At 5.5% CAGR, North America Carbonated Soft Drinks Market is Projected to be Worth US$ 1,59,228.03 Million by 2031, says Business Market Insights

According to Business Market Insights' research, the North America carbonated soft drinks market was valued at US$ 1,03,593.73 million in 2023 and is expected to reach US$ 1,59,228.03 million by 2031, registering a CAGR of 5.5% from 2023 to 2031. Rising demand for premium carbonated soft drinks and increasing preference for sugar-free and zero-calorie carbonated soft drinks are among the critical factors attributed to drive the North America carbonated soft drinks market growth.

Consumers increasingly seek high-quality beverages with unique flavors, natural ingredients, and innovative packaging. This shift in consumer preferences is being driven by various factors, including changing lifestyles, increasing disposable incomes, and a growing emphasis on health and wellness. Premium carbonated soft drinks appeal to consumers seeking indulgent yet sophisticated beverage options. These drinks often feature exotic flavors, such as elderflower or ginger, and use natural sweeteners, such as cane sugar or stevia, instead of artificial additives. The emphasis on natural ingredients and fewer artificial additives resonates with health-conscious consumers who are mindful of what they consume.

Premium carbonated soft drinks are often packaged in sleek and eye-catching bottles or cans, adding to their appeal. The packaging design plays a crucial role in attracting consumers and conveying the premium nature of the product. Brands invest in packaging innovations to differentiate their products and create a memorable brand experience for consumers. As a result of these trends, the demand for premium carbonated soft drinks is expected to continue rising, driving overall market growth. Manufacturers are responding to this demand by introducing new product lines and expanding their portfolio of premium offerings. Additionally, marketing efforts highlight the unique features and benefits of premium carbonated soft drinks to target consumers effectively. Thus, the growing demand for premium carbonated soft drinks reflects evolving consumer preference for high-quality, indulgent beverages. This trend is expected to fuel market growth as manufacturers innovate to meet the demand for unique flavors, natural ingredients, and premium packaging.

On the contrary, negative effects of carbonated soft drinks on health hamper the growth of North America carbonated soft drinks market.

Based on flavor type, the North America carbonated soft drinks market is segmented into cola, orange, lemonade, ginger, and others. The cola segment held 49.1% market share in 2023, amassing US$ 50.88 billion. It is projected to garner US$ 84.57 billion by 2031 to register 6.6% CAGR during 2023-2031.

In terms of category, the North America carbonated soft drinks market is bifurcated into sugar-free and conventional. The conventional segment held 74.9% share of North America carbonated soft drinks market in 2023, amassing US$ 77.59 billion. It is anticipated to garner US$ 115.55 billion by 2031 to expand at 5.1% CAGR during 2023-2031.

By packaging type, the North America carbonated soft drinks market is bifurcated into bottles and cans. The bottles segment held 70.5% share of North America carbonated soft drinks market in 2023, amassing US$ 73.00 billion. It is projected to garner US$ 106.81 billion by 2031 to expand at 4.9% CAGR from 2023 to 2031.

Based on end user, the North America carbonated soft drinks market is bifurcated into on-trade and off-trade. The on-trade segment held 53.8% share of North America carbonated soft drinks market in 2023, amassing US$ 55.75 billion. It is predicted to garner US$ 80.84 billion by 2031 to expand at 4.8% CAGR between 2023 and 2031.

Based on country, the North America carbonated soft drinks market is categorized into the US, Canada, and Mexico. Our regional analysis states that the US captured 72.0% share of North America carbonated soft drinks market in 2023. It was assessed at US$ 74.62 billion in 2023 and is likely to hit US$ 118.42 billion by 2031, registering a CAGR of 5.9% during 2023-2031.

Key players operating in the North America carbonated soft drinks market are The Coca-Cola Co, PepsiCo Inc, Red Bull, Fevertree Drinks Plc, Monster Beverage Corp, Britvic Plc, Keurig Dr Pepper Inc, Refresco Group, and Asahi Group Holdings Ltd, among others.

• In October 2023, Refresco Group invested USD 30.5 million to expand its production facility in Joplin, U.S. This helped the company to strengthen its supply chain resulting in lower production costs and efficient production cycle.
• In April 2023, Fever-Tree introduced a limited-edition summer tonic water, featuring passionfruit and lime flavors. The water is free from artificial flavors and sweeteners, with 18 calories per 100ml, and can be paired with gin, vodka, or ice.

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