The Global Sparkling Drinks Market reached USD 39.0 billion in 2022 and is projected to witness lucrative growth by reaching up to USD 65.5 billion by 2030. The market is growing at a CAGR of 6.7% during the forecast period 2023-2030. The rising popularity of functional beverages, such as sparkling water infused with vitamins, minerals, and natural flavors, is driving the growth of the sparkling drinks market.
Increasing consumer demand for refreshing and carbonated beverages is driving the growth of the global sparkling drinks market. Consumers are seeking beverages that provide a fizzy sensation and a unique flavor experience. The increasing availability of sparkling drinks in convenient packaging formats, such as cans and bottles, is boosting their consumption on the go. This convenience factor is expected to drive market growth, especially in urban areas.
Consumers are increasingly looking for beverages that offer health benefits along with a refreshing taste. The introduction of sparkling drinks with natural and organic ingredients is gaining traction among environmentally conscious consumers. These beverages are perceived as healthier and more sustainable options, driving market growth.
|Size Available for Years||2021-2030|
|Data Availability||Value (US$)|
|Segments Covered||By Product Type, By Distribution Channel|
|Regions Covered||North America, Europe, Asia-Pacific, South America, and Middle East & Africa|
|Fastest Growing Region||Asia-Pacific|
|Largest Region||North America|
|Report Insights Covered||Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, Porter’s Analysis, Pricing Analysis, Regulatory Analysis, Supply-Chain Analysis, and Other key Insights.|
Increasing Consumer Awareness of Health and Wellness Drives the Market Growth
The increasing consumer awareness of health and wellness is a significant impact on driving the global sparkling drinks market. Consumers are becoming more conscious of their dietary choices and are seeking healthier alternatives to traditional carbonated beverages. This shift in consumer preferences is creating a market demand for sparkling drinks that is offering low and zero sugar content, natural ingredients, and functional benefits.
As a result, beverage companies are responding to this demand by introducing healthier options in the sparkling drinks market. For instance, on March 9, 2023, Reliance Consumer Products Limited (RCPL), the FMCG arm and wholly-owned subsidiary of Reliance Retail Ventures Limited (RRVL), introduced the renowned beverage brand, Campa, to the market. The initial product lineup for Campa comprises sparkling beverages, including Campa Cola, Campa Lemon, and Campa Orange.
The Increasing Demand for Healthier and Functional Beverages Drives the Market Growth
As consumers are becoming more health-conscious and are seeking beverages that offer both refreshment and functional benefits, the market for healthier and functional sparkling drinks is experiencing notable growth. Healthier beverage options, including low or zero-sugar sparkling drinks, sparkling water, and functional beverages, are gaining popularity among consumers. This shift in consumer preferences is driven by a desire to reduce sugar intake, make healthier choices, and maintain an overall balanced lifestyle.
To meet this increasing demand for healthier and more functional options, beverage companies are innovating and introducing new products in the market. For instance, on September 14, 2022, Suntory Beverage & Food GB&I (SBF GB&I) introduced the Ribena Sparkling range, which includes the highly anticipated addition of Ribena Sparkling Zero Sugar. This new launch introduces a refreshing and sugar-free option to the Ribena Sparkling lineup.
The High Sugar Content in Traditional Sparkling Drinks Hamper the Market Growth
Increased awareness of the negative health effects associated with high sugar consumption is leading to changing consumer preferences. Many consumers are actively seeking healthier beverage options that have reduced sugar content and are sugar-free. This shift in consumer preferences away from high-sugar beverages directly is affecting the demand for traditional sparkling drinks, which further restrains market growth.
The availability of a wide range of healthier beverage options, including flavored water, natural fruit juices, herbal teas, and functional drinks, is intensifying the competition for market share within the beverage industry. These alternatives are offering consumers the choice to quench their thirst and are meeting their taste preferences without the excessive sugar content found in traditional carbonated soft drinks. The increased availability and promotion of healthier alternatives are acting as a restraint on the demand for the high-sugar sparkling drinks market.
The global sparkling drinks market is segmented based on product type, distribution channel, and region.
Consumers are Increasingly Seeking Healthier Beverage Options
The juice segment holds the largest share of the global sparkling drinks market. Consumers are increasingly seeking healthier beverage options, including sparkling drinks. The juice segment is often perceived as a healthier choice compared to carbonated soft drinks due to its natural fruit content and associated vitamins and minerals. As consumer awareness about health and wellness grows, the demand for sparkling juice drinks is increasing, leading to a larger market share for this segment in the global sparkling drinks market.
Beverage companies are introducing innovative juice-based sparkling drinks that combine the natural goodness of fruit juice with the effervescence of carbonation. For instance, on June 13, 2023, Splash Beverage Group, Inc., a prominent company specializing in beverage brands, introduced TapouT Cognitive Energy, an exciting new sparkling beverage with only 10 calories. This invigorating drink comes in three distinct flavors: Cherry Lemonade, Orange, and Peach Mango.
Increasing Established Consumer Base and Diverse Product Offerings
The North America region is dominating the global sparkling drinks market with the highest share. North America, particularly the United States, has a well-established and mature market for sparkling drinks. Carbonated soft drinks have long been popular in the region, and consumers have a strong affinity for fizzy and flavored beverages. This established consumer base is providing a solid foundation for the growth and dominance of the sparkling drinks market in North America.
The North American market is offering a wide range of sparkling drinks, including carbonated soft drinks, flavored water, energy drinks, and other sparkling beverages. For instance, on April 18, 2023, Coca-Cola introduced Topo Chico Sabores, a range of premium sparkling waters that blend fruit juice and herbal extracts, offering consumers a unique non-alcoholic category and an elevated drinking experience. With Topo Chico Sabores, Coca-Cola expands the fast-growing beverage market by providing a selection of high-quality sparkling waters infused with refreshing fruit flavors and natural extracts.
The major global sparkling drinks market players include Pepsico, Inc., Welch Foods Inc., Ocean Spray, Waterloo Sparkling Drinks Corporation, Sapporo Group, Seven Sparkling Drinks, LaCroix Beverages, Inc., Nestle S.A, Hint Inc. and The Coca-Cola Company.
The pandemic has disrupted global supply chains, leading to challenges in sourcing raw materials, packaging materials, and ingredients for sparkling drinks. Lockdown measures, travel restrictions, and temporary closures of manufacturing facilities have caused delays in production and distribution, impacting the availability of sparkling drinks in the market.
However, the pandemic has further emphasized the importance of health and wellness among consumers. This has led to a heightened focus on healthier choices and functional beverages. Sparkling drinks with low sugar content, natural ingredients, and functional benefits have gained more attention, while traditional carbonated soft drinks with higher sugar content have faced greater scrutiny.
Artificial Intelligence Impact Analysis
Artificial Intelligence (AI) powered analytics and machine learning algorithms can analyze large volumes of data to provide valuable market research insights. By collecting and analyzing data from various sources such as social media, consumer feedback, and sales data, AI can help beverage companies understand consumer preferences, trends, and demands more effectively. This information can guide product development, marketing strategies, and personalized targeting, ultimately driving market growth.
AI can play a crucial role in product development and formulation within the sparkling drinks market. Machine learning algorithms can analyze consumer preferences, ingredient interactions, and sensory data to identify new flavor combinations, improve formulations, and optimize taste profiles. AI can help beverage companies develop innovative and appealing products, leading to increased consumer satisfaction and market competitiveness.
By Product Type
By Distribution Channel
Why Purchase the Report?
The global sparkling drinks market report would provide approximately 53 tables, 48 figures, and 101 Pages.
Target Audience 2023