The global craft soda market is projected to reach USD 732.4 million by 2025, according to a new report by Grand View Research, Inc. Mounting social awareness of the health problems caused by sugary as well as alcoholic drinks is one of the major drivers for this industry. The market is reforming itself by shifting its alignment from carbonated soft drinks containing artificial sweeteners to natural, sweet-laden, low-calorie beverages.
While traditional soft drinks are under review by nutritionists, craft soda, also known as specialty, small-batch, or artisanal soda, is gaining share owing to its finest and natural ingredients, unique packaging, creative flavors, and its strong local presence. Rising trend of gourmet food as well as wellness food is expected to be the vital factor for increasing consumption of craft sodas.
Strict government guidelines for artificial ingredients and labeling & packaging along with initiatives to build interest among major players by increasing trade promotion and foreign investments are anticipated to propel the product demand. Rising awareness of consumers about unhealthy ingredients used in soft drinks is encouraging craft soda manufacturers to produce beverages containing organic & natural ingredients.
Introduction of new product lines by craft soda producers is likely to enable consumers to choose products from extensive product line according to their specific choices. The broadening of distribution channels has led to easy availability for the users, which is acting as a driver for this industry. Marketing plays a vital role in sustainability and organizational sales. Supermarkets & hypermarkets emerged as the largest distribution channel for companies on account of their global footprint, brand value, and huge customer base.
Further key findings from the report suggest:
- The global craft soda market accounted for USD 537.9 million in 2016 and is anticipated to progress at a healthy CAGR of 3.5% over the forecast period
- Natural craft soda occupied the largest market share in 2016 owing to the rising health concerns and high market penetration
- North America was the largest regional market in 2016 owing to high standard of living of the population and developed economy
- Supermarkets & hypermarkets was the most dominant distribution channel for this market owing to the increasing distribution by mainstream retailers
- Major players include Jones Soda Co., Reed’s, Inc., Appalachian Brewing Co., Boylan Bottling Co., and SIPP eco beverage co. Inc.
- Mergers and acquisitions, R&D activities, product launches, and technological collaborations are among the major strategies adopted by market players for gaining competitive advantage
Grand View Research has segmented the global craft soda market on the basis of product type, target consumer, distribution channel, and region:
Product Type Outlook (Volume, Million Liters; Revenue, USD Million; 2014 - 2025)
Target Consumer Outlook (Volume, Million Liters; Revenue, USD Million; 2014 - 2025)
- Young Adults
- Middle-Aged Adults
Distribution Channel Outlook (Volume, Million Liters; Revenue, USD Million; 2014 - 2025)
- Supermarkets & Hypermarkets
- Food Service and Drinking places
- Convenience & Specialty Stores
- Online Stores
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