The Carbonated Soft Drinks Market is segmented by Soft Drink Type (Diet Cola, Fruit Flavored Carbonates, Standard Cola), by Packaging Type (Disposable Cups, Glass Bottles, Metal Can, PET Bottles), by Distribution Channel (Off-trade, On-trade) and by Region (Africa, Asia-Pacific, Europe, Middle East, North America, South America). Market Value in USD and Volume in Liters are both presented. Key data points observed include market segmental split by soft drink category, packaging type, distribution channel, and region

The Global Carbonated Soft Drinks Market Size Was Worth USD 445.80 Billion in 2022 and Is Expected To Reach USD 630.89 Billion by 2030, CAGR of 4.44%.

This timeline shows the market share of leading carbonated soft drink (CSD) companies in the United States from 2008 to 2022. Throughout this entire period, the Coca-Cola Company was the leading CSD company. In 2022, Coca-Cola's carbonated soft drink market share amounted to roughly 46 percent.

 Carbonated soft drinks

Carbonated soft drinks belong to the non-alcoholic beverage industry. Depending on the region, they are also well-known as soda, pop, or carbonated beverages, and cover drinks containing water, sugar or a type of artificial sweetener, and a flavoring agent. Those fizzy drinks are mostly available in regular and diet varieties. A broader definition of soft drinks may additionally include non-alcoholic ready-to-drink beverages such as juice, bottled water, functional drinks (sports and energy drinks), and coffee and tea (hot and iced). Multinational companies facing the high competition in the soft drink market comprise The Coca-Cola Corporation, Pepsi-Co. Inc. and Dr Pepper Snapple. In this segment, The Coca-Cola Corporation and PepsiCo have been long-term competitors for ages. PepsiCo always has to face the so-called ’Pepsi challenge’ as rivaling with Coca-Cola. The ‘Pepsi challenge’ originally was set up as a taste experiment. Consumers were invited to degust beverages out of two blank cups – one filled with Pepsi Cola and one containing Coca-Cola. Consumers were then asked to evaluate the taste of these two drinks and to make a choice which one of them they would prefer. The blind test let most Americans surprisingly learn that they would prefer Pepsi Cola over Coca-Cola, only guided by taste.

In 2022, Coca-Cola was ranked as the leading carbonated soft drink (CSD) company in the United States with a volume share of 46.3 percent. Ranked second, PepsiCo garnered a volume share of 24.7 percent that year.

The carbonated soft drink industry

Carbonated soft drinks are processed flavored beverages packaged in bottles and cans. Unlike alcoholic beverages, carbonated soft drinks have no age limit and are widely available to consumers in hypermarkets, supermarkets, convenience stores and other retail outlets. In order to appeal to the health conscious, soft drink brands have launched diet or no-sugar versions of their products. In 2018, nearly 52 percent of American consumers aged between 30 and 49 years had had Coca-Cola Zero within the previous month. Some of the biggest companies in the world produced carbonated soft drinks: among them are Keurig Dr Pepper and PepsiCo, who had a global net revenue of 14.1 and 86.4 billion U.S. dollars, respectively. Carbonated soft drinks are segmented into various flavors such as lemon, cola, orange, and grape.

Graph and download economic data for Producer Price Index by Industry: Soft Drink Manufacturing: Soft Drinks, Non-Carbonated (PCU312111312111A) from Dec 2000 to Feb 2025 about soft drink, manufacturing, PPI, industry, inflation, price index, indexes, price, and USA.

The global carbonated beverages market size was $395 billion in 2022 and was anticipated to reach $495 billion by 2030 with a CAGR of just over 4%.

The Non-Carbonated Soft Drinks Market size was valued at USD 138.91 billion in 2023 and is projected to reach USD 221.60 billion by 2032, exhibiting a CAGR of 6.9 % during the forecasts period. Non Carbonated soft drinks are drinks that contain flavorings, sweeteners and sometimes coloring agents, but lack the bubbles or bubbles of carbonated drinks. Still soft drinks can be a refreshing and tasty alternative to sugary soft drinks. However, it is important to be aware of the sugar content of some non-carbonated soft drinks, such as fruit juices and sports drinks. Availability of various types of non-carbonated beverages, per capita income and growing consumer base is expected to drive the growth of the non-carbonated soft drinks market. In addition, the changing lifestyle encourages citizens to consume Ready to Drink (RTD) preparation, which replaces solid food and satisfies the nutritional needs of the body. In addition, several key suppliers are investing in R&D to improve production in the food and beverage industry. Moreover, in recent years, the increasing desire of consumers to drink healthy beverages and changing diets is accelerating the growth of the market.

