Soft Drinks Market Overview 2024: Forecast Market Size, Major Growth Drivers, And Leading Segments As Per The Business Research Company’s Soft Drinks Global Market Report 2024

The global market reports from The Business Research Company have been updated with the most recent market sizing data for 2024 and projections extended to 2033

LONDON, March 18, 2024 (GLOBE NEWSWIRE) — The global soft drinks market has exhibited robust growth in recent years, with the latest report, ” Soft Drinks Global Market Report 2024,” shedding light on its continued expansion and sustainability initiatives. Published by The Business Research Company, this comprehensive soft drinks market report offers invaluable insights into market trends, growth drivers, and strategic opportunities for stakeholders across the industry landscape.

Market Overview and Growth Projections

The soft drinks market has experienced significant growth, with a projected compound annual growth rate (CAGR) of 5.6% from 2023 to 2024, reaching a size of $465.57 billion. Looking ahead, steady growth is anticipated, with the soft drinks market expected to reach $565.82 billion by 2028, driven by the surging e-commerce sector. Consumers are increasingly turning to digital channels for beverage purchases, presenting opportunities for manufacturers to leverage online platforms for distribution and market expansion.

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E-commerce Sector Driving Growth

The proliferation of e-commerce platforms is poised to fuel the growth of the soft drinks market, offering convenience and accessibility to consumers worldwide. With the projected valuation of the global e-commerce sector reaching $6.3 trillion by 2023 and anticipated to rise further, soft drink manufacturers can tap into online distribution networks to reach diverse demographics and emerging markets efficiently.

Focus on Sustainability

Major companies in the soft drinks market are prioritizing sustainability through eco-friendly packaging initiatives. Recognizing the environmental impact of single-use plastics, these companies are investing in research and innovation to introduce packaging solutions that minimize waste and promote recycling. For instance, Coca-Cola India launched 100% recycled PET bottles in the carbonated beverage category, demonstrating its commitment to sustainability.

Additionally, Sidel developed label-free recycled PET bottles to help food and beverage firms meet their sustainability targets while enhancing shelf appeal and environmental credentials.

Segmentation Analysis

The report provides a comprehensive segmentation analysis of the soft drinks market, categorizing it based on various parameters:

  1. Product: Carbonated Soft Drinks, Juices And Juice Concentrates, Bottled Water, Ready-To-Drink (RTD) Tea And Coffee, Other Products
  2. Flavors: Cola, Citrus, Other Flavors
  3. Distribution Channel: Offline, Online
  4. Application: Supermarket, Convenience Store, Online Stores, Other Applications

Regional Insights

Asia-Pacific emerged as the largest region in the soft drinks market, followed by North America and Western Europe. However, the fastest-growing regions are projected to be Africa and the Middle East, with anticipated CAGRs of 14.30% and 11.65%, respectively.

Competitive Landscape

The global soft drinks market is characterized by fragmentation, with a multitude of players operating in the market. The top ten competitors accounted for 19.06% of the total soft drinks market share in 2022, with PepsiCo, Inc leading the market, followed by Keurig Dr Pepper Inc, Red Bull GmbH, and others.

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Harnessing the Insights: How Players Can Benefit

Stakeholders in the soft drinks market can leverage the insights provided in the report to:

  • Identify emerging opportunities in the e-commerce sector
  • Develop sustainable packaging solutions to meet consumer preferences
  • Expand market presence through strategic partnerships and new product launches
  • Navigate competitive dynamics and regulatory challenges effectively
  • Drive innovation and enhance brand value through eco-friendly initiatives

Soft Drinks Global Market Report 2024 by The Business Research Company provides insights on the soft drinks market size, soft drinks market segments, soft drinks market trends, drivers and restraints, major competitors’ market positioning, revenues and market shares.

The Business Research Company has published over 7,500+ industry reports, covering more than 2,500+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.

Check Out Similar Market Intelligence Reports By The Business Research Company:

Carbonated Soft Drinks Global Market Report 2024

Organic Soft Drinks Global Market Report 2024

Soft Drink And Ice Global Market Report 2024

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