Asia Pacific Carbonated Soft Drinks Market Forecast to 2031 - Regional Analysis - by Flavor Type (Cola, Orange, Lemonade, Ginger, and Others), Category (Sugar-free and Conventional), Packaging Type (Bottles and Cans), and End User (On-Trade and Off-Trade)

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; it is estimated to register a CAGR of 6.0% from 2023 to 2031.

Increasing Preference for Sugar-Free and Zero-Calorie Carbonated Soft Drinks Boosts Asia Pacific Carbonated Soft Drinks Market

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.

Asia Pacific Carbonated Soft Drinks Market Overview

The region's large and diverse population, including emerging economies such as China, India, and Southeast Asian (SEA) countries, presents a vast consumer base for carbonated beverages. Rising disposable incomes, urbanization, and changing lifestyles contribute to increased consumption of convenience foods and beverages, including carbonated soft drinks. Further, growing awareness regarding the need for an active lifestyle and the rising rates of lifestyle diseases inspire health-oriented consumers to opt for sugar-free carbonated soft drinks. The sugar-free beverages market is also projected to grow due to increased promotional and advertisement strategies by various manufacturers operating in the market. According to the International Diabetes Federation (IDF), the number of people with diabetes in SEA is anticipated to increase by 68%, reaching 152 million by 2045, and the prevalence of diabetes will increase by 30%, reaching 11.3% in 2045. Consumers are becoming increasingly aware of the importance of a healthy diet and an active lifestyle due to the extreme occurrence of diabetes in Asia. Natural sweeteners, including stevia, are preferred by consumers in their beverages. Companies such as PepsiCo, Inc. and the Coca-Cola Company have pledged to eliminate artificial additives and lower the amount of sugar in their products. Thus, such initiatives taken by manufacturers boost the demand for carbonated soft drinks among consumers in Asia Pacific. The accessibility and availability of carbonated soft drinks are also driving market growth in Asia Pacific. The expansion of modern retail channels, including supermarkets, convenience stores, and online platforms, makes these beverages easily available to consumers across urban and rural areas. Additionally, vending machines and beverage dispensers in public spaces enhance the visibility and distribution of carbonated soft drinks.

Asia Pacific Carbonated Soft Drinks Market Revenue and Forecast to 2031 (US$ Million)

Asia Pacific Carbonated Soft Drinks Market Segmentation

The Asia Pacific carbonated soft drinks market is categorized into flavor type, category, packaging type, end user, and country.

Based on flavor type, the Asia Pacific carbonated soft drinks market is segmented into cola, orange, lemonade, ginger, and others. The cola segment held the largest Asia Pacific carbonated soft drinks market share in 2023.

In terms of category, the Asia Pacific carbonated soft drinks market is bifurcated into sugar-free and conventional. The conventional segment held a larger Asia Pacific carbonated soft drinks market share in 2023.

By packaging type, the Asia Pacific carbonated soft drinks market is bifurcated into bottles and cans. The bottles segment held a larger Asia Pacific carbonated soft drinks market share in 2023.

Based on end user, the Asia Pacific carbonated soft drinks market is categorized into on-trade and off-trade. The on-trade segment held a larger Asia Pacific carbonated soft drinks market share in 2023.

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. The Rest of Asia Pacific dominated the Asia Pacific carbonated soft drinks market share in 2023.

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 are some of the leading companies operating in the Asia Pacific carbonated soft drinks market.

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