Sugar Free Carbonated Drinks Market
Health consciousness and demand for low-calorie alternatives drive market growth at a CAGR of 7.3%.
— Allied Market Research
WILMINGTON,NEW CASTLE, DELAWARE, UNITED STATES, June 20, 2024 /EINPresswire.com/ — According to a new report published by Allied Market Research, titled, “Sugar Free Carbonated Drinks Market By Type, Flavor, and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2021–2030,” the global sugar free carbonated drinks market size is expected to reach $243.5 billion by 2030 at a CAGR of 7.3% from 2021 to 2030.
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The global sugar-free carbonated drinks market is experiencing growth driven by factors such as increased health consciousness, a rise in awareness about the adverse effects of sugar, and the desire for low-calorie alternatives. The market benefits from the demand for healthier beverage options, particularly in response to concerns related to obesity and high blood sugar levels. Sugar substitutes like aspartame, saccharin, and acesulfame K are utilized to sweeten these drinks. Despite challenges such as raw material price fluctuations and health-related concerns associated with carbonated drinks, the market is sustained by the growth of restaurant chains, food delivery services, and the overall popularity of fast food.
Sugar free carbonated drinks are low calorie or no calorie carbon infused drinks with added natural/artificial flavors, coloring, preservatives, and other ingredients. Aspartame, Saccharin, Acesulfame K are some of the sugar substitutes used as sweetener in sugar free carbonated drinks. The rise in prevalence of obesity and high blood sugar levels among the population boost the demand for sugar free carbonated drinks. Regular carbonated drinks contain sugar that is harmful for health thus people shift toward sugar free substitute of carbonated drinks. According to a study by the Global Burden of Disease, around 4.72 million people died prematurely due to obesity and around 6.53 people died due to high blood sugar in 2017. Higher consumption of added sugar may lead to obesity that again results in various health risks such as heart disease, diabetes, high blood pressure, and certain cancers. These factors are responsible for rise in health consciousness among the population.
Moreover, surge in health awareness among the global population boosts the demand for sugar free substitutes of carbonated drinks. These factors propel the growth of the sugar free carbonated drinks market during the forecast period. The desire to look fit and active among the consumers is a key factor fueling the demand for sugar free carbonated drinks in the market.
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Health Awareness: Growing awareness of health issues related to sugar consumption, including obesity and high blood sugar, is driving the demand for sugar-free carbonated drinks.
Fast Food Consumption: The growth and development of fast food chains contribute significantly to the consumption of sugar-free carbonated drinks as part of meal plans offered by popular chains.
Desire for Fitness: The desire to maintain a fit and active lifestyle is a key factor boosting the demand for sugar-free carbonated drinks.
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Material Prices: Fluctuations in raw material prices pose a challenge to the sugar-free carbonated drinks market.
Health Risks: Concerns about health risks associated with carbonated drinks, leading to a decline in overall consumption, particularly in mature markets.
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– Type: Soft drinks, energy drinks, sports drinks, carbonated water.
– Flavor: Cola, lime, orange, lemonade, others.
– Distribution Channel: Hypermarkets, supermarkets, convenience stores, independent retailers, others.
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– North America: Dominated the market in 2020, with around 34.6% market share, followed by Europe.
– Asia-Pacific: Expected to show promising growth due to increased penetration of fast food chains, rising disposable income, and growing awareness.
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Soft Drinks Segment: Accounted for the highest contribution in 2020, with $48 billion, expected to maintain significance during the forecast period.
Cola Flavor Dominance: The cola segment held around 54% market share in 2020, driven by aggressive marketing campaigns by major players.
Distribution Channels: The “other” segment, including the food service industry, fast food chains, and online sales channels, dominates and is the fastest-growing segment.
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Major players include Arizona Beverage Company, Ltd., Asahi Group Holdings, Ltd., Bisleri International, Jones Soda Co., Keurig Dr Pepper, Inc., Kofola CeskoSlovensko A.S., PepsiCo, Inc., Refresco Group B.V., Suntory Group, and The Coca-Cola Company.
The sugar-free carbonated drinks market is propelled by the global shift towards healthier beverage options and increased awareness of the negative effects of sugar consumption. Despite challenges, the market remains resilient due to the popularity of fast food, aggressive marketing campaigns, and the continuous demand for low-calorie alternatives. North America and Europe lead the market, but Asia-Pacific is anticipated to exhibit significant growth. Players in the market are adopting strategies to enhance market share and profitability.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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