The global Carbonated Soft Drinks (CSDs) market was valued at USD 406.90 Billion in 2020 and is projected to reach USD 605.77 Million by 2028, growing at a CAGR of 5% from 2021 to 2028.
In current senario various soft drink manufacturers are following consumers demands for more flavor profiles and healthy choices. Carbonated soft drinks are sweet, non-alcoholic effervescent beverages.The industrial innovation is happening with customers for more premium soft drink beverages with interesting flavor combinations.
Theglobal Carbonated Soft Drinks (CSDs) marketwas valued at USD 406.90 Billion in 2020 and is projected to reach USD 605.77 Million by 2028, growing at a CAGR of 5% from 2021 to 2028.
The global Carbonated Soft Drinks (CSDs) market is segmented into product, application, regions, and countries. The regional segmentation covers current and forecasts demand on the basis of North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. All the segments are analyzed on the basis of current and future trends. The report covers a complete evaluation of the market based on competition, drivers, restraints, opportunities, trends, and industry-authenticated data. The market is estimated from 2016 to 2020 and forecast from 2021 to 2028.
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Outbreak of COVID-19 led various countries impose strict lockdown measures during the initial stages of the pandemic. Numerous companies from different verticals faced challenges due to remote work environments. As a result, companies from various sectors switched to online/virtual platforms to maintain a steady flow in their daily business activities. Impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends for all the regions and countries.
The report provides a completely separate chapter for COVID-19 Impact Analysis. This chapter includes:
o Impact Assessment of COVID-19 Pandemic
o Pre & Post COVID-19 Market Size
o Qualitative analysis on the short term & long term impact of COVID-19 on the market
o The analysis provides foremost strategies adopted by competitors to minimize the impact of the pandemic on their business activities and scope for future developments.
The increasing popularity in soda drinks among young generation age groups is playing a crucial role in expansion of the market during the estimated timeframe. Additionally, the growing consumer health awareness among consumers is also supporting the growth of the market.
The increasing technological advances is expected to support the growth of the market during the forecast period. Technology has become advanced and certainly played its part in growing consumption of carbonated beverages which comes in cans, glass bottles, plastic bottles,evolving packaging systems and high-speed packaging lines.
The increasing side effects of consuming carbonated soft drinks is expected to limit the growth of the market in the years to come.
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Product Analysis: Preview
On the basis of Product, the market is segmented into Soft Drinks,Carbonated Water, Sports & Energy Drinks, Others. Sports & Energy Drinks held the highest share in 2020 and is expected to grow at a significant rate over the forecast period. This is attributed to the rising demand for the Sports & Energy Drinks in developing countries such as China and India. Digitalization in Asia Pacific region has led to a surge in the usage of technology in various business processes over the past few years. Rising adoption of online platforms across various sectors along with analytical solutions, IoT, AI, and Blockchain technology to gain a competitive advantage is also paving the way for the Carbonated Soft Drinks (CSDs) market growth.
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