The global Non-Carbonated Soft Drinks Market size was estimated to reach USD 208.51 Billion by 2028 and is anticipated to expand at a CAGR of 6.9% from 2022 to 2028. The growing soft drinks industry and the rising per capita consumption of these products are expected to promote market growth.
The increasing popularity and demand for sugar-free non-carbonated soft drinks products across the developed economies have led to significant growth in the industry. In addition to this, the rising demand and consumption of nutritious non-carbonated soft drinks products owing to health consciousness among the consumer are expected to drive the market growth. In addition to this, the increasing demand for natural and chemical-free soft drinks and Ready-to-Drink (RTD) are expected to accelerate the market growth.
Moreover, a lockdown situation has been observed during the COVID 19 pandemic, and it showed a slight impact on the non-carbonated soft drinks market due to the suspended or delayed supply of raw material products. However, it significantly impacts the supply chain of the soft drinks market. Moreover, the increasing demand for nutrition-oriented products in the post-pandemic times will create opportunities for the market players.
Sparkling & flavored water segment is forecast to expand at a higher CAGR of 9.7% from 2022 to 2028. The rising consumption of low carbohydrates and low sugar soft drinks will accelerate consumers to prefer sparkling & flavored water over any other drinks. Additionally, the growing middle-class population coupled with increasing disposable income and urbanization across the globe are anticipating market growth. Moreover, the rising trend of e-commerce is expected to accelerate this segment demand over the next couple of years.
Online distribution channel is forecast to expand at a higher CAGR of 8.8% from 2022 to 2028. Consumers are more inclined toward online shopping and mobile apps for shopping are getting popular due to their simplicity and convenience. Consumers are inkling towards online channels as beverage products are available at economic rates via online channels compared to offline coupled with door step delivery of the product. It is also observed that companies, distributors, and retailers are adopting the online platform to sell their products.
Asia Pacific contributed the largest market share of over 30% in 2021 and is forecast to expand at a CAGR of 6.0% from 2022 to 2028. Countries such as China, and India are positively contributing to the market revenue. Increasing production of coffee, tea, and huge consumption by the growing population are propelling the market growth. The increasing popularity and demand for non-carbonated soft drinks products are propelling the growth of the market. Moreover, the rising consumer's preference for value-added natural ingredients products are the major factor driving the market growth.
Non-Carbonated Soft Drinks Market Report Highlights