Carbonated soft drinks are non-alcoholic fizzy beverages produced utilizing clean water, sugar, natural sweeteners or sugar substitutes (in diet drinks), caffeine, artificial flavoring elements, fruit juice concentrations, preservatives, and coloring agents. Coca-Cola, Sprite, Mountain Dew, and Monster are some of the most prominent soft drink brands consumed all over the globe. The obtainability of carbonated soft drinks in a broad variety of fruit flavors has boosted their requirement among consumers. Carbonated soft drinks are primarily available at convenience stores, fast-food restaurants, casual dining restaurants, movie theaters, dedicated soda stores, and vending machines.
According to the report analysis, ‘Carbonated Soft Drink Market: Current Analysis and Forecast (2021-2027)’ states that the Carbonated Soft Drink market is commonly driven by factors such as growing recreational activities and outdoor music/sports events, augmenting the online platforms selling carbonated drinks, and the speedily rising fitness culture propelling requirement for energy-boosting drinks.
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Based on Packaging Type, the Carbonated Soft Drink market is classified into Bottles, Cans and Others. The Bottles segment underwritten the maximum market to the Carbonated Soft Drink market. The bottles segment is predicted to register the fastest growth rate over the projected period. Soft drink producers use several strategies, product innovations, to build on their client bases.
Based on Distribution Channel, the Carbonated Soft Drink market is classified into supermarkets and hypermarkets, convenience stores and gas stations, food service outlets, online stores and several others. Food service outlets holds the greatest share in the Carbonated Soft Drink market. The global carbonated soft drink market is widely categorized into soft drinks and sports & energy drinks. The speedily surging requirement for carbonated drinks in a variability of unique flavors is a foremost factor behind the growth of this segment.
The packaging is taking on a more 'natural' approach to appeal to customers looking for convenience and healthier choices. Consumer requirement for on-the-go drink solutions shows no sign of slowing down. Within the ready-to-drink market, it has become obvious that utilizing the creative and vibrant packaging can assist to sell the beverage to consumers facing a time crunch and progressively looking for products to fit their active lifestyles. Therefore, convenience trends are propelling the requirement for ready-to-drink beverages.
While carbonated soft drinks are designed to suit clients’ tastes and flavour preferences, during recent years, these products are also being improved to serve as functional beverages for health-conscious consumers. Consumers predict newly introduced soft drinks to be free from certain ingredients that harm health in the long term and actively advance the physical and mental fitness through carefully nominated ingredients. Consumers are probable to exhibit continued requirement for low-sugar soft drinks and products with stress-relieving properties. The augmenting importance laid on mental health and physical well-being is anticipated to propel this trend.
Central and South America registered for the largest share in the recent years. The robust popularity of carbonated soft drinks among the youth population in countries, comprising Brazil, Argentina, and Venezuela, is projected to propel the regional market in the near future.
The Middle East and Africa is projected to emerge as the fastest-increasing regional market with an effective CAGR. The effective growth in disposable income, speedy urbanization, expansion of financial sectors, and new product launches in countries, such as Nigeria and Kenya, are projected to remain favorable aspects for the industry growth.
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Global Carbonated Soft Drink Market
(COVID Version) Global Carbonated Soft Drinks (CSDs) Market Status (2016-2020) and Forecast (2021E-2026F) by Region, Product Type & End-Use
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Ankur Gupta, Head Marketing & Communications