Description

This comprehensive carbonated soft drinks market report provides comprehensive and current information and analysis of the CSD market including carbonated soft drinks market size, anticipated market forecast, relevant market segmentation, and industry trends for the carbonated soft drinks market in the US.

Commonly Asked Market Research Questions

What is the size of the carbonated soft drink market?

The pandemic led retail sales of the carbonated soft drinks market to surpass the $42 billion market in 2021 and, following a very slight retreat in 2022, the category is expected to resume positive growth through 2026 to reach $44.7 billion.

Who has the largest share of the US carbonated soft drink market?

Coca-Cola has maintained a market share lead across carbonated soft drinks segments, with a substantial 42% market share in 2022. The category’s second leading brand is unsurprisingly, PepsiCo, amounting to just over 27% market share of the carbonated soft drinks market in 2022.

What are the challenges facing the carbonated soft drink market in the US?

The carbonated soft drinks market still grapples with a less-than-healthy reputation which presents as a barrier for more frequent consumption. More than half of carbonated soft drink (CSD) consumers indicate they would like to reduce their CSD consumption in the coming year, and two-thirds say CSDs are too unhealthy to drink regularly.

US Carbonated Soft Drinks Market Landscape

Taste and enjoyment are hallmarks of the category pointing to signs that flavor innovation is a draw for both those not seeking healthier options (regular), and those that are (diet). Flavor innovation is a purchase driver among the category’s most engaged consumers: those under 55. Nearly 60% would be motivated to increase consumption by a new CSD flavor (see Attitudes toward Carbonated Soft Drinks). Yet, it’s the skillful overhaul in the diet segment that continues to drive category growth with zero formulations continuing to tap into anti-diet, diet positioning addressing both the stigmas of sugar and old-fashioned notions of diets.

Future Market Trends in Carbonated Soft Drinks

While CSDs are an indulgence available in a variety of accessible price points, inflation at large may be the tipping point that spurs consumers to finally follow through on self-professed healthy aspirations once and for all. More than half of category participants would like to cut back consumption in the next year. Reinforcing value and versatility while meeting consumer and household needs for a number of occasions can help CSD brands stay in the consideration set in a competitive beverage market, even as consumers look to focus on making healthier choices.

Nearly seven in 10 consumers primarily drink CSDs as a treat, indicating that flavor, fun and refreshment are expectations and the values that made the category thrive in uncertain times. If formulations that support BFY or dietary aspirations meet those familiar taste expectations, there is value. Going forward, rising prices literally everywhere could prompt consumers to reach for function found within CSDs, brands and flavor profiles they already know and love.

To discover more about the Carbonated Soft Drinks Market report, read our US Juice and Juice Drinks Market Report 2021, or take a look at our other Drinks research reports.

Quickly Understand

  • Types and frequency of CSDs consumed.
  • Change in CSD consumption.
  • Interest in BFY CSDs.
  • Attitudes toward CSDs.

Leading Drink Brands Featured in this Report

Coca-Cola, PepsiCo, Keurig Dr Pepper, Sprite, Fanta, Mountain Dew, Canada Dry, A&W, 7 Up, Sunkist, Crush, Schweppes, Squirt, Diet Coke, Fever Tree, Mike and Ike, Virgil’s, Poppi, Olipop, Rebbi Pop, GuTSY.

Expert Analysis from a Specialist in the Food and Drink Sector

This report, written by Billy Roberts, a leading analyst in the Food and Drink sector, delivers in-depth commentary and analysis  on the carbonated soft drinks market share, to highlight current trends and add expert context to the numbers.

While a less than healthy reputation has yet to dramatically impact participation in the category, the bevy of healthy competitors in the wider non-alcoholic beverage market will always remain a threat to loss of occasions for CSDs. Renewed focus, reformulations and flavor innovation have guided brands through a competitive and volatile period especially in the last two years, particularly in the skillfully overhauled diet segment, suggesting that steadfast CSD loyalists may be open to more BFY function if familiar flavor remains intact.

