Soft Drinks - North America

The Soft Drinks market in North America has been experiencing significant growth in recent years.

Customer preferences: One of the key factors driving the growth of the Soft Drinks market in North America is the changing customer preferences. Consumers are becoming more health-conscious and are seeking out healthier beverage options. As a result, there has been a shift towards low-sugar and sugar-free soft drinks, as well as an increasing demand for natural and organic ingredients. In addition, there is a growing interest in functional beverages, such as energy drinks and sports drinks, which provide additional health benefits.

Trends in the market: One of the major trends in the Soft Drinks market in North America is the rise of craft and artisanal beverages. Consumers are increasingly looking for unique and premium soft drinks that offer a more personalized and authentic experience. This has led to the emergence of small-scale producers who focus on creating high-quality, handcrafted beverages with unique flavors and ingredients. Another trend in the market is the growing popularity of ready-to-drink (RTD) beverages, particularly among busy urban consumers who are looking for convenient and on-the-go options.

Local special circumstances: The Soft Drinks market in North America is highly competitive, with a large number of global and regional players vying for market share. This has led to intense competition and a constant need for innovation and product differentiation. In addition, the regulatory environment in North America is quite strict when it comes to labeling and advertising of soft drinks, which has forced companies to be more transparent about the ingredients and nutritional content of their products.

Underlying macroeconomic factors: The Soft Drinks market in North America is also influenced by macroeconomic factors. The region has a high disposable income and a strong consumer culture, which has contributed to the growth of the market. In addition, the increasing urbanization and busy lifestyles of consumers have led to a higher demand for convenience and on-the-go beverages. Furthermore, the North American market is characterized by a large population of young consumers who are more willing to experiment with new flavors and brands. In conclusion, the Soft Drinks market in North America is experiencing growth due to changing customer preferences, including a shift towards healthier options and a demand for craft and artisanal beverages. The market is also driven by trends such as the popularity of RTD beverages and the need for innovation and product differentiation. Additionally, macroeconomic factors such as high disposable income and urbanization contribute to the growth of the market.

Data coverage:

The data encompasses B2C enterprises. The at-home market covers retail sales via super- and hypermarkets, eCommerce, convenience stores, or similar sales channels. The out-of-home data encompasses all sales to hotels, restaurants, catering, cafés, bars, and similar hospitality service establishments. Combined numbers encompass both the at-home market and the out-of-home market. Both the at-home and the out-of-home market are valued at retail selling prices including all sales and consumption taxes.

Modeling approach:

Market sizes are determined through a Top-Down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending (e.g. consumer spending on Non-Alcoholic Drinks, consumer spending at Hotels, Restaurants etc.), and price level index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Non-Alcoholic Drinks market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.