The two leading carbonated beverage companies are the Coca-Cola Company and PepsiCo Incorporated. In 2015, Coca-Cola Co. controlled just under 50 percent of the global carbonated beverage market, while PepsiCo controlled just over 20 percent of the market.

Coca-Cola - the market leader

Coca-Cola's market share demonstrates their dominance in the soft drink industry. The company also produces a wide range of other beverages to meet consumer’s needs. Other product ranges include juices, tea, coffee, water, and sports drinks. In Latin America, tea and coffee was Coca-Cola's fastest growing product category, whilst soft drinks were growing fastest in Asia Pacific.

Soft drinks market in the U.S.

Between 2018 and 2019, the volume of carbonated soft drinks sold in the United States decreased, while sales of value-added water increased by over eight percent; demonstrating a shift in beverage preferences among Americans. That being stated, carbonated soft drinks still have the highest sales volume of any liquid refreshment beverage in the United States, at over eight billion 192-oz cases.

The India Carbonated Soft Drinks Market is valued at USD 19.5 billion, including industry trends, key players, future opportunities and forecast.

Carbonated Soft Drinks Market Size Volume in Austria, 2021 Discover more data with ReportLinker!

The Soft Drinks Market is segmented by Soft Drink Category (Carbonated Soft Drinks, Energy Drinks, Juices, RTD Coffee, RTD Tea, Sport Drinks), by Packaging Type (Aseptic packages, Disposable Cups, Glass Bottles, Metal Can, PET Bottles), by Distribution Channel (Off-trade, On-trade) and by Region (Africa, Asia-Pacific, Europe, Middle East, North America, South America). Market Value in USD and Volume in Liters are both presented. Key data points observed include market segmental split by soft drink category, packaging type, distribution channel, and region

Carbonated Soft Drinks Market Size Volume in Germany, 2021 Discover more data with ReportLinker!

Carbonated Soft Drinks Market Size Value Per Capita in Finland, 2021 Discover more data with ReportLinker!

According to the Cognitive Market Research Report, the Carbonated Beverages Market size in 2023 was XX Million and is projected to have a compounded annual growth rate of XX% from 2024 to 2031. The drivers of this segment are the growing popularity of carbonated drinks amidst the sedentary and hectic lifestyle and carbonated beverages being included in the meal packages by fast food chains. The COVID-19 outbreak has had a divisive impact on the carbonated beverage industry. Carbonated beverage sales plummeted as a result of lockdowns, which forced the closure of bars, restaurants, and amusement parks. Supply chain disruptions and logistics challenges also had an impact on production and distribution. The carbonated beverages market includes flavour like cola and citrus. In 2023, cola flavour had the most share, accounting for more than XX%. Because of the benefit of being the first to market, cola-flavoured carbonated soft drinks dominate. North America led the worldwide carbonated beverage market. Increased demand for carbonated beverages, shifting eating habits, and a growing young population all contribute to the North American market's expansion. The global carbonated beverage market is fragmented and highly competitive. To stay afloat in the industry, the leading firms are continually implementing new development tactics. Product launches, innovations, mergers and acquisitions, collaborations and partnerships, and extensive R&D are some of the growth methods used by these significant companies to succeed in a competitive market.

Market Dynamics of Carbonated Beverages Market

Key Drivers

The growing popularity of carbonated drinks amidst the sedentary and hectic lifestyle.

