The global craft soda market is forecast to expand at a CAGR of 5.3% and thereby increase from a value of US$7.5 Bn in 2023 to US$1.08 Bn by the end of 2030.
High Consumer Desire for Natural and Organic Beverages in North America to Fuel Growth Market
In 2022, the North American craft soda market had a dominant position over all other regional markets. The area is a major factor in the growth of the craft soda market because of the In 2022, the North American craft soda market had a dominant position over all other regional markets. The area is a major factor in the growth of the craft soda market because of the growing customer desire for natural and organic beverages. The growing health consciousness of customers and their quest for better soda options has led to an increase in the demand for craft soda in the area. Furthermore, the growing trend of premiumization and unique flavor experiences is another reason why the craft soda industry is growing in North America. This is exemplified by the increase in local small- and medium-sized craft soda makers, who use unique and cutting-edge flavors to entice consumers. In addition, people are spending more money on beverages with lower sugar content as a result of growing health consciousness among consumers in nations like the United States and Canada. To strengthen their positions in the market and increase their footprint, businesses are concentrating on making smart acquisitions. For instance, in October 2021, WIT Beverage firm sold Green River, WBC Craft Sodas, Caruso's Italian Style Sodas, and Oak Creek Barrel Aged Root Beer to Sprecher Brewing Co.-Chicago, a well-known American brand. To gain the lion's share of the American market and expedite supply, distribution, and product development, the corporation would also profit from the acquisition.
Research Report:https://www.persistencemarketresearch.com/market-research/craft-soda-market.asp
What Opportunities Lies in South Asia & Oceania for Manufacturers?
Rising Tendency Toward Low-sugar Drinks in South Asia & Oceania will Boost its Expansion
South Asia & Oceania craft soda market is expected to grow at a significant rate over the forecast period. Growing product penetration in emerging nations like China, Australia, and India is probably good news for regional expansion. To boost sales and expand their clientele, a number of domestic and foreign companies are introducing their goods in developing nations with growing populations. For instance, SHUNYA Indian beverage brands provide a variety of craft soda products in flavors such as Lemon, Lime, and Classic Cola. Moreover, the region may see profitable market growth potential due to the growing tendency toward low-sugar or low-calorie drinks and the constantly growing young population. Additionally, the growing trend of premiumization and unique flavor experiences is driving growth in the region's craft soda market. This is evidenced by the increase of local small- and medium-sized craft soda makers, who attract customers with unique and cutting-edge flavors. Furthermore, the growing popularity of e-commerce platforms in the area is expected to support the growth of the craft soda market, as consumers are turning more and more to online channels for their purchases.
Craft Soda Market Research Segmentation
By Flavor:
- Cola
- Tropical Fruits
- Berries
- Others
By Packaging:
- Glass
- Cans
- Plastic
- Others
By Distribution Channel:
- On-Trade
- Off-Trade
- B2C
By Region:
- North America
- Europe
- East Asia
- South Asia & Oceania
- Latin America
- Middle East & Africa
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