Sugar-free soft drink market expected to reach $ 243.5 billion by 2030 – Allied Market Research

Sugar-Free Soft Drink Market

PORTLAND, OR, USA, Oct 7, 2021 /EINPresswire.com/ – The growth of the restaurant industry, rapid urbanization, increasing disposable income, growing health awareness and Easy availability of sugar-free carbonated drinks are the key factors that are propelling the growth of sugar-free carbonated drinks. The reduced prices offered in a packaged sugar-free soft drink in supermarkets / hypermarkets have aggressively increased consumption in European and North American markets. Independent retailers and convenience stores account for a larger market share in the Asia-Pacific and LAMEA markets due to the huge rural population in these regions

According to a new report released by Allied Market Research titled “Sugar-Free Carbonated Beverages Market by Type, Flavor and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2021-2030,” the Global Beverage Market Size Sugar-free carbonated drinks is expected to reach $ 243.5 billion by 2030 at a CAGR of 7.3% from 2021 to 2030.

Carbonated soft drinks are low calorie or zero calorie carbon infused drinks with added natural / artificial flavors, colors, preservatives and other ingredients. Aspartame, saccharin, acesulfame K are some of the sugar substitutes used as a sweetener in soft drinks without sugar. The increasing prevalence of obesity and hyperglycemia in the population is driving the demand for sugar-free carbonated drinks. Regular soft drinks contain unhealthy sugar, so people are turning to a sugar-free substitute for soft drinks. According to a study from the Global Burden of Disease, around 4.72 million people died prematurely from obesity and around 6.53 people died from hyperglycemia in 2017. Higher consumption of added sugar may lead to obesity which again leads to various health risks such as like heart disease, diabetes, high blood pressure and some cancers. These factors are responsible for increasing the awareness of health among the population. In addition, increasing health awareness among the global population is driving the demand for sugar-free alternatives to soft drinks.

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The growth and development of restaurant chains, cloud kitchens, food delivery services, quick service restaurants and fast food chains are driving the growth of the sugar-free carbonated drink market. Fast food chains such as KFC, Pizza Hut, Domino’s, YUM Brands, and Burger King mostly include a soft drink in their affordable meal plan. This has resulted in an increase in the consumption of sugar-free carbonated drinks across the world. According to data released by the Centers for Disease Control and Prevention (CDC), about 36.6% of adults in the United States regularly consume fast food. Hence, the increase in the consumption of fast food in popular fast food chains is exponentially contributing to the growth of the sugar-free soft drink industry.

However, the market for sugar-free carbonated drinks faces some hurdles. These include rising raw material prices, declining consumption of carbon infused beverages, and seasonality which is hampering market growth. There are certain health risks associated with consuming carbon infused drinks. Hence, there has been a decrease in the overall consumption of carbonated drinks in recent years in mature markets like North America and Europe, hampering the growth of the sugar-free carbonated drink market.

Based on flavor, the cola segment held around 54% market share in 2020 due to the immense popularity of cola flavor. The Cola flavor has been popularized by the aggressive marketing campaigns of The Coca-Cola Company, the market leader in soft drinks, over the past decades.

In-depth analysis of the impact of COVID-19 epidemic on the Sugar-Free Carbonated Drinks Market: https://www.alliedmarketresearch.com/request-for-customization/13993?reqfor=covid

According to the sugar-free carbonated drinks market trends, by distribution channel, the Others segment was the dominant segment. This segment includes the restaurant industry, fast food chains, quick service restaurants, food delivery services, online sales channels and others. Other distribution channels are a dominant and fastest growing segment due to the increasing popularity of fast food chains and online sales channels around the world.

According to the analysis of the global sugar-free carbonated drinks market, in 2020, North America dominated the market, garnering around 34.6% of the total sugar-free carbonated drinks market share, followed by Europe. North America and Europe are characterized by high disposable income, higher penetration of fast food chains and increased consumer awareness, making them leading markets for sugar-free soft drinks. However, Asia Pacific is expected to show a promising growth rate due to increased penetration of fast food chains, increased disposable income and increased consumer awareness of the benefits associated with low calorie drinks.

Players operating in the global sugar-free carbonated drinks market have adopted various development strategies to increase their market share, exploit the opportunities in the sugar-free carbonated drinks market, and increase profitability in the market. Major players featured in this report include Arizona Beverage Company, Llc., Asahi Group Holdings, Ltd., Bisleri International, Jones Soda Co., Keurig Dr Pepper, Inc., Kofola CeskoSlovensko AS, PepsiCo, Inc., Refresco Group BV, Suntory Group and The Coca-Cola Company.

Main conclusions of the study

The sugar-free soft drink market size was valued at $ 125.3 billion in 2020 and is expected to reach $ 243.5 billion by 2030, with a CAGR of 7.3% during the forecast period.
By type, the sports drink segment is expected to experience the fastest growth, registering a CAGR of 7.9% during the forecast period.
By flavor, the cola segment was valued at $ 67.7 billion, accounting for 54% of the global sugar-free soft drink market, in 2020.
The United States was North America’s largest market in 2020 and is expected to reach $ 21.2 billion by 2030, with a CAGR of 6.2% during the forecast period.

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