Global Carbonated Soft Drinks Market Size, Share, Growth Analysis Report - Forecast 2034

Global Carbonated Soft Drinks Market: Industry Perspective

The global carbonated soft drinks market size was worth around USD 467.2 Million in 2024 and is predicted to grow to around USD 821.75 Million by 2034 with a compound annual growth rate (CAGR) of roughly 5.4% between 2025 and 2034. The report analyzes the global carbonated soft drinks market's drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the carbonated soft drinks industry.

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Global Carbonated Soft Drinks Market: Overview

Carbonated soft drinks are water-based flavored drinks that are incorporated with carbon dioxide (CO2) at high pressure. The addition of CO2 helps in making the drink achieve a fizzy texture. As per market research, carbonated drinks are the highest ranking in terms of consumer preference worldwide including carbonated soft drinks. One of the primary factors that must be taken into consideration while preparing carbonated water-based beverages is that CO2 should not contain any form of flavor or odor. Some of the main ingredients that are used in the preparation process include sweeteners, carbon dioxide, water, acids, colors, and flavorings. The choice of sweetener used by manufacturers depends on the final goal that the company aims to achieve with the product.

For instance, they can choose to use non-nutritive low-calorie sweeteners or nutritive sweeteners such as fructose. Another important aspect of carbonated soft drinks is the quality of CO2 used in the production. It can be determined based on the size of the bubble which in turn is responsible for the drink to achieve the desired sensory trait. It is the main selling point for carbonated soft drinks. The leading reason for higher growth in the industry for carbonated soft drinks is the increasing number of buyers aided by several external factors.

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Global Carbonated Soft Drinks Market: Growth Drivers

Increasing the number of consumers to drive market growth

The global carbonated soft drinks market is expected to grow owing to the increasing number of consumers worldwide. One factor that greatly influences the number of buyers is the increasing population rate. Along with this, the changes in consumer buying patterns have been detrimental in shaping the demand for beverages, especially carbonated soft drinks. Years of research have helped market players understand that soft drinks made with carbon dioxide helps in improving digestion, more so after consuming heavy food items.

Carbonated soft drinks have become an integral part of several diet cultures in which people consume these drinks after eating to help them digest their meals. The fizziness caused by CO2 helps in calming their stomach issues. Furthermore, the growing rate of disposable income along with rising consumer awareness also assists in delivering better results.

Rising sale of carbonated soft drinks through e-commerce channels to aid better revenue delivery

The consumption rate of carbonated soft drinks has surged due to the increased access to these beverages through e-commerce portals. Online sales channels have deeper market penetration as they reach even the remotest customers. Additionally, they tend to offer delivery at the doorstep thus offering extreme levels of convenience. For instance, in October 2024, DrinksDeli, an alcohol beverage selling online company, launched a new range of non-alcoholic beverages in the Indian market. The growing sale of CO2-induced beverages through food delivery applications such as UberEats further helps the global carbonated soft drinks market growth rate.

Carbonated Soft Drinks Market: Restraints

Negative health impact of carbonated drinks to restrict market growth rate

The global carbonated soft drinks industry is expected to be impacted by the growing awareness about the negative health impact of soda drinks. Sufficient evidence exists in the research community suggesting that excessive consumption of carbonated soft drinks can lead to severe health problems including an increase in weight and cardiovascular conditions. Furthermore, it can also cause other sugar-induced medical issues such as diabetes and high sugar levels. Several regional and international healthcare agencies have been pivotal in spreading mass consumer awareness and insisting on reducing carbonated soft drinks consumption.

Carbonated Soft Drinks Market: Opportunities

Extensive availability of diverse beverages in the market will create growth opportunities

The global carbonated soft drinks market holds growth opportunities due to the increasing launch of new brands and subsegments of soft drinks infused with carbon dioxide. These variants can be found across parameters. For instance, certain companies are offering carbonated soft drinks with healthier ingredients or low sugar content whereas certain companies are deploying customized solutions depending on consumer preference and needs.

In April 2023, Osotspa, a leading Thailand-based producer and distributor of consumer products, launched a new range of healthy soda products thus aiming to disrupt the carbonated soft drink industry. The company has launched Shark Ume Soda made of Japanese plum. As the demand for zero- or low-sugar carbonated drinks is on the rise, consumer goods giant PepsiCo recently announced that it was working on upgrading its existing portfolio of zero-sugar beverages using an updated recipe using a novel sweetener system.

Emerging economies may serve as essential regional markets during the projection period

Nations with increasing per capita expenditure along with rising job opportunities are projected to help the industry for the carbonated soft drinks market grow further. As the total income increases, consumers are likely to adapt their lifestyles to new products. If CO2-rich soft drink markers can launch their products and market them intelligently during this period, they may register a higher return on investment.