Carbonated beverages have grown in popularity as people's lifestyles have become more hectic. The market for low-calorie carbonated beverages has grown in response to customer demand for clean-label, gluten-free, low-calorie, and low-carb food products. The market for functional beverages as a whole is growing, and consumers' knowledge of their health is increasing, which is driving demand for low-calorie drinks. The easy availability of low- or zero-calorie drinks, which can be obtained at Walmart and other convenience stores, has supported the market's growth. To attract new customers, big manufacturers are always experimenting with new flavours and technologies for zero-calorie beverages. Consumer demand for carbonated soft drinks, distinguished by their numerous tastes and pleasant appeal, drives the growth of this market category. The industry's capacity to innovate by providing new tastes and product variants helps to fulfill consumer preferences, which drives market growth. Carbonated beverages can lengthen sensations of fullness after meals more than plain water. They may help food stay in your stomach for longer periods, causing you to feel fuller. For instance, in a controlled study of 19 healthy young women, fullness scores were greater after drinking 8 ounces (250 mL) of this than after drinking still water. People suffering from constipation may find that drinking this relieves their symptoms. A carbonated drink may even aid digestion by enhancing swallowing skills and minimizing constipation. It's also a calorie-free beverage that produces a pleasant fizzy experience. It is widely preferred over motionless water. (Source: https://www.healthline.com/nutrition/carbonated-water-good-or-bad#bottom-line) Therefore, people’s rising preference for carbonated beverages is driving the market growth.

Carbonated beverages are included in meal packages by fast food establishments.

It has been a trend over the years that fast food restaurants typically the top players like McDonald's, KFC, Subway, and Dominos offer carbonated beverages on their menus. This is because it generates enormous profits for the eateries. Soda is inexpensive, and the two dollars, one spends for a large Coke at McDonald's or any other fast food restaurant outlet is nearly entirely profit for the restaurant. On the contrary, the cup costs more than the drink for the restaurant. Furthermore, the sweet-tart flavor of Coca-Cola pairs well with a greasy burger and fries. Hence, Fast food businesses may provide low-cost choices such as dollar menus because of high-profit margins on soft drinks. They may lose money on certain things, but they make up for ...

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Non Carbonated Soft Drinks Market Size 2024-2028

The non carbonated soft drinks market size is forecast to increase by USD 91.4 billion at a CAGR of 8.38% between 2023 and 2028. The non-carbonated soft drinks market in the US is experiencing significant growth due to several key trends. Health and wellness concerns among consumers are driving the demand for still drinks, including fruit juices, iced tea, and functional beverages. These beverages offer health benefits such as improved digestion, immunity, energy, and other functional advantages. Additionally, the easy availability of these alternatives to traditional carbonated soft drinks and the increased online presence of non-carbonated options have made them increasingly popular choices. Sports drinks and energy drinks, which cater to the health and fitness sector, are also contributing to the market's growth. Overall, the non-carbonated soft drinks market in the US is poised for continued expansion, as consumers seek healthier, more functional beverage options.

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The US beverages market is witnessing a significant shift towards non-carbonated soft drinks, with consumers increasingly opting for healthier alternatives. These beverages, also known as still drinks or flat drinks, include fruit juices, sports drinks, iced tea, energy drinks, functional beverages, and natural product drinks. Health and fitness are key drivers for this trend, as consumers seek to improve their digestion, boost immunity, and adopt a healthy dietary pattern. Fruit juices, with their natural flavors and nutrient content, are particularly popular. However, other categories like iced tea, coffee, and low-sugar soft drinks also hold a strong presence.

Moreover, Sugar reduction is another significant trend, with consumers moving away from sucrose and carbonation interaction towards natural sweeteners and no-sugar options. Advertising campaigns for these beverages often their health benefits, appealing to the health-conscious US audience. Innovation in the non-carbonated soft drinks market continues, with new product launches in categories like espresso, game beverages, and functional beverages. The shining flavor of these drinks, derived from natural citrus extracts and other natural ingredients, adds to their appeal. Overall, the US non-carbonated soft drinks market is poised for growth, driven by changing consumer preferences and innovative product offerings.

Market Segmentation

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for 2024-2028, as well as historical data from 2017-2022 for the following segments.

Product Type

  Fruit juices
  Sports drinks


Distribution Channel

  Offline
  Online


Geography

  APAC

    China
    Japan


  North America

    US


  Europe

    Germany
    UK


  South America



  Middle East and Africa

By Product Type Insights

The fruit juices segment is estimated to witness significant growth during the forecast period. Fruit juices have gained significant traction in the beverage market as a healthier alternative to carbonated drinks. These beverages are rich in essential vitamins, minerals, and antioxidants, making them an attractive option for health-conscious consumers. The preference for natural and organic products has extended to fruit juices, with a growing demand for those made from fresh, natural fruits and free from added preservatives, artificial flavors, and excessive sugar. Hypermarkets and convenience stores are major distribution channels for non-carbonated fruit juices. Additionally, e-commerce platforms have made it easier for consumers to access a wide range of options, including those with natural sweeteners and organic ingredients.

