is driving the market growth
- Coca-Cola's enduring success is renowned for its creative and resonant marketing campaigns, diverse product portfolio, packaging innovations, collaborations