Billy Roberts
Food and Drink

Table of Contents

  1. Overview

    • What you need to know
    • This Report looks at the following areas
    • Definition
    • Market context
    • COVID-19: US context
    • Economic and other assumptions
  2. Executive Summary

    • Top takeaways
    • Market overview
      • Figure 1: Total US sales and fan chart forecast of carbonated soft drinks, at current prices, 2016-26
      • Figure 2: Total US retail sales and forecast of carbonated soft drinks, at current prices, 2016-26
      • Figure 3: Carbonated soft drink outlook, 2022-27
    • Challenges and opportunities
    • Change in consumption is 50/50
      • Figure 4: Change in CSD consumption, 2022
    • Familiar tastes + BFY function = value
      • Figure 5: Health attitudes toward CSDs, any agree, by age, 2022
    • Take variety to new levels to win new occasions
      • Figure 6: Attitudes toward CSD flavor innovation, any agree, by age, 2022
    • Daytime opportunities are up for grabs
      • Figure 7: Change in CSD consumption, by work-from-home and employment status, 2022
  3. Market Size and Forecast

    • CSDs return to slow growth as consumers seek healthier options
      • Figure 8: Total US sales and fan chart forecast of carbonated soft drinks, at current prices, 2016-26
      • Figure 9: Total US retail sales and forecast of carbonated soft drinks, at current prices, 2016-26
  4. Segment Performance

    • Diet CSDs set the pace, as both segments grow
      • Figure 10: Total US retail sales and forecast of carbonated soft drinks, by segment, at current prices, 2016-26
      • Figure 11: Total US retail sales and forecast of carbonated soft drinks, by segment, at current prices, 2016-26
    • After a rough 2020, convenience channels back on the rise
      • Figure 12: Total US retail sales of carbonated soft drinks, by channel, at current prices, 2016-21
      • Figure 13: Total US retail sales of carbonated soft drinks, by channel, at current prices, 2016-21
  5. Market Factors

    • Remote working leads to diverse locations for consumption
    • Aluminum’s limited availability
    • Recycle message may shift to reuse
    • Rising inflation to keep food spend at home
      • Figure 14: Consumer Sentiment Index, 2019-22
    • Despite an unhealthy rap, CSD remains high on the list of beverages consumed
      • Figure 15: Beverage consumption, by age, 2022
  6. Market Share/Key Players

    • Coke’s SKU reduction barely impacts leaderboard
    • Sales of carbonated soft drinks by company
      • Figure 16: Multi-outlet sales of carbonated soft drinks, by leading companies, rolling 52 weeks 2020 and 2021
    • Company/brand sales by segment
    • Flavors and adjusted routines fuel sales growth in regular CSDs
      • Figure 17: Multi-outlet sales of regular carbonated soft drinks, by leading companies and brands, rolling 52 weeks 2020 and 2021
    • Zeroes continue to be diet CSD heroes
      • Figure 18: Multi-outlet sales of diet carbonated soft drinks, by leading companies and brands, rolling 52 weeks 2020 and 2021
  7. Competitive Strategies and Market Opportunities

    • CSD innovation ranges from familiar to mysterious
      • Figure 19: Flavor innovation in CSD introductions, 2022
    • Get into the game
      • Figure 20: Brands speak to gamers via social media, 2022
    • More brands break up with sugar and diet
      • Figure 21: Attitudes toward artificially sweetened CSDs, by age, 2022
      • Figure 22: Functional health innovation in CSD introductions, 2022
    • Is functionality the next evolution of CSDs?
      • Figure 23: Functional health innovation in CSD introductions, 2022
  8. The Carbonated Soft Drink Consumer: Fast Facts

    • The CSD consumer
    • Drivers of CSD selection
    • Health/wellness and CSD perception
  9. CSD Consumption

    • Regular options maintain consumption lead
      • Figure 24: CSD consumption, 2022
      • Figure 25: Repertoire of CSD consumption, 2022
    • Diet is a four-letter word to 18-34s
      • Figure 26: CSD consumption, by age, 2022
    • Create “at-work” opportunities for CSDs
      • Figure 27: Consumption occasions, by consumption of carbonated soft drinks, 2022
    • “Diet” drinkers are devoted
      • Figure 28: Repertoire of CSD consumption, by type of CSD consumed, 2022
  10. Change in CSD Consumption

    • Changes in consumption cancel each other out
      • Figure 29: Change in CSD consumption, 2022
    • Tailor messaging to at-home workers
      • Figure 30: Change in CSD consumption, by age and work-from-home status, 2022
  11. CSD Consumption Frequency