Moreover, innovative flavors, such as cucumber and ginger, have also contributed to the growth of this market. However, it's important to note that not all fruit juices are created equal. Some may contain added sugars or artificial ingredients, which can pose health risks. Therefore, it's crucial for consumers to read labels carefully and opt for those that are 100% fruit juice with no added sugars or preservatives. Bottled water and other non-alcoholic beverages continue to compete with fruit juices, but the latter's nutritional benefits make them a popular choice for those seeking to maintain a balanced and healthy diet.

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The fruit juices segment was valued at USD 77.50 billion in 2018 and showed a gradual increase during the forecast period.

Regional Insights

APAC is estimated to contribute 34% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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Soft drink manufacturers are facing challenging conditions. Changing consumer preferences are shifting demand away from beverages that are perceived to be unhealthy. Additionally, intense price competition among the major manufacturers and private-label competitors is harming profitability. Even so, the growing popularity of high-value sports, energy and other drinks, and an increasing focus on diet, low-sugar and sugar-free drinks have been partly offsetting these challenging trends. Soft drink manufacturers' revenue is expected to have fallen at an annualised 1.3% over the five years through 2024-25, to $3.9 billion. This includes an anticipated dip of 0.5% in 2024-25 as rising health consciousness weighs on demand. Weak retail conditions and negative consumer sentiment are discouraging consumer spending. Soft drink manufacturers have undertaken aggressive discounting strategies, particularly among cola varieties, to attract consumers and lift sales volumes. Increased health consciousness among consumers is shifting demand from beverages with high sugar content, like high-sugar carbonated soft drinks (CSDs), towards other beverages that are perceived to be being healthier. This trend has encouraged a shift towards low-sugar and sugar-free options across many product segments. Functional beverages like sports and energy drinks are also growing in popularity, as consumers are becoming more engaged with active and healthy lifestyles. Soft drink manufacturers are also responding to the rise of green consumerism by increasingly using recyclable packaging materials. Expanding private-label offerings and rising health awareness will likely weigh on sales of high-sugar CSDs in the coming years, as consumers shift to healthier products both in and out of the market. Competition is projected to remain high, intensifying price competition and prompting continued discounting among producers. However, economic conditions are set to improve, which will encourage sales of premium beverages, supporting revenue and profitability. Additionally, purchase expenses are set to fall on the back of declining sugar prices. Revenue is projected to edge upwards at an annualised 0.4% over the five years through 2029-30, to $4.0 billion.

Packaging Type: Bottles and cans remain the most popular packaging formats for carbonated soft drinks, offering durability, convenience, and portability. However, innovative packaging solutions, such as eco-friendly and resealable cans, are gaining traction.Distribution Channel: Supermarkets and hypermarkets continue to hold a strong position in the distribution of carbonated soft drinks, providing ample shelf space and accessibility for consumers. However, convenience stores and online platforms are increasingly gaining market share due to their convenience and wider reach. Recent developments include: February 2022: PepsiCo Inc. launched its novel nitrogen-infused cola under the brand name Nitro Pepsi. The new cola variety is developed in such a way that the composition is softer than the conventional soft drink. The company has developed it using a similar technology used to manufacture beverages like beer and coffee to create the intended foam and froth. The Nitro Pepsi is launched with two flavors namely draft Cola and vanilla draft cola., January 2022: Refresco has acquired Hansa-Heemann. Hansa-Heemann is a Germany-based carbonated soft drink and mineral water manufacturing company and involves in contract manufacturing processes for other companies on an order basis. The acquisition is expected to strengthen the product portfolio, boost its geographical reach, and diversify the Refresco business., March 2020: Britvic Plc launched a colorful packaging design for Pepsi Max. The redesign is aimed at targeting Gen-Z and millennial consumers in the UK region. The new design is launched for three of its existing flavors cherry, raspberry, and ginger with the company’s recycling message incorporated in the design.. Key drivers for this market are: Health Benefits of Betaine 28, Widespread Application in Various Industries 28. Potential restraints include: Fluctuating Raw Material Prices 27, Availability of Substitutes 28. Notable trends are: Growing demand from various end-use applications is driving the market growth..

