At 5.0% CAGR, Europe Carbonated Soft Drinks Market is Projected to be Worth US$ 99,128.67 Million by 2031, says Business Market Insights

According to Business Market Insights’ research, the Europe carbonated soft drinks market was valued at US$ 67,123.78 million in 2023 and is expected to reach US$ 99,128.67 million by 2031, registering a CAGR of 5.0% from 2023 to 2031. Rising demand for premium carbonated soft drinks and increasing preference for sugar-free and zero-calorie carbonated soft drinks are among the critical factors attributed to drive the Europe carbonated soft drinks market growth.

Health has become a top priority for consumers across the globe, leading to a boom in demand for functional products. With increasing awareness of the health risks associated with high sugar intake, consumers are actively seeking out alternatives that allow them to indulge in carbonated beverages without compromising their health goals. Sugar-free and zero-calorie carbonated soft drinks offer a guilt-free option for those looking to reduce their sugar intake or manage their calorie consumption. These beverages are sweetened with artificial sweeteners such as aspartame, sucralose, or stevia, providing the familiar sweetness of traditional sodas without the added sugars. Moreover, the rise of health-conscious consumers and those following specific dietary trends, such as keto or low-carb diets, has fueled the demand for sugar-free and zero-calorie options. These consumers actively seek beverages that align with their dietary preferences while satisfying their cravings for carbonation and flavors. In response to this growing demand, many companies in the carbonated soft drinks market are expanding their portfolios to include a wider range of sugar-free and zero-calorie options. These products often come in a variety of flavors, catering to diverse consumer preferences and offering a wider selection than ever before. For instance, in October 2023, The Coca-Cola Company launched Coca-Cola Y3000 under its Coca-Cola Creations platform, the limited-edition zero sugar and a full-sugar version. In addition, in April 2021, Dr Pepper launched Dr Pepper Zero Sugar, with the blend of its signature 23 flavors in a zero-sugar soda. Additionally, advancements in beverage technology have enabled manufacturers to improve the taste and texture of sugar-free, and zero-calorie carbonated soft drinks, making them more appealing to consumers who previous iterations may have deterred.

Thus, stringent government norms and growing health awareness among consumers toward zero-sugar and zero-calorie carbonated soft drinks is encouraging manufacturers to develop new products and boost innovation in the market. This trend is expected to provide growth opportunities to the carbonated soft drinks market.

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

Based on flavor type, the Europe carbonated soft drinks market is segmented into cola, orange, lemonade, ginger, and others. The cola segment held 51.0% market share in 2023, amassing US$ 34.22 billion. It is projected to garner US$ 54.57 billion by 2031 to register 6.0% CAGR during 2023–2031.

In terms of category, the Europe carbonated soft drinks market is bifurcated into sugar-free and conventional. The conventional segment held 73.1% share of Europe carbonated soft drinks market in 2023, amassing US$ 49.04 billion. It is anticipated to garner US$ 70.17 billion by 2031 to expand at 4.6% CAGR during 2023–2031.

By packaging type, the Europe carbonated soft drinks market is bifurcated into bottles and cans. The bottles segment held 70.0% share of Europe carbonated soft drinks market in 2023, amassing US$ 46.96 billion. It is projected to garner US$ 66.11 billion by 2031 to expand at 4.4% CAGR from 2023 to 2031.

Based on end user, the Europe carbonated soft drinks market is categorized into on-trade and off-trade. The off-trade segment held 58.2% share of Europe carbonated soft drinks market in 2023, amassing US$ 39.09 billion. It is predicted to garner US$ 60.35 billion by 2031 to expand at 5.6% CAGR between 2023 and 2031.

Based on country, the Europe carbonated soft drinks market is categorized into Germany, France, Italy, the UK, Spain, Sweden, the Netherlands, and the Rest of Europe. Our regional analysis states that the Rest of Europe captured 29.7% share of Europe carbonated soft drinks market in 2023. It was assessed at US$ 19.93 billion in 2023 and is likely to hit US$ 24.69 billion by 2031, registering a CAGR of 2.7% during 2023–2031.

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