    • New occasions will create new habits
      • Figure 31: CSD consumption frequency, 2022
  12. Interest in BFY CSDs

    • Mix familiar tastes with function to create value
      • Figure 32: BFY attributes that encourage new CSD trial, 2022
    • Diet drinkers are up for function
      • Figure 33: BFY attributes that encourage new CSD trial, by diet CSD consumption, 2022
    • Consumers seek energy and clean labels
      • Figure 34: TURF analysis – BFY attributes that encourage new CSD trial, 2022
      • Figure 35: Table – TURF analysis – BFY attributes encouraging trial, 2022
  13. Interest in CSD Innovation

    • Vitamin/mineral fortification trumps texture, fermentation
      • Figure 36: Interest in CSD innovation, 2022
    • Under 45s more willing to experiment with unique texture
      • Figure 37: Interest in CSD innovation, by age, 2022
    • Fortification for a wide swath of CSD consumers
      • Figure 38: Interest in CSD innovation, by repertoire of CSD consumption, 2022
  14. Attitudes toward Carbonated Soft Drinks

    • Consumers seek balance
      • Figure 39: Attitudes toward carbonated soft drinks, 2022
    • Parents, under 55s think homemade beverages are better
      • Figure 40: Attitudes toward made-at-home carbonated soft drinks, any agree, by age, 2022
    • Premium CSDs from major brands appeal strongly to parents
      • Figure 41: Attitudes toward CSD purchase factors, any agree, by parental status, by gender, 2022
    • Threat of consumption reduction is strong among under 55s
      • Figure 42: Health attitudes toward CSDs, any agree, by age, 2022
    • It’s not all about health for under 55s
      • Figure 43: Attitudes toward CSD innovation, any agree, by age, 2022
  15. Appendix – Data Sources and Abbreviations

    • Data sources
    • Sales data
    • Forecast
    • Consumer survey data
    • Abbreviations and terms
    • Abbreviations
  16. Appendix – The Market

      • Figure 44: Total US retail sales and forecast of carbonated soft drinks, at current prices, 2016-26
      • Figure 45: Total US retail sales and forecast of carbonated soft drinks, at inflation-adjusted prices, 2016-26
      • Figure 46: Total US retail sales and forecast of carbonated soft drinks, by segment, at current prices, 2016-26
      • Figure 47: Total US retail sales of carbonated soft drinks, by segment, at current prices, 2019 and 2021
      • Figure 48: Total US retail sales and forecast of regular carbonated soft drinks, at current prices, 2016-26
      • Figure 49: Total US retail sales and forecast of regular carbonated soft drinks, at inflation-adjusted prices, 2016-26
      • Figure 50: Total US retail sales and forecast of diet carbonated soft drinks, at current prices, 2016-26
      • Figure 51: Total US retail sales and forecast of diet carbonated soft drinks, at inflation-adjusted prices, 2016-26
  17. Appendix – Companies and Brands

      • Figure 52: Multi-outlet sales of carbonated soft drinks, by leading companies, rolling 52 weeks 2020 and 2021
      • Figure 53: Multi-outlet sales of regular carbonated soft drinks, by leading companies and brands, rolling 52 weeks 2020 and 2021
      • Figure 54: Multi-outlet sales of diet carbonated soft drinks, by leading companies and brands, rolling 52 weeks 2020 and 2021
  18. Appendix – Retail Channel

      • Figure 55: Total US retail sales of carbonated soft drinks, by channel, at current prices, 2016-21
      • Figure 56: Total US retail sales of carbonated soft drinks, by channel, at current prices, 2019 and 2021
      • Figure 57: US supermarket sales of carbonated soft drinks, at current prices, 2016-21
      • Figure 58: US convenience store sales of carbonated soft drinks, at current prices, 2016-21
      • Figure 59: US sales of carbonated soft drinks through other retail channels, at current prices, 2016-21
  19. Appendix – Consumer

      • Figure 60: Average annual household spending on carbonated soft drinks, 2016-21
  20. TURF Analysis – Methodology

      • Figure 61: TURF analysis – BFY attributes encouraging trial, 2022
      • Figure 62: Table – TURF analysis – BFY attributes encouraging trial, 2022

About the report

This market report provides in-depth analysis and insight supported by a range of data. At the same time, introductory and top-level content is provided to give you an overview of the issues covered.

Market

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Data

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