Global Carbonated Beverages Market Size, Share, and COVID-19 Impact Analysis, By Product (Carbonated Soft Drinks, Carbonated Water, Carbonated Sports & Energy Drinks, Others), By Distribution Channel (Hypermarkets & Supermarkets, Convenience Stores, Food Service Outlets, Transport Terminals, Online Stores & D2C), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 - 2033

Global Carbonated Beverages Market Insights Forecasts to 2033

• The Global Carbonated Beverages Market Size Was Estimated at USD 576.3 Million in 2023
• The Market Size is Expected to Grow at a CAGR of around 6.37% from 2023 to 2033
• The Worldwide Carbonated Beverages Market Size is Expected to Reach USD 1068.2 Million by 2033
• Asia Pacific is Expected to Grow the fastest during the Forecast period.

The Global Carbonated Beverages Market size was worth around USD 576.3 Million in 2023 and is predicted to grow to around USD 1068.2 Million by 2033 with a compound annual growth rate (CAGR) of 6.37% between 2023 and 2033. The market for carbonated drinks is fueled by rising consumer demand for ready-to-drink, convenient products, urbanization, new flavor offerings, aggressive marketing by leading brands, and increasing retail channels. The increasing youth population and lifestyle changes towards on-the-go consumption also drive market growth.

Market Overview

The market for carbonated drinks is the sector that manufactures and markets carbonated drinks, fizzy drinks, or soda. Carbonated drinks are beverages to which carbon dioxide gas has been added, which produces effervescence and provides them with a bubbly or fizzy feel. The variety of flavors and competitive prices are key factors that drive the demand for carbonated drinks among consumers. Carbonated drinks are processed with clean water, and flavor ingredients to determine the taste profile, sugar, or any other sweetening agents, colorants, and preservatives included to increase their shelf life. The application of changing technology to package carbonated drinks in glass bottles, tin cans, and plastic bottles, as well as the introduction of high-speed package lines, has contributed to increasing the consumption of carbonated drinks among consumers. The intake of carbonated drinks has also been increased due to the compatibility of bubbly drinks with some food. Carbonated drinks are generally complemented by mirroring or contrasting the flavor of the snack. The increased intake of such food items has also promoted the intake of carbonated drinks.

Report Coverage

This research report categorizes the carbonated beverages market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the carbonated beverages market. Recent market developments and competitive strategies such as expansion, type launch, development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the carbonated beverages market.

Driving Factors

Consumers want ready-to-drink drinks for easy, on-the-go consumption. Packaged carbonated drinks are convenient, driving market expansion as lifestyles get busier.  Wellness trends drive the expansion of low-calorie, sugar-free, or functional carbonated drinks, like sparkling water and probiotic beverages. These products resonate with consumers interested in wellness and healthier options. Additionally, brands continuously launch new and varied flavors, appealing to consumers looking for variety and novelty. This innovation, such as the introduction of healthier choices, maintains the market active and attractive to various tastes further propelling its demand.

Restraining Factors

Increasing health awareness about diseases such as obesity, diabetes, and dental caries has encouraged consumers to eschew high-carbohydrate content carbonated drinks. The demand for healthy alternatives like natural juice and water is limiting traditional soda demand, causing companies to remake or broaden product lines. Furthermore, the market for carbonated drinks is fiercely competitive with brand leaders taking dominance and several new players entering. This saturation hinders the ability of smaller brands to capture market share without huge investment in innovation and marketing. It also quashes the growth potential for traditional carbonated beverages, especially in mature markets.

Market Segmentation

The carbonated beverages market share is classified into product and distribution channels.

• The carbonated soft drinks segment dominated the market in 2023 and is projected to grow at a substantial CAGR during the forecast period.

Based on the product, the carbonated beverages market is divided into carbonated soft drinks, carbonated water, carbonated sports & energy drinks, and others. Among these, the carbonated soft drinks segment dominated the market in 2023 and is projected to grow at a substantial CAGR during the forecast period. The growth is attributed to soft drinks are usually chosen for their refreshing flavor, range of flavors, and familiarity. Carbonated soft drinks, such as cola, lemon-lime, and other flavored sodas, are the most popular carbonated drinks in the world. They have been a mainstay in the beverage sector for a long time and still reign supreme due to strong brand identification and loyal consumer bases.

• The hypermarkets & supermarkets segment accounted for a significant share in 2023 and is anticipated to grow at a remarkable CAGR during the forecast period.

Based on the distribution channel, the carbonated beverages market is divided into hypermarkets & supermarkets, convenience stores, food service outlets, transport terminals, online stores & d2c. Among these, the hypermarkets & supermarkets segment accounted for a significant share in 2023 and is anticipated to grow at a remarkable CAGR during the forecast period. The segmental growth is due to retail outlets offering a wide variety of carbonated drinks, ranging from various brands, flavors, and package sizes. Such diversity enables customers to select according to taste, and this stimulates higher volumes of sales. Hypermarkets and supermarkets usually provide competitive prices, offers, and promotions for carbonated drinks, thus making them appealing to price-conscious customers.

Regional Segment Analysis of the Carbonated Beverages Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

North America is anticipated to hold the largest share of the carbonated beverages market over the predicted timeframe.

North America is anticipated to hold the largest share of the carbonated beverages market over the predicted timeframe. The region has a long history of high consumption of carbonated beverages, especially soft drinks. Major brands like Coca-Cola, Pepsi, and Dr. Pepper hold large market shares due to strong brand recall, developed consumer preference, and enormous distribution channels. Moreover, North American consumers put huge value on convenience and indulgence, and hence retain their liking for carbonated drinks. The presence of a large number of products and continuous product developments also add to the market's leadership in the region.

Asia Pacific is expected to grow at a rapid CAGR in the carbonated beverages market during the forecast period. As incomes become disposable, consumers are moving towards convenience foods and beverages, such as carbonated beverages. Younger adults in nations like China and India are becoming more and more Westernized in their diet and lifestyle, and are boosting demand for soda and energy drinks. Regional tastes are also changing, as increasing demand for new flavors, healthier options, and value brands is being witnessed.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the carbonated beverages market along with a comparative evaluation primarily based on their type of offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes type development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• National Beverage Corp.
• ANADOLU GRUBU A.Åž.
• SUNTORY BEVERAGE & FOOD LIMITED
• SODASTREAM INTERNATIONAL LTD
• Danone S.A.
• PepsiCo
• The Coca-Cola Company
• Keurig Dr Pepper Inc.
• JONES SODA CO.
• Monster Energy Company
• Refresco Group.
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs) 

Recent Development

• In March 2025, PepsiCo acquired Poppi, a brand of prebiotic soda. This strategic move aims to strengthen PepsiCo's position in the health-focused beverage category, as consumers increasingly seek functional beverages that promote gastrointestinal well-being.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the carbonated beverages market based on the below-mentioned segments: 

Global Carbonated Beverages Market, By Product

• Carbonated Soft Drinks
• Carbonated Water
• Carbonated Sports & Energy Drinks
• Others

Global Carbonated Beverages Market, By Distribution Channel

• Hypermarkets & Supermarkets
• Convenience Stores
• Food Service Outlets
• Transport Terminals
• Online Stores & D2C

Global Carbonated Beverages Market, By Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa