Soft Drink Market

The article discusses the expected growth of the global soft drink market from 2022 to 2030, with projections for consumption volume and market value. It covers trends in consumption, production, imports, and exports of soft drinks, highlighting key statistics such as consumption volume, market value, production output, import and export volumes, and average prices. The data presented shows the performance of major soft drink markets, countries with high consumption and production volumes, as well as trends in per capita consumption and import/export prices.

Market Forecast

Driven by increasing demand for soft drinks worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +1.8% for the period from 2022 to 2030, which is projected to bring the market volume to 680B litres by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +3.8% for the period from 2022 to 2030, which is projected to bring the market value to $700.3B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Soft Drinks

In 2022, the amount of soft drinks consumed worldwide dropped to 592B litres, therefore, remained relatively stable against the previous year's figure. The total consumption volume increased at an average annual rate of +2.2% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2018 with an increase of 7.3%. Global consumption peaked at 599B litres in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

The global soft drink market revenue stood at $518.3B in 2022, remaining constant against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +1.3% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. Over the period under review, the global market reached the peak level at $530.6B in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were the United States (129B litres), China (100B litres) and Japan (26B litres), together comprising 43% of global consumption. Brazil, Indonesia, Pakistan, Nigeria, the UK, Bangladesh, Mexico and Germany lagged somewhat behind, together accounting for a further 19%.

From 2012 to 2022, the biggest increases were recorded for Nigeria (with a CAGR of +6.7%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the largest soft drink markets worldwide were the United States ($126.9B), China ($70.3B) and Japan ($58.1B), with a combined 49% share of the global market.

China, with a CAGR of +6.8%, saw the highest rates of growth with regard to market size among the main consuming countries over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of soft drink per capita consumption in 2022 were the United States (386 litres per person), Japan (207 litres per person) and the UK (176 litres per person).

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the main consuming countries, was attained by China (with a CAGR of +5.1%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Soft Drinks

In 2022, production of soft drinks decreased by -0.1% to 594B litres, falling for the third year in a row after two years of growth. The total output volume increased at an average annual rate of +2.2% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2018 with an increase of 7.1%. Global production peaked at 601B litres in 2019; however, from 2020 to 2022, production failed to regain momentum.

In value terms, soft drink production amounted to $515.5B in 2022 estimated in export price. The total output value increased at an average annual rate of +1.2% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2018 when the production volume increased by 13% against the previous year. Over the period under review, global production hit record highs at $548.3B in 2019; however, from 2020 to 2022, production failed to regain momentum.

Production By Country

The countries with the highest volumes of production in 2022 were the United States (129B litres), China (100B litres) and Japan (26B litres), together comprising 43% of global production. Brazil, Indonesia, Pakistan, Nigeria, Bangladesh, the UK, Mexico and Germany lagged somewhat behind, together accounting for a further 19%.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the leading producing countries, was attained by Nigeria (with a CAGR of +6.7%), while production for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Soft Drinks

After ten years of growth, overseas purchases of soft drinks decreased by -0.1% to 26B litres in 2022. Over the period under review, total imports indicated a remarkable increase from 2012 to 2022: its volume increased at an average annual rate of +5.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +71.7% against 2012 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 16%. As a result, imports reached the peak of 26B litres, leveling off in the following year.

In value terms, soft drink imports contracted modestly to $25.9B in 2022. In general, total imports indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +5.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +69.4% against 2012 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 17% against the previous year. As a result, imports attained the peak of $26.1B, leveling off in the following year.

Imports By Country

The UK (1.9B litres), Germany (1.7B litres), the United States (1.4B litres), France (1.2B litres), the Netherlands (1.2B litres), Belgium (1B litres) and Canada (0.7B litres) represented roughly 35% of total imports in 2022. The following importers - Ireland (462M litres), China (456M litres), Austria (441M litres), Slovakia (437M litres), Singapore (429M litres) and Hungary (427M litres) - each accounted for a 10% share of total imports.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +15.7%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the largest soft drink importing markets worldwide were the United States ($2B), the UK ($1.9B) and Germany ($1.8B), with a combined 22% share of global imports. France, the Netherlands, Canada, Belgium, China, Austria, Ireland, Singapore, Slovakia and Hungary lagged somewhat behind, together accounting for a further 25%.

