Craft Soda Market to Grow During the Forecast Period
The leading factors driving the
global craft soda market during the forecast period are growing tendencies
toward healthy living, conscious eating, and rising demand for healthy beverages.
According to
TechSci Research report, “Craft Soda Market – Global Industry Size, Share,
Trends, Competition, Opportunity, and Forecast, 2018-2028F,” The cans packaging segment of
craft soda market is projected to grow at a sizable CAGR during the forecast
period. This is due to the growing emphasis on environmentally friendly
packaging and the rise of more independent small-scale breweries. Additionally,
the segment will rise due to cans' high availability and inexpensive cost in
supermarkets and mass merchants. Aluminum cans usage has increased because of
rising global beverage consumption and a surge in interest in environmentally
friendly packaging alternatives. To increase their appeal among consumers,
these cans can also be customized in terms of colors, 3D printing, and
embossing. This is anticipated to contribute positively to the expansion of the
sector.
The global craft soda market
was worth USD641.24 million globally in 2021 and is projected to grow to USD768.08
million by 2027. One of the core companies covered in the global craft soda market
study is Reed's, Inc. Others include The Original Craft Soda Company, Wild
Poppy Company, Crooked Beverage Co., and Jones Soda Co. For instance, Sprecher
Brewing Co. in Glendale acquired six brands from WIT Beverage Co. in October
2021, and this acquisition will help the business achieve its expansion
objectives in the United States. The six new brands are Chicago, a U.S.-based
brand, Caruso's Italian-style Craft Soda, Green River, Chicago-style WBC Craft
Soda, Black Bear Soda from Wisconsin, Oak Creek Barrel-Aged Root Beer, and
Claire Baie Specialty Beverages are some examples of the sodas available.
Major global craft soda
market players include Reed's, Inc., The Original Craft Soda Company, Wild
Poppy Company, Crooked Beverage Co., Jones Soda Co., PepsiCo, Inc., The
Coca-Cola Company, Appalachian Craft Soda, Rocket Fizz Soda Pop & Candy
Shop.
Due to consumers' raising
awareness of the harmful ingredients used in soft drinks, the craft soda
industry is flourishing. Soft drinks contain a lot of sugar, which causes
insulin levels to rise and feeds tumors. The chemicals used to flavor soft
drinks can all raise the risk of breast cancer, prostate cancer, and pancreatic
cancer. More sugar consumption can result in a higher risk of diabetes. Tooth
decay is one of the main adverse effects of carbonated beverages on health. The
Craft Soda Market will expand more over the projected period of 2021–2028
because soft drinks contain cytotoxic and hydrolytic compounds that contribute
to weight gain. The always-shifting consumer demand is forcing important
businesses to alter their marketing strategies and bring in new customers. For
instance, Utmost Brands, Inc., a U.S. business that manufactures GuS - Grown-up
Soda, unveiled its unique Mango Peach flavor in New York City in June 2022 at
the Summer Fancy Food Show. The product is made of sweet peach juice, rich
mango puree, and a teeny bit of cane sugar and is gluten-free, kosher, and non-GMO
confirmed.
The most robust rate of
expansion is seen in the online channel, which provides retailers an
alternative to the traditional shop by showcasing many products on a single
platform with their specifications, brands, and other characteristics.
Browse over XX market data figures
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The global craft soda market is
segmented based on product type, packaging, distribution channel, and region.
The product type segment is divided into natural and organic. Based on
packaging, the segment is further divided into bottles, cans, and others. The
distribution channel segment is divided into supermarkets/hypermarkets, food
services and drinking places, convenience stores, online, and others (direct
sales, counter shops & modern grocery). A rise in internet users and the
adoption of e-commerce platforms are two variables that are expected to
accelerate the expansion of the online segment. Along with making customers
feel more comfortable with online purchasing, features like product comparison,
extensive product descriptions, and straightforward exchange and refund
alternatives are boosting sales.
Key market players in the global
craft soda market include:
- Jones Soda Co.
- PepsiCo, Inc.
- The Coca-Cola Company
- The Original
Craft Soda Company
- Crooked
Beverage Co.
- Appalachian
Craft Soda
- Rocket Fizz
Soda Pop & Candy Shop
- Reed’s Inc.
- Wild Poppy
Company
- Boylan Bottling
Co.
The market for craft soda is expanding because of the rising acceptance
of a healthy lifestyle, growing health concerns, and the demand for realistic
beverages among young adults. Consumers today favor beverages that provide more
health benefits as they adopt a holistic approach toward well-being. Consumers
are becoming increasingly interested in the trend of functional and healthy
beverages. Due to a rise in health consciousness among consumers, they are
willing to try more nutritious alternatives to traditional soft drinks. Craft
soda that has been improved is gaining a substantial piece of the market,
particularly with consumers looking for products that are good for their health
and consume less sugar.
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" Product
innovation is a significant trend that will severely impact growth over the
anticipated specified timeframe. Nowadays, young people prefer healthy drinks
that support their hectic schedules and lack workout time. These younger
clients are the readiest to take control of their health and are prepared to
spend more, if necessary, to achieve their goals. The market is expanding
because there are a variety of products available to fulfill the customers'
needs, as well as because the internet channel is becoming more and more
well-liked.” said Mr. Karan Chechi, Research Director with TechSci Research, a
research based global management consulting firm.
Craft Soda Market– Global Industry Size, Share, Trends,
Competition Forecast and Opportunities, 2018-2028F Segmented By Product Type (Natural & Organic), By Packaging
(Bottles, Cans and Others), By Distribution Channel (Supermarket/Hypermarket,
Food Services and Drinking Places, Convenience Stores, Online and other (Direct
Sales, Counter Shops & Modern Grocery), By Region, Competition”, has
evaluated the future growth potential of global craft soda market and provides
statistics and information on market structure, size, share, and future growth.
The report is intended to provide cutting-edge market intelligence and help decision-makers
take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges and
opportunities present in craft soda market globally.
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