Carbonated Soft Drinks Market: Challenges

High competition from alternative beverages to challenge market growth

The global carbonated soft drinks market is likely to be impacted by the presence of a large-scale alternative beverages segment including products such as real fruit juices and non-carbonated drinks. Beverages made of real fruit pulp are considered healthier and typically do not contain harmful additives. In addition to this, carbonated drinks tend to lose the fizz once they are opened thus, they do not serve the purpose of being carbonated leading to more people preferring other alternatives.

Key Insights

• As per the analysis shared by our research analyst, the global carbonated soft drinks market is estimated to grow annually at a CAGR of around 5.4% over the forecast period (2025-2034).
• Regarding revenue, the global carbonated soft drinks market size was valued at around USD 467.2 Million in 2024 and is projected to reach USD 821.75 Million by 2034.
• The carbonated soft drinks market is projected to grow at a significant rate due to rising popularity of flavored and functional drinks, increasing demand for convenience beverages, growing disposable incomes in emerging markets, and expanding retail and e-commerce distribution networks.
• Based on Flavor, the Cola segment is expected to lead the global market.
• On the basis of Packaging Type Channel, the Bottles segment is growing at a high rate and will continue to dominate the global market.
• Based on the Distribution Channel, the Supermarkets & Hypermarkets segment is projected to swipe the largest market share.
• Based on region, North America is predicted to dominate the global market during the forecast period.

Global Carbonated Soft Drinks Market: Report Scope

Global Carbonated Soft Drinks Market: Segmentation

The global carbonated soft drinks market is segmented based on distribution channel, flavor, packaging type channel and region. All the segments have been analyzed based on present and future trends and the market is estimated from 2025 to 2034.

Based on distribution channel, the global market is divided into hypermarkets/supermarkets, convenience stores, gas stations, e-commerce channels, food service outlets, and others. In 2024, the highest growth was witnessed in the hypermarkets/supermarkets segment led by the growing presence of several massive supermarket retail chains globally. The increasing penetration of brands such as Walmart, Target, Tesco, and others will shape the segmental revenue stream during the projection period. As of 2024, Walmart operated in around 19 countries with a total of more than 10,000 stores.

Based on flavor, the global market divisions are citrus, cola, and others. In 2024, the most dominating segment was cola as it held control over more than 51% of the total share. The immense popularity of cola-based carbonated soft drinks is a major reason for the higher growth rate. The citrus segment is growing at a steady rate with the growing launch of low-calorie citrus-flavored carbonated soft drinks. However, the flavor demand is entirely dependent on the personal preferences of the customers.

On the basis of Packaging Type Channel, the global carbonated soft drinks market is bifurcated into Bottles, Cans.

The Regional, this segment includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America,and the Middle East and Africa.

Global Carbonated Soft Drinks Market: Regional Analysis

The carbonated soft drinks market shows distinct regional dynamics, with North America maintaining significant market share due to established consumption habits and the strong presence of major brands, though growth is slowing as consumers shift toward healthier options. In Europe, demand remains steady, bolstered by premium and innovative flavors, but also faces health-conscious trends and sugar taxes that impact volumes. Meanwhile, Asia-Pacific is experiencing robust growth driven by urbanization, rising disposable incomes, and expanding retail networks, particularly in countries like China and India. Latin America and the Middle East & Africa also present growth opportunities, fueled by younger demographics and increasing urban lifestyles, though economic volatility and health concerns pose challenges in some markets. Overall, regional markets for carbonated soft drinks are shaped by diverse consumer preferences, regulatory landscapes, and shifting health trends.

Global Carbonated Soft Drinks Market: Competitive Analysis

The global carbonated soft drinks market is led by players like:

• Asahi Group Holdings Ltd.
• The Coca-Cola Company
• Dr Pepper Snapple Group
• PepsiCo Inc.
• Keurig Dr Pepper
• Red Bull GmbH
• FEMSA
• Britvic plc
• PepsiCo Inc.
• Nestlé S.A.
• The Coca-Cola Company
• Fomento Económico Mexicano
• S.A.B. de C.V.
• Cott Corporation

Global Carbonated Soft Drinks Market: Segmentation Analysis

The global carbonated soft drinks market is segmented as follows:

By Distribution Channel

• Hypermarkets/Supermarkets
• Convenience Stores
• Gas Stations
• E-Commerce Channels
• Food Service Outlets
• Others

By Flavor

• Citrus
• Cola
• Others

Global Carbonated Soft Drinks Market: Regional Segment Analysis

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa