Soda Production Market will Reflect Significant Growth Prospects by 2023
Soda (baking soda, alkali metal oxide) is found in chemical compounds containing sodium such as sodium carbonate, sodium bicarbonate and sodium oxide. These compounds are used in various industries such as food and beverages, paper, and glass. For instance, soda bread is prepared using sodium bicarbonate which is otherwise known as baking soda. Soft drink which is a beverage containing sweetener, carbonated water and a flavoring is also known as soda or pop soda. Companies manufacturing soda also manufacture soft drinks by blending various ingredients with artificially carbonated water.
Research and development and carbonated beverage manufacturing are the primary activities of companies producing soda. These companies are now focusing on brand promotion to gain advantage in the highly competitive market. Major products covered in the industry include regular carbonated soft drinks, diet carbonated soft drinks, and sparkling water. Among these, regular carbonated drinks account for more than 60% share of the market, while diet carbonated drinks hold over 25% share. Sparkling water constitutes the rest of the market share. Major buyers of these products include supermarkets and grocery stores, vending machine operators, gas stations and convenience stores, warehouse clubs, and supercenters. Grocery stores account for more than one-third share of the total market. This is followed by gas stations and convenience stores, warehouse clubs, supercenters, and others, which account for rest of the market share.
The high per capita consumption of soft drinks is the major factor driving the global soda production market. Additionally, increasing demand in supermarkets and grocery stores is another factor fuelling demand for soda production in the market. Introduction of zero-calorie soda products has also boosted demand for soda production. Substitutes such as energy drinks, sports drinks and bottled water have also contributed to higher demand for soda production across the globe.
Increasing awareness about health and substitutes for soda drinks are likely to hamper the growth of the soda production in the market. Strict regulations have also adversely impacted the growth of soda production in the market. However, manufacturers are now focusing on introducing new products that would satisfy the needs of consumers.
North America, Europe, Asia Pacific and Rest of the World (RoW) are the major segments of the global soda production market. In terms of volume, Asia Pacific is expected to be the largest market due to rising demand for soda in the food and beverages industry in the region. North America and Europe are also anticipated to boost demand for soda production owing to increasing demand for soda in gas stations and convenience stores in these regions.
Some of the key players profiled in the global soda production market include The Coca-Cola Company, PepsiCo Inc, Dr Pepper Snapple Group, Inc., Faygo Beverages, Inc, Cott Corporation, Jones Soda Co., PARKER\’S ORGANIC JUICES PTY LTD, Nexba, Trend Drinks, Kirks Originals, Saxby’s, Dydo Drinko INC, Suntory Holdings Limited, Japan Tobacco Inc, Asahi Soft Drinks Co., Ltd , Tru Blu Beverages Pty Ltd, Ito En, Ltd, , Sangaria, Vitasoy International Holdings Limited, Hamound Boualem spa, Infri Cia Ltda, Sumol + Compal S.A., Perrier, Britvic plc, Ambev, Aje Group, Bickford’s Australia, Bundaberg Brewed Drinks and Pacific Refreshments Pty Ltd. Among these, The Coca-Cola Company accounts for the largest market share, followed by PepsiCo Inc and Dr Pepper Snapple Group, Inc.