Global Carbonated Soft Drinks Market Facts and Trends (2021 Update)
The global carbonated soft drinks market is a section of the non-alcoholic beverage industry, that includes both regular and diet fizzy drinks, as well as energy and sports drinks. It is an incredibly competitive marketplace.
Part of what makes it so competitive is the fact that carbonated soft drinks, whether you call them soda, pop, or by their brand names, appeal to everyone and there are no restrictions on who can and can’t drink them.
You just need to walk down the soft drinks aisle of your local supermarket or convenience shop to see how big the industry is.
In the following post, we are going to lift the lid on the global carbonated soft drinks market and look at some of the interesting facts and figures relating to it.
The things you’ll learn in this post about the global carbonated soft drinks market include:
[lwptoc]
Although we’re sure you probably have a good idea about certain companies that dominate the market, like Coca-Cola and Pepsi, there will be some things you’re sure to find surprising.
How Much is the Global Carbonated Soft Drinks Market Worth?
When discussing the soft drinks market as a whole and its market size, it is important to make some distinctions.
To give a clear overview of the global carbonated soft drinks market, we are going to cover not just carbonated soft drinks, but non-carbonated soft drinks and soft drinks as a whole.
Taking soft drinks as a whole, first, by the end of 2021, the worldwide soft drinks market has been projected that it will be worth $742,235m.
Within that, the carbonated soft drinks market is expected to reach a revenue of $394,179m by the end of 2021.
Whereas, the non-carbonated soft drinks market is expected to reach a revenue of $348,055m by the end of 2021.
While it’s clear that the carbonated soft drinks segment of the soft drinks market is more lucrative, we were surprised that it didn’t have a bigger share.
Need help from an experienced international food and beverage marketing agency to get your beverage in front of a larger market? At Greenseed Group, we’ve got the expertise to help.
What Are the Most Popular Carbonated Drinks Sold in the Market?
Unsurprisingly, when you look at the global charts and figures regarding global carbonated soft drinks for most years, whether you are looking at the UK, the US, or globally, it is almost always Coca Cola and their classic coke that is the most popular.
Within the diet carbonated drinks market, Diet Coke, also from Coca-Cola is the most popular.
We say almost always because it is not always the case.
For example, there is a long-standing myth that Scotland is the only country in the world where Coca-Cola is not the best-selling carbonated soft drink.
Interestingly, while it is true that Irn-Bru, every year, without fail, outsells Coca-Cola, it is not the only country where it happens.
In Cuba and North Korea, there are US trade embargoes in place, which means Coca-Cola is not actually sold there, and therefore, local soft drinks tend to dominate the market in its absence.
Who is the Market Leader in Global Carbonated Soft Drinks Market?
If you’ve been paying attention to our list, this is not really going to be a surprise.
The most powerful companies, those who have the biggest share of the global carbonated soft drinks market, and the non-carbonated soft drinks market are the Coca-Cola Company and PepsiCo Inc. The Dr Pepper Snapple or Keurig Dr Pepper group.
Interestingly, though, according to Wall Street, the shares of Pepsico Inc. gained 19.45% from 2019 to 2020 and 49.20% over the last five years, while Coca-Cola Company experienced a gain of 15.75% and 22.13% in the same periods.
From May 2020, Pepsi-Co enjoyed a market cap of around $188.6b, whereas Coca-Cola Company was $185.8b.
As you can see, it’s difficult to really say which of these brands controls more of the soft drinks market, without looking at specific lines of beverages.
Who Owns What Carbonated Soft Drinks Brands?
Another interesting aspect of the global carbonated soft drinks market is just how many of the most popular soft drinks are produced and/or owned by either Coca-Cola or Pepsico Inc.
While Coca-Cola, in addition to all Coca-Cola varieties (the product it is obviously most famous for) and Diet Coke (although initially released as a diet variation on Coca-Cola, it is a product in it’s own right, especially when you consider the likes of Coke Zero etc), also owns and markets Sprite and Fanta.
Whereas PepsiCo Inc. owns and markets Mountain Dew, 7-Up, Gatorade and Tropicana, to name a few.
What is the Most Popular Soft Drinks Flavor?
Given their market share, it is not really surprising that during 2019, soft drinks with cola flavors had 55.8% of the global revenue share.
Although the development and release of diet-free and zero-calorie cola drinks will likely maintain popularity for the cola segment, the fruit-flavored carbonates segment is estimated to see one of the fastest boosts, with a CAGR (compound annual growth rate) of 6.3% between 2020 to 2027.
What does the Future Hold for the Cola Flavor Segment?
Ever since the development of carbonated soft drinks, things have changed. Many customers are now looking for healthier options.
Compared to other brands and fruit-flavored carbonates, colas have experienced declines and increased competition from other soft drinks market players.
However, it is unlikely, given PepsiCo Inc and the Coca-Cola Company’s market share in the global carbonated soft drinks market and in the beverages market in general, that they are not going to dominate.
What is the Most Popular Fruit Flavored Soft Drinks?
We thought we would take a moment to steer things away from all things cola and look at the fruit flavor carbonates that are most popular.
In the UK, Fanta appears to be more popular than Sprite or 7up, ranking at number 7 in a chart available through Statista for 2018.
However, in a post produced by Caffeine Informer, based on estimated brand value, Sprite and Mountain Dew were ranked higher than Fanta, Dr Pepper and 7-up.
Is the Global Carbonated Soft Drinks Market Growing or Shrinking?
In terms of the global carbonated soft drinks market, there has definitely been market growth.
Even with the Covid-19 pandemic, the soft drinks market remained buoyant with it estimated at being worth $994.7b during 2020, with it likely to reach $1.4 trillion, by 2027. That’s right, a trillion.
Need help from an experienced international food and beverage marketing agency? At Greenseed Group, we’ve got the expertise to help get your beverage in front of a larger market.
Contact Us today to see how we can help!