At 6.0% CAGR, Asia Pacific Carbonated Soft Drinks Market is Projected to be Worth US$ 1,22,151.13 Million by 2031, says Business Market Insights

According to Business Market Insights’ research, the Asia Pacific carbonated soft drinks market was valued at US$ 76,372.09 million in 2023 and is expected to reach US$ 1,22,151.13 million by 2031, registering a CAGR of 6.0% from 2023 to 2031. Growing strategic initiatives by key players and increasing preference for sugar-free and zero-calorie carbonated soft drinks are among the critical factors attributed to drive the Asia Pacific carbonated soft drinks market growth.

Beverage companies are investing heavily in product diversification and innovation to meet the changing demands of consumers. This includes introducing new flavors, formulations, and packaging options to appeal to a broader audience. Whether it’s launching low-sugar or zero-calorie variants to cater to health-conscious consumers or introducing exotic and unique flavors to capture the interest of adventurous taste buds, strategic product initiatives are driving market expansion and differentiation. In addition, there is a growing emphasis on marketing and branding strategies to create compelling narratives and engage consumers on multiple platforms. Beverage companies leverage social media, influencer partnerships, and experiential marketing campaigns to build brand awareness, foster consumer loyalty, and drive product adoption. By crafting authentic and relatable brand stories that resonate with target demographics, companies can strengthen their market position and drive sustained growth over the long term. Moreover, strategic initiatives extend beyond product and marketing efforts to include sustainability and corporate responsibility initiatives. With increasing consumer awareness and concern about environmental issues, beverage companies are implementing sustainability practices throughout their supply chains, including packaging innovations, water conservation efforts, and carbon footprint reduction strategies. These initiatives align with consumer values and contribute to brand differentiation and competitive advantage in the marketplace.

Strategic partnerships and collaborations are also driving innovation and expansion within the carbonated soft drinks market. Beverage companies are partnering with other brands, technology firms, and startups to leverage complementary expertise, access new end users, and co-create innovative products. For instance, in February 2022, Coca-Cola launched its new global innovation platform, Coca-Cola Creations, along with its first limited-edition product, Coca-Cola Starlight. In addition, in April 2024, Microsoft Corp and The Coca-Cola Company announced a five-year strategic partnership to align Coca-Cola’s core technology strategy systemwide, enable the adoption of leading-edge technology, and foster innovation and productivity globally. As part of the partnership, Coca-Cola has made a US$ 1.1 billion commitment to the Microsoft Cloud and its generative artificial intelligence (AI) capabilities. The collaboration underscores Coca-Cola’s ongoing technology transformation, underpinned by the Microsoft Cloud as Coca-Cola’s globally preferred and strategic cloud and AI platform. Whether it's collaborating with celebrity influencers to launch limited-edition flavors, advanced technology integration, or partnering with beverage delivery services, alliances are driving market growth and unlocking new opportunities for revenue generation.

On the contrary, negative effects of carbonated soft drinks on health hamper the growth of Asia Pacific carbonated soft drinks market.

Based on flavor type, the Asia Pacific carbonated soft drinks market is segmented into cola, orange, lemonade, ginger, and others. The cola segment held 51.6% market share in 2023, amassing US$ 39.44 billion. It is projected to garner US$ 68.37 billion by 2031 to register 7.1% CAGR during 2023–2031.

In terms of category, the Asia Pacific carbonated soft drinks market is bifurcated into sugar-free and conventional. The conventional segment held 77.5% share of Asia Pacific carbonated soft drinks market in 2023, amassing US$ 59.20 billion. It is anticipated to garner US$ 92.38 billion by 2031 to expand at 5.7% CAGR during 2023–2031.

By packaging type, the Asia Pacific carbonated soft drinks market is bifurcated into bottles and cans. The bottles segment held 69.1% share of Asia Pacific carbonated soft drinks market in 2023, amassing US$ 52.80 billion. It is projected to garner US$ 80.49 billion by 2031 to expand at 5.4% CAGR from 2023 to 2031.

Based on end user, the Asia Pacific carbonated soft drinks market is categorized into on-trade and off-trade. The off-trade segment held 78.3% share of Asia Pacific carbonated soft drinks market in 2023, amassing US$ 59.80 billion. It is predicted to garner US$ 98.23 billion by 2031 to expand at 6.4% CAGR between 2023 and 2031.

Based on country, the Asia Pacific carbonated soft drinks market is categorized into Australia, China, Japan, India, South Korea, and the Rest of Asia Pacific. Our regional analysis states that the Rest of Asia Pacific captured 34.0% share of Asia Pacific carbonated soft drinks market in 2023. It was assessed at US$ 26.00 billion in 2023 and is likely to hit US$ 37.04 billion by 2031, registering a CAGR of 4.5% during 2023–2031.

Key players operating in the Asia Pacific carbonated soft drinks market are The Coca-Cola Co, PepsiCo Inc, Red Bull, Fevertree Drinks Plc, Monster Beverage Corp, Britvic Plc, Keurig Dr Pepper Inc, Asahi Group Holdings Ltd, and Refresco Group, among others.

• In April 2023, Fever-Tree introduced a limited-edition summer tonic water, featuring passionfruit and lime flavors. The water is free from artificial flavors and sweeteners, with 18 calories per 100ml, and can be paired with gin, vodka, or ice.

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