Carbonated drinks are those drinks that fizz due to carbon dioxide gas that is filled in it. This process where the gas dissolves in the drink is called carbonation. This process can sometimes occur naturally as in the case of carbonated mineral water which absorbs carbon dioxide from the ground. In the mad – made processes, like soda waters and soft drinks, they are artificially infused into the drinks at high pressures. The purpose of carbonation is to gives a bite to the flavour and the acid gives the tingling sensation.
According to the Research Report “Global Carbonated Beverage Market (2018 – 2023)” gives a detailed analysis of the global market for the carbonated beverage market. The report contains an in-depth analysis of the vendor’s profile, which includes financial health, business units, key business priorities, SWOT, strategies, and views; and competitive landscape. The leading players in the market include The Coca-Cola Company, PepsiCo Inc., Dr Pepper Snapple, Cott Corporation, Asahi Soft Drinks, National Beverage Corp., F&N Foods, Britvic PLC and ParleAgro.
The market continues to be dominated by PepsiCo and Coca Cola. Their consistent success is due to their long going brand legacies founded on emotional advertising and cultural marketing. The industry as a whole is undergoing major innovations in terms of packaging, cost effectiveness and product deliveries. The major challenge the industry faces are the health risks attached to these drinks coupled with the rise of health-conscious consumers. Due to high child obesity, there is a major shift in the consumer preferences from high – sugar carbonated drinks to a healthier, sugar – free alternative. As a result of this, the sports drink market has emerged as a major rivalry for these firms. Many brands are establishing their competitive advantage through packaging. Major challenges also include governmental initiatives by passing sugar taxes and new regulations like labelling ‘high sugar content’ on these products.
Despite these factors, the market is growing mainly due to reduced costs. Many brands are also increasingly focusing on sustainability as an important agenda. The future of the industry looks bright and optimistic in terms of product innovation. New flavour derivatives, sugar – free and healthier alternatives are likely to be expected. Since consumers are becoming conscious health-wise, they are also expecting experience and indulgence with these beverages and the brands are working towards balancing these two. Region-wise, North America leads the market followed by Europe.
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Ankur Gupta, Head Marketing & Communications