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Soft Drink And Ice Market Report 2024 - Soft Drink Market Size, Share, Growth And Forecast
Soft Drink And Ice Market
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According to The Business Research Company's, 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 in the historic period can be attributed to consumer demand for refreshing beverages, carbonated soft drinks (csds), convenience stores and vending machines, mass marketing and advertising, consumer perception of sugar content.
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%. The growth in the forecast period can be attributed to health-conscious consumer preferences, natural and organic ingredients, sustainability and eco-friendly packaging, flavored and functional beverages, e-commerce and home delivery. Major trends in the forecast period include craft and artisanal soft drinks, alcoholic soft drinks, non-alcoholic cocktails, iced coffee and tea innovations, soda fountain and beverage stations.
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Market Drivers and Trends:
The world's population is growing and is expected to reach 10 billion by 2050. An increase in the population creates more demand for food. According to the American Society of Nutrition, the consumption of sugar-sweetened beverages was highest in Mexico. Crop production, farming activities, and trade volumes will have to increase in order to meet the increased population. Therefore, companies in this market are expected to benefit from rising demand for food and beverage products due to the rising population during the forecast period.
To establish brand image and differentiation, bottled water manufacturers are introducing novel packaging. Novelty packaging may include re-sealable and recyclable packaging material, transparent sophisticated bottles, inks, and coatings applied to cans to enhance shelf appeal. For instance, British entrepreneurs launched Cano, a re-sealable and recyclable aluminum water that can aim at controlling pollution from plastic water bottles. Also, the Paper Water Bottle Company launched the Paper Water Bottle Eco-1, a compostable water bottle made of moulded fiber.
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• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
Major Key Players of the Market:
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.
Soft Drink And Ice Market 2024 Key Insights:
• 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%.
• Growing Demand In The Soft Drink Due To Surge In Population
• Innovative Packaging For Softdrinks
• Asia-Pacific was the largest region in the soft drink and ice market in 2023
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