North America Carbonated Soft Drinks Market

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; it is estimated to register a CAGR of 5.5% from 2023 to 2031.

Rising Consumption of Carbonated Soft Drinks Among the Millennial and Gen Z Population Fuels North America Carbonated Soft Drinks Market

According to the World Economic Forum, there are 1.8 billion millennials around the world, equal to 23% of the global population. These younger demographics have embraced carbonated soft drinks not just as a refreshment but also as a lifestyle choice and a means of socializing. The variety of flavors and options, from classic sodas to innovative flavored variants, offered by beverage companies, catering to the diverse tastes of millennials and Gen Z, is a major factor driving demand for carbonated soft drinks. Moreover, the rise of social media has played a crucial role in fueling the popularity of carbonated soft drinks among these demographics. Further, brands increasingly leverage social media platforms such as Instagram and TikTok to showcase their products in creative and engaging ways, effectively reaching and resonating with younger consumers who are highly active on these platforms. For instance, in February 2024, The Coca‑Cola Company launched Happy Tears Zero Sugar, a limited-edition beverage available solely through TikTok's emerging e-commerce platform, TikTok Shop. This approach fosters a sense of connection and community, driving engagement and loyalty among millennials and Gen Z. The creative and sharable content associated with these launches sparks conversations and drives word-of-mouth promotion, further fueling the demand for carbonated soft drinks.

Carbonated soft drinks are also readily available in supermarkets, convenience stores, and vending machines, making them easily accessible to millennials and Gen Z, who value convenience in their fast-paced lifestyles. Through a combination of flavor innovation, social media influence, convenience, and cultural resonance, these fizzy beverages have cemented their status as staples in the lives of today’s younger generations, driving the market to new heights of growth.

North America Carbonated Soft Drinks Market Overview

North America is one of the largest markets globally, with the US and Canada leading in consumption rates. Carbonated soft drinks are readily available in various formats, including bottles, cans, and fountain drinks, making them easily accessible for consumers on the go. North America encompasses a wide range of iconic brands such as Coca-Cola Company, PepsiCo, Keurig Dr Pepper, Refresco, and National Beverage Corporation and flavors, catering to diverse consumer preferences. Additionally, the variety of flavors and brands appeals to diverse consumer preferences, contributing to sustained demand.

Carbonated soft drinks often serve as affordable indulgences or treats for consumers, providing a refreshing and enjoyable beverage option, particularly during social gatherings or meals. This affordability factor makes them popular choices among consumers of all demographics, including families, teenagers, and young adults. Furthermore, aggressive marketing and promotional strategies by major beverage companies help maintain and even increase demand for carbonated soft drinks.

These companies are heavily investing in advertising campaigns, sponsorships, and endorsements to keep their brands top-of-mind and drive consumer engagement. Furthermore, the growing popularity of outdoor dining in North America presents a significant opportunity for the carbonated soft drinks market. As the region experiences continuous growth in restaurants, cafes, fast-food chains, and other food service establishments, the demand for beverages to accompany meals is also on the rise. According to the National Restaurant Association, the US's food service industry is forecast to reach US$ 1 trillion in sales in 2024. Additionally, 52% of consumers—including 67% of millennials and 63% of Gen Z adults—prefer ordering takeout from a restaurant as an essential part of their lifestyle, further showing restaurants' profound impact on consumers' lives. Carbonated soft drinks, with their versatility, variety of flavors, and widespread appeal, are well-positioned to capitalize on this trend.

North America Carbonated Soft Drinks Market Revenue and Forecast to 2031 (US$ Million)

North America Carbonated Soft Drinks Strategic Insights

Strategic insights for the North America Carbonated Soft Drinks provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

North America Carbonated Soft Drinks Report Scope

North America Carbonated Soft Drinks Regional Insights

The geographic scope of the North America Carbonated Soft Drinks refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.

North America Carbonated Soft Drinks Market Segmentation 

The North America carbonated soft drinks market is categorized into flavor type, category, packaging type, end user, and country.

Based on flavor type, the North America carbonated soft drinks market is segmented into cola, orange, lemonade, ginger, and others. The cola segment held the largest North America carbonated soft drinks market share in 2023.

In terms of category, the North America carbonated soft drinks market is bifurcated into sugar-free and conventional. The conventional segment held a larger North America carbonated soft drinks market share in 2023.

By packaging type, the North America carbonated soft drinks market is bifurcated into bottles and cans. The bottles segment held a larger North America carbonated soft drinks market share in 2023.

Based on end user, the North America carbonated soft drinks market is categorized into on-trade and off-trade. The on-trade segment held a larger North America carbonated soft drinks market share in 2023.

Based on country, the North America carbonated soft drinks market is categorized into the US, Canada, and Mexico. The US dominated the North America carbonated soft drinks market share in 2023.

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 are some of the leading companies operating in the North America carbonated soft drinks market.