February, 2023/MRFR Press Release/- Market Research Future has published a report on the global craft soda market.
Craft sodas are specialty drinks which are manufactured in small batches. They contain all-natural ingredients with variation in natural flavors such as root beer, ginger ale, and crème soda; fruit varieties like orange and cherry; and include natural sweeteners such as pure cane sugar, honey, and stevia, among others. They are mainly available in bottles and cans across the globe.
The global craft soda market has been segregated, by category, into conventional and organic. The conventional segment is expected to dominate the global craft soda market during the assessment period. However, the organic segment is expected to grow at a higher CAGR during the forecast period owing to the rising preference of consumers for organic products. The awareness towards the benefits of organic products is expected to drive the growth of the segment.
The global craft soda market has been segregated, by packaging type, into bottles and cans. The bottles segment is expected to dominate the global craft soda market during the assessment period. However, the cans segment is expected to grow at the highest CAGR during the forecast period owing to its on-the-go convenience.
The global market for craft soda has also been classified, by distribution channel, as store-based and non-store based; with store-based segment being sub divided to supermarkets & hypermarkets, convenience stores, and others. The store-based segment is expected to dominate the market wherein supermarkets & hypermarkets are expected to hold a prominent share. However, the convenience store segment is expected to register the highest CAGR during the forecast period. The convenience stores are expanding their range of beverages in the shelves which is expected to boost the growth of this segment.
On the basis of region, the global craft soda market has been segmented by North America, Europe, Asia-Pacific, and RoW. North America is expected to dominate the global craft soda market. Also, the growing demand for organic craft soda in the US is projected to further assist the growth of the market in this region. Europe is also estimated to hold a prominent share in the global craft soda market with growing demand for craft beverages.
The craft soda market in Asia-Pacific is expected to grow rapidly with growing preference for flavored carbonated drinks among the consumers. Emerging markets such as China, India, and Australia are projected to majorly contribute to the growth of the craft soda market in this region. Manufacturers have a high growth potential in these regions to penetrate their products in the untapped markets.
Some of the key players in the global craft soda market are Dr Pepper Snapple Group, Inc (US), Appalachian Brewing Company (US), Peak Drive Beverages (Canada), Cannonborough Beverage Co. (US), Five Star Soda (US), Brix Soda Company (US), Phillips Soda Works (Canada), Bucksnort Soda Company ltd. (US), Tuxen Brewing Company (Denmark), Batch Craft Soda (US)