In the global soft drinks industry in 2025, emerging markets are driving volume growth, while mature markets focus on premiumisation and functionality. Affordability concerns are shaping pricing and pack strategies, while e-commerce and informal retail gain traction. Local value brands are increasingly competing with multinational giants. Future growth depends on balancing cost, innovation and consumer trends, with opportunities in healthier beverages, sustainability and digital engagement.
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The global market for soft drinks saw another year of growth in 2024, with volume expansion increasingly dominated by rapidly expanding but low per capita consumption consumer markets in Southeast Asia, and the Middle East and Africa. Western Europe and North America face volume stagnation entering 2025, as higher retail prices have curbed topline consumption.
Revenue growth across the categories of global soft drinks has been primarily price-driven since the end of the pandemic. In 2025, the legacy of inflation and cost-of-living concerns will continue to shape consumer choices, boosting value-tier brands, club channels and discounter grocery. Premium and functional brands must carefully balance affordability and innovation in this climate.
The long-term dominance of major multinational producers like Coca-Cola and PepsiCo is being challenged like never before. On one hand, value-focused, highly localised brands in emerging markets are gaining share in carbonates, juices, bottled water and even premium energy drinks. On the other hand, premium, influencer-led independent launches now have outsized reach.
Over 2025-2029, the industry essentially faces a two-speed growth model. Mature markets will rely on premiumisation through promising functional innovation and category blurring (ie adult non-alcohol). In emerging consumer markets, volume growth will be driven by increased accessibility and affordability, meeting both local tastes and local economic realities.
The changing geography of growth in global soft drinks will ensure that independent small grocers and a more fragmented, informal retail landscape will play a growing role in distribution. At the same time, online meal delivery and new smart vending (or automated market) technologies will also form a larger part of impulse consumption in higher income markets.
This is the aggregation of the following categories; Carbonates, Fruit/vegetable juice, Bottled water, Functional drinks, Concentrates, RTD tea, RTD coffee and Asian speciality drinks.
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