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The sugar free carbonated drinks market is projected to grow by USD 10.55 billion with a CAGR of 6.14% during the forecast period 2021 to 2026.
This sugar free carbonated drinks market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers the sugar free carbonated drinks market segmentation by distribution channel (off-premise and on-premise) and geography (North America, Europe, APAC, South America, and the Middle East and Africa). The sugar free carbonated drinks market report also offers information on several market vendors, including AriZona Beverages USA LLC, Asahi Group Holdings Ltd., Bisleri International Pvt. Ltd., Britvic Plc, Fyre Energy Drink Mix, Hell Energy Hungary Kft., Jones Soda Co., Keurig Dr Pepper Inc., Kofola CeskoSlovensko A.S., PepsiCo Inc., Red Bull GmbH, Refresco Group BV, Rowdy Energy Drink, Suntory Beverage and Food Ltd., The Coca Cola Co., The Kraft Heinz Co., XL Energy Marketing S.p. z o.o., and ZOA Energy LLC among others.
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Our researcher studied the historical data for years, with 2021 as the base year, and 2022 as the estimated year, and produced drivers, trends, and challenges for the sugar free carbonated drinks market. During the COVID-19 pandemic, the sugar free carbonated drinks market demand has been impacted greatly. A holistic analysis of drivers will help in predicting exact demands and refining marketing strategies to gain a competitive advantage.
Key Sugar Free Carbonated Drinks Market Driver
The growing influence of online retailing is one of the key drivers fueling the sugar free carbonated drinks market growth. Customers prefer online shopping, owing to its convenience and easy payment process, which helps them avoid time-consuming journeys and billing queues. Online shopping portals have enhanced security features that increase sales and purchases and user-friendly website designs that offer enhanced and efficient product visibility. This trend is encouraging vendors to focus on the Internet-savvy customer segment. Such factors are expected to fuel the growth of the market during the forecast period.
Key Sugar Free Carbonated Drinks Market Trend
Increasing consumption by Millennials is of the key sugar free carbonated drinks market trends propelling the market growth. Sugar-free carbonated drinks are popular among all consumer age groups. However, consumers falling in the Millennial age group are driving the major share of the market as they have specific health and wellness needs such as stress management and energy retention. Therefore, they prefer sugar-free carbonated drinks with strong nutritional profiles. Millennials also have high purchasing power and disposable income. Hence, they are willing to pay a premium for health-related products. Such factors are expected to fuel the growth of the market during the forecast period.
Key Sugar Free Carbonated Drinks Market Challenge
Stringent regulations and health claim validations are one of the factors limiting the sugar free carbonated drinks market growth. Sugar-free carbonated drinks are highly regulated products across the world. Ingredients added to these drinks include natural/artificial flavors, coloring, preservatives, and others used in manufacturing sugar-free carbonated drinks, all of which are closely monitored. The regulations for sugar-free carbonated drinks base differ from one country to another. The US lists sugar-free carbonated drinks base as a permitted additive and provides authorization for various components of sugar-free carbonated drinks, including natural and synthetic flavors, softeners, natural and synthetic resins, and antioxidants. Such regulations are expected to reduce the sales volume of sugar-free carbonated drinks during the forecast period.
This sugar free carbonated drinks market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global sugar free carbonated drinks market as a part of the global packaged foods and meats market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the sugar free carbonated drinks market during the forecast period.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the sugar free carbonated drinks market encompasses successful business strategies deployed by the key vendors. The sugar free carbonated drinks market is fragmented, and the vendors are deploying organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments.
The sugar free carbonated drinks market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the leading companies' production, sustainability, and prospects.
Our report provides extensive information on the value chain analysis for the sugar free carbonated drinks market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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40% of the market’s growth will originate from North America during the forecast period. The US is the key market for the sugar free carbonated drinks market in North America. Market growth in this region will be faster than the growth of the market in the Middle East and Africa.
Higher consumption of added sugar may lead to obesity, high blood pressure, diabetes, and certain types of cancer, which will facilitate the sugar free carbonated drinks market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID-19 Impact and Recovery Analysis
In 2020, the outbreak of COVID-19 negatively impacted the growth of the regional market. However, in 2021, the initiation of large-scale vaccination drives led to the lifting of lockdowns. This resulted in the reopening of stores, food service centers, restaurants, and cafes, which, in turn, increased the demand for sugar-free carbonated drinks in the region. Such factors are expected to lead to significant growth in the market during the forecast period.
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The sugar free carbonated drinks market share growth by the off-premise segment will be significant during the forecast period. Sugar-free carbonated drinks are mostly sold through the offline distribution channel, which includes retail formats such as specialty stores, hypermarkets, and others. In addition, consumers find it beneficial to shop from such retail stores owing to attractive discount offers and schemes. Such factors are anticipated to boost the off-premise segment's growth during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the sugar free carbonated drinks market size and actionable market insights on the post-COVID-19 impact on each segment.
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Sugar Free Carbonated Drinks Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 6.14% |
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Market growth 2022-2026 |
$10.55 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
5.76 |
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Regional analysis |
North America, Europe, APAC, South America, and the Middle East and Africa |
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Performing market contribution |
North America at 40% |
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Key consumer countries |
US, China, Japan, Germany, and UK |
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Competitive landscape |
Leading companies, Competitive Strategies, Consumer engagement scope |
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Key companies profiled |
AriZona Beverages USA LLC, Asahi Group Holdings Ltd., Bisleri International Pvt. Ltd., Britvic Plc, Fyre Energy Drink Mix, Hell Energy Hungary Kft., Jones Soda Co., Keurig Dr Pepper Inc., Kofola CeskoSlovensko A.S., PepsiCo Inc., Red Bull GmbH, Refresco Group BV, Rowdy Energy Drink, Suntory Beverage and Food Ltd., The Coca Cola Co., The Kraft Heinz Co., XL Energy Marketing S.p. z o.o., and ZOA Energy LLC |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Distribution Channel
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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