In terms of the main importing countries, China, with a CAGR of +23.6%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Imports By Type

In 2022, sugary soft drinks (15B litres), distantly followed by non-alcoholic beverages, not containing milk (11B litres) represented the key types of soft drinks, together creating 100% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key imported products, was attained by sugary soft drinks (with a CAGR of +5.7%).

In value terms, sugary soft drinks ($13.6B) and non-alcoholic beverages, not containing milk ($12.3B) constituted the products with the highest levels of imports in 2022.

In terms of the main imported products, sugary soft drinks, with a CAGR of +5.8%, recorded the highest rates of growth with regard to the value of imports, over the period under review.

Import Prices By Type

In 2022, the average soft drink import price amounted to $1 per litre, approximately mirroring the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 4% against the previous year. Global import price peaked at $1 per litre in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major imported products. In 2022, the product with the highest price was non-alcoholic beverages, not containing milk ($1.1 per litre), while the price for sugary soft drinks amounted to $0.9 per litre.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by sugary soft drink (+0.1%).

Import Prices By Country

The average soft drink import price stood at $1 per litre in 2022, approximately mirroring the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the average import price increased by 4% against the previous year. Over the period under review, average import prices hit record highs at $1 per litre in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was China ($1.7 per litre), while Hungary ($0.4 per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+6.8%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Soft Drinks

For the eleventh year in a row, the global market recorded growth in overseas shipments of soft drinks, which increased by 4.3% to 29B litres in 2022. Overall, total exports indicated a resilient expansion from 2012 to 2022: its volume increased at an average annual rate of +5.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +74.7% against 2012 indices. The pace of growth appeared the most rapid in 2021 with an increase of 9.7% against the previous year. Over the period under review, the global exports hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, soft drink exports amounted to $27.7B in 2022. Over the period under review, total exports indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +5.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +48.7% against 2014 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 15% against the previous year. Over the period under review, the global exports hit record highs in 2022 and are likely to see gradual growth in the immediate term.

Exports By Country

The biggest shipments were from Germany (2.4B litres), Austria (2.4B litres), the Netherlands (2.1B litres), Thailand (1.7B litres), Poland (1.4B litres), France (1.2B litres), Belgium (1.1B litres), the United States (1B litres), Mexico (0.9B litres), Switzerland (0.9B litres), Italy (0.9B litres) and Spain (0.7B litres), together finishing at 58% of total export. The Czech Republic (604M litres) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Poland (with a CAGR of +13.9%), while the other global leaders experienced more modest paces of growth.

In value terms, the largest soft drink supplying countries worldwide were Austria ($3.5B), the Netherlands ($2.8B) and Germany ($2.3B), with a combined 31% share of global exports. Switzerland, Thailand, the United States, Belgium, France, Poland, Italy, Mexico, Spain and the Czech Republic lagged somewhat behind, together accounting for a further 35%.

Poland, with a CAGR of +13.8%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Exports By Type

In 2022, sugary soft drinks (16B litres), distantly followed by non-alcoholic beverages, not containing milk (13B litres) represented the largest types of soft drinks, together committing 100% of total exports.

From 2012 to 2022, the biggest increases were recorded for sugary soft drinks (with a CAGR of +6.1%).

In value terms, non-alcoholic beverages, not containing milk ($13.9B) and sugary soft drinks ($13.8B) were the products with the highest levels of exports in 2022.

Sugary soft drinks, with a CAGR of +6.7%, saw the highest rates of growth with regard to the value of exports, in terms of the main exported products over the period under review.

Export Prices By Type

The average soft drink export price stood at $1 per litre in 2022, stabilizing at the previous year. In general, the export price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 an increase of 6.8% against the previous year. The global export price peaked at $1 per litre in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major exported products. In 2022, the product with the highest price was non-alcoholic beverages, not containing milk ($1.1 per litre), while the average price for exports of sugary soft drinks amounted to $0.9 per litre.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by sugary soft drink (+0.6%).

Export Prices By Country

In 2022, the average soft drink export price amounted to $1 per litre, flattening at the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average export price increased by 6.8%. The global export price peaked at $1 per litre in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Switzerland ($2.1 per litre), while the Czech Republic ($0.5 per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+2.9%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform