Global CSD market size to expand at CAGR of 5.2% from 2022 to 2028
By Felicia Nwosu
Grand View Research, one of the world’s largest and most trusted BI enabled market research databases, has reported that global Soft Drinks Market (CSD) size was valued at USD 416.19 billion in 2021, and is expected to expand at a CAGR of 5.2% from 2022 to 2028.
The report indicated that various determiners such as rising disposable incomes, changing lifestyle, and a growing population are factors expected to promote market growth over the next few years. Also, the growing demand for clean-label, gluten-free, low-calorie, and low-carb products drives the global soft drinks market as well as the rising popularity among the millennials and increasing investments in R&D in the food and beverage sector are expected to drive the industry demand.
Grand View Research also noted that the global Carbonated Soft Drinks market is anticipated to rise at a considerable rate during the forecast period, between 2023 and 2028. It explained that the market is growing at a steady rate and with the rising adoption of strategies by key players; the market is expected to rise over the projected horizon.
Following the carbonated soft drinks market dynamics, the landscape will also be influenced by other factors that are propelled by increasing demand for sports and energy beverages, as well as rising health and fitness efforts have all contributed to the global market’s rise. Furthermore, as customers become more interested in healthy and functional fluids, demand for low-calorie Carbonated Soft Drinks is increasing.
“North America contributed the largest market share of above 35% in 2021 and is forecasted to witness a CAGR of 4.0% from 2022 to 2028. Early adoption and well-developed economic countries, including the U.S. and Canada are positively contributing to the market revenue. The growing demand for soft drinks is supported by the increasing production of drinks and investments in developing manufacturing assembly lines and packaging technology. The presence of globally known brands such as PepsiCo and Coca-Cola in this region will drive the industry demand.
Additionally, Asia Pacific is forecasted to register the highest CAGR of 6.2% from 2022 to 2028. Countries such as China and India are positively contributing to the market revenue. Japan is also projected to account for major sales volume, while revenue from the market in China is projected to register the fastest CAGR.
In response to key companies & market share insights, new product launches are expected to remain key strategies among the industry participants over the next few years.
The online distribution channel is forecast to expand with a higher CAGR of 7.1 from 2022 to 2028.
Some prominent players in the global carbonated soft drink market include: –
ANADOLU GRUBU A.Åž.
COCA-COLA FEMSA
Danone
JONES SODA CO.
Keurig Dr Pepper Inc.
Monster Energy Company
National Beverage Corp.
PepsiCo
Refresco Group
SODASTREAM INTERNATIONAL LTD.
SUNTORY BEVERAGE & FOOD LIMITED
The Coca-Cola Company
Meanwhile, another notable research platform, Statista, on its part disclosed that revenue in the Carbonated Soft Drinks segment amounts to US$372.10bn in 2023, while the market is expected to grow annually by 3.28% (CAGR 2023-2027).
It said in global comparison, most revenue is generated in the United States (US$149.60bn in 2023). In its review, it indicated that in relation to total population figures, per person revenues of US$48.44 are generated in 2023.
“In the Carbonated Soft Drinks segment, volume is expected to amount to 195.70bnL by 2027. The Carbonated Soft Drinks segment is expected to show a volume growth of 1.5% in 2024.The average volume per person in the Carbonated Soft Drinks segment is expected to amount to 24.51L in 2023.”
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