Soft Drink And Ice Global Market Report 2024

The soft drink and ice market size has grown strongly in recent years. It will grow from $446.2 billion in 2023 to $471.23 billion in 2024 at a compound annual growth rate (CAGR) of 5.6%. The growth observed during the historical period can be attributed to various factors, including consumer demand for refreshing beverages, the popularity of carbonated soft drinks (CSDs), the convenience of purchasing soft drinks from stores and vending machines, mass marketing and advertising campaigns, and consumer perceptions related to the sugar content in these beverages. These elements have played a significant role in shaping the soft drink and ice industry.

The soft drink and ice market size is expected to see strong growth in the next few years. It will grow to $573.45 billion in 2028 at a compound annual growth rate (CAGR) of 5.0%. Anticipated growth in the forecast period can be attributed to several factors, including the influence of health-conscious consumer preferences, a growing demand for natural and organic ingredients, an emphasis on sustainability and eco-friendly packaging, the popularity of flavored and functional beverages, and the rise of e-commerce and home delivery services within the soft drink and ice industry. Major trends expected in the forecast period include the development of craft and artisanal soft drinks, the introduction of alcoholic soft drinks, the creation of non-alcoholic cocktails, innovations in iced coffee and tea products, and the evolution of soda fountain and beverage stations.

The world's population is on the rise and is projected to reach 10 billion by 2050. This population growth translates into an increased demand for food. The American Society of Nutrition reports that Mexico had the highest consumption of sugar-sweetened beverages. To meet the needs of this expanding population, there will be a requirement for greater crop production, farming activities, and trade volumes. As a result, companies operating in this market are expected to benefit from the growing demand for food and beverage products driven by the increasing population during the forecast period.

The primary categories within the soft drink and ice industry encompass soft drinks and ice. Soft drinks are a popular non-alcoholic beverage, typically carbonated, and they include various flavors and ingredients. These beverages can be categorized as mass-produced or premium, and they are distributed through different channels, including off-trade channels (such as retail sales) and on-trade channels (such as sales in bars and restaurants).

The soft drinks and ice research report is one of a series of new reports that provides soft drinks and ice statistics, including soft drinks and ice industry global market size, regional shares, competitors with soft drinks and ice shares, detailed soft drinks and ice segments, market trends and opportunities, and any further data you may need to thrive in the soft drinks and ice industry. This soft drinks and ice research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The increasing popularity of energy drinks and sports drinks is anticipated to drive the growth of the soft drink and ice market. Energy and sports drinks are formulated to provide energy and hydration for individuals engaged in physical activities. The rising preference for these beverages has led to an increased demand for soft drinks and ice, as consumers often use them as mixers or enjoy them alongside their favorite soft drinks, contributing positively to the market. For example, in September 2022, the Food Institute, a U.S.-based food industry institution, projected that the U.S. energy drinks market would grow to a value of $21 billion by 2026. Therefore, the surging popularity of energy drinks and sports drinks is a driving force behind the soft drink and ice market.

The outbreak of COVID-19 had a substantial impact on the soft drink and ice manufacturing markets in 2020, with disruptions in supply chains due to trade restrictions and reduced consumption as a result of global lockdowns. COVID-19 is an infectious disease characterized by flu-like symptoms, including fever, cough, and breathing difficulties. It was initially identified in 2019 in Wuhan, China, and subsequently spread worldwide, affecting regions such as Western Europe, North America, and Asia. The food and beverage manufacturing sector heavily relies on the supply of raw materials from domestic and international sources. Government-imposed restrictions on the movement of goods, both domestically and internationally, led to manufacturing halts due to material shortages. Additionally, concerns over the trade of non-essential goods and potential contamination in manufacturing facilities further exacerbated the decline in production. While the outbreak had adverse effects on businesses throughout 2020 and into 2021, it is expected that the soft drink and ice manufacturing market will rebound from this shock over the forecast period, considering it as a 'black swan' event unrelated to ongoing or fundamental market weaknesses or global economic issues.

To establish a brand image and differentiate themselves, bottled water manufacturers are introducing innovative packaging solutions. Novel packaging may include resealable and recyclable materials, sophisticated transparent bottles, as well as specialized inks and coatings applied to cans to enhance their visual appeal. An example of this is Cano, a resealable and recyclable aluminum water bottle launched by British entrepreneurs, aimed at addressing pollution caused by plastic water bottles. The Paper Water Bottle Company introduced the Paper Water Bottle Eco-1, a compostable water bottle made from molded fiber.

Major companies operating in the soft drink and ice market are placing a strong emphasis on new product innovations, such as Campa Cola, to leverage the nostalgia factor and expand their beverage portfolio. Campa Cola, an iconic soft drink brand in India known for its unique taste and memorable advertising campaigns, has been relaunched by Reliance Industries Limited in March 2023. This revival, occurring almost 23 years after its discontinuation in India, includes the introduction of three flavors such as Campa Cola, Campa Lemon, and Campa Orange in the sparkling beverage category. The range of pack sizes will cater to various consumer needs, from 200ml immediate consumption packs to 500ml and 600ml on-the-go sharing packs, and larger 1,000ml and 2,000ml home packs.

Major companies operating in the soft drink and ice market include PepsiCo Inc., The Coca-Cola Company, Coca-Cola European Partners PLC, Fomento Económico Mexicano, S.A.B. de C.V., Red Bull GmbH, Nestle S.A., Keurig Dr Pepper Inc., Asahi Group Holdings Ltd., Danone S.A., Suntory Holdings Limited, Hamoud Boualem, National Beverage Corp., Seaman's Beverages, Hawaiian Punch, Hires Root Beer, IBC Root Beer, Orangina, RC Cola, Ricqlès, Jones Soda, Keurig Dr Pepper, Niagara Bottling LLC, Novamex, Pascual Boing, Primo Water Corporation, Reed's, A.G. Barr PLC, Drinko, Murree Brewery, Bickford's Australia Pty. Ltd.

Asia-Pacific was the largest region in the soft drink and ice market in 2023. Western Europe was the second-largest region in the soft drink and ice market. The regions covered in the soft drink and ice market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the soft drink and ice market report are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa

The soft drinks and ice market consists of sales of carbonated soft drinks, ice flakes, ice cubes, ice nuggets, bottled water, Ready to Drink (RTD) tea and coffee, juices and juice concentrates, functional drinks, and other soft drinks and ice. The companies in the soft drink and ice industry process raw materials into soft drinks, ice, and purified and bottled water, package and distribute them through various distribution channels to both individual customers and commercial establishments. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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