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Soft Drink Concentrates Market Size 2024-2028

The soft drink concentrates market size is forecast to increase by USD 17.3 billion at a CAGR of 7.45% between 2023 and 2028.

The market is experiencing significant growth, driven by a strong distribution network and the increasing demand for craft soft drinks. This trend is particularly noticeable in regions with a high consumer preference for flavored beverages and a growing health and wellness conscious population seeking healthier alternatives. However, the market faces challenges due to increasing obesity rates and other related health issues, leading to regulatory scrutiny and consumer concerns. As a result, companies must navigate these challenges by offering healthier options, innovative flavors, and sustainable production methods to meet evolving consumer demands. Additionally, strategic partnerships and collaborations with retailers and distributors can help expand market reach and strengthen market position. Overall, the market presents both opportunities and challenges for investors and companies seeking to capitalize on consumer preferences and navigate regulatory and health-related issues effectively.

What will be the Size of the Market during the forecast period?

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The market encompasses the production, sale, and distribution of concentrates used In the manufacture of various beverages, including carbonated and non-carbonated soft drinks. Key ingredients in soft drink concentrates include water, sweeteners such as high-fructose corn syrup, sugar, and artificial sweeteners, and flavorings. Urbanization and changing consumer preferences have driven significant growth in this market, with demand for new flavors, organic beverages, and functional ingredient claims increasing. Hypermarkets, convenience stores, online retailers, and other channels serve as key distribution channels. Cost of shipping and logistics remain important considerations, particularly for carbonated beverages that require specialized handling.
The market's size is substantial, with a diverse range of offerings including cola, non-cola, mango, and other flavors, as well as caffeinated and non-caffeinated options. Clean label and personalized flavor experiences are emerging trends, with consumers seeking natural, preservative-free, and additive-free beverages. The market is dynamic and constantly evolving, with ongoing innovation in flavors, ingredients, and packaging.

How is this Industry segmented?

The industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

Distribution Channel

  Offline
  Online


Type

  Carbonated
  Non-carbonated


Geography

  Europe

    Germany
    UK


  North America

    US


  APAC

    China
    Japan


  South America



  Middle East and Africa

By Distribution Channel Insights

The offline segment is estimated to witness significant growth during the forecast period. Soft drink concentrate manufacturers distribute their products through various offline channels, including hypermarkets, supermarkets, clubhouse stores, department stores, and independent retailers. Retailers employ effective strategies such as competitive pricing and expansive product assortments to maintain market presence amidst the shift toward online shopping. Soft drink concentrates are also sold through specialty stores and convenience stores, with retailers utilizing eye-catching displays to boost sales. Key ingredients in soft drink concentrates consist of water, sweeteners like high-fructose corn syrup and sugar, sweetening agents, coloring, and fruit concentrates. Consumers increasingly demand high-quality, natural, and functional beverages with nutritional values, leading to the growth of functional drinks, natural energy drinks, and plant-based protein drinks.

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The offline segment was valued at USD 21.10 billion in 2018 and showed a gradual increase during the forecast period.

Regional Analysis

Europe is estimated to contribute 42% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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The European market is projected to expand due to the rising demand for ready-to-drink beverages in urbanized areas, such as Germany and Italy. This trend is attributed to the convenience of having a readily available supply without disruptions. However, consumer preferences are shifting towards natural beverages free of artificial sweeteners, which may limit market growth in established mark

Explore the Soft Drinks Global Market Report 2025 Market trends! Covers key players, growth rate 5% CAGR, market size $598.26 Billion, and forecasts to 2033. Get insights now!

United States - Producer Price Index by Industry: Soft Drink Manufacturing: Soft Drinks, Non-Carbonated was 197.03600 Index Dec 2000=100 in February of 2025, according to the United States Federal Reserve. Historically, United States - Producer Price Index by Industry: Soft Drink Manufacturing: Soft Drinks, Non-Carbonated reached a record high of 206.05100 in June of 2023 and a record low of 100.00000 in December of 2000. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Producer Price Index by Industry: Soft Drink Manufacturing: Soft Drinks, Non-Carbonated - last updated from the United States Federal Reserve on March of 2025.