Craft Soda Market Size was valued at USD 0.55 billion in 2022. The Craft Soda market industry is projected to grow from USD 0.57145 billion in 2023 to USD 0.7760 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 3.90% during the forecast period (2023 - 2032). The increased health-conscious population and growing popularity of crafted beverages are the key market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Growing demand for healthy hydration products positively impacts market CAGR. Consumers are inclined towards health-oriented beverages such as craft soda and other functional drinks. Rising awareness among consumers about the health benefits of low-calorie drinks, which are manufactured with natural ingredients, is the key factor projected to drive the demand for healthy hydration drinks, which is anticipated to drive the overall market's growth during the forecast period.
Additionally, the rising prevalence of cardiovascular disease, arthritis, diabetes, etc., coupled with increasing demand for healthy beverages and changing lifestyles, is the major driver for the growth. Additionally, diabetic patients are more aware of the importance of healthy diets, and because of this, they prefer beverages with natural sweeteners such as stevia. Companies like Pepsico Inc. and Coca-Cola are trying to reduce the sugar quantity in their products. Pepsico has also launched the 'Craft' soda brand worldwide, selling craft soda bottles in five flavors. Each craft soda bottle contains 90-100 calories and is sweetened with stevia and sugar cane. These factors drive the Craft Soda market revenue.
Based on category, the Craft Soda market segmentation includes conventional and organic. The conventional segment dominated the market due to craft soda products being more widely available and having a lower price point than organic craft soda products. Conventional craft soda products are made with artificial flavors and sweeteners, which are less expensive and allow for longer shelf life.
Based on packaging type, the Craft Soda market segmentation includes bottles, cans, and others. The bottle segment dominated the market. Bottles assist in preserving the carbon dioxide concentration in craft soda for a longer time, guaranteeing that the flavor and quality of the product are not harmed. Bottles come with attractive packaging and are handy, resulting in consumer preference and comfort. In addition, key companies operating in the market are launching new products with innovative packaging combining new arts, styles, and logos, thus attracting new consumers toward craft soda sold in glass bottles.
They can use packaging segment is expected to grow at a significant CAGR over the forecast period. This is because of the rising focus on sustainable packaging and the emergence of additional small-scale independent brewers. Moreover, the widespread availability and low costs of cans in grocery shops and mass merchandisers will support the segment's growth. Increased use of aluminum cans has resulted in a rise in worldwide beverage consumption and a spike in demand for sustainable packaging options.
The Craft Soda market segmentation, based on distribution channels, includes store-based and Non- store based channels. The store-based distribution channel category generated the most income. This is due to Consumer preference because it is easier for consumers to find and purchase craft soda products from the store-based channel. It provides a wide range of variety.
Figure1: Craft Soda Market, by Distribution Channel, 2022 & 2032 (USD billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
By Region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The Asia-Pacific Craft Soda Market area will dominate this market due to the health-conscious population. Crafted beverages' growing popularity will boost the Region's market growth. Moreover, China’s Craft Soda market held the largest market share, and the Indian Craft Soda market was the fastest-growing market in the Asia-Pacific region.
Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure2: CRAFT SODA MARKET SHARE BY REGION 2022 (%)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Europe's Craft Soda market accounts for the second-largest market share due to the Increasing demand for various craft sodas from these regions, which is anticipated to drive the regional market. Further, the German Craft Soda market held the largest market share, and the UK Craft Sodamarket was the fastest-growing market in the European Region.
North America is expected to grow at the fastest CAGR from 2023 to 2032. Owing to an increase in the number of mainstream retailers, coupled with increasing health concerns and shifting preferences toward healthy drinks.
Leading market players are investing heavily in research and development to expand their product lines, which will help the craft soda market grow even more. Market participants are also undertaking various strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. The craft soda industry must offer cost-effective items to expand and survive in a more competitive and rising market climate.
Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers use in the Craft Soda industry to benefit clients and increase the market sector. In recent years, the Craft Soda industry has offered some of the most significant advantages to medicine. Major players in the Craft Soda market, including 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)., and others, are attempting to increase market demand by investing in research and development operations.
BrewDog is a multinational brewery and pub chain based in Ellon, Scotland. With the production of over 800,000 hectolitres, BrewDog claims to be the "#1 Craft Brewer in Europe". It was founded in 2007 by James Watt and Martin Dickie, who own 46% of the company.BrewDog, the Scottish craft brewer, plans to enter the soft drinks segment by introducing its latest P.O.P. Soda line. The new line contains four flavors: Jagged Grapefruit, Dark Cherry, Hazy Lemon, and Citizen Cola. P.O.P Soda is a pop soda developed to accelerate the brand's contribution to the battle against climate change.
Reed's Inc. is a US-based company that manufactures soft drinks and candies. The company was founded by Christopher J. Reed in 1989. It was originally based in Los Angeles, California, but moved its headquarters to Norwalk, Connecticut, in September 2018. Reed's Inc., America's top ginger brand, launches REAL Cranberry Ginger Ale for Costco members. Expected to be launched in the holiday season, Reed's REAL Cranberry Ginger Ale has cranberry and the company's Real Ginger Ale. All-natural and non-GMO, the non-alcoholic sparkling soda has organic pressed ginger, has been sweetened using cane sugar, and contains no preservatives, flavors, or artificial colors.
Craft Soda Industry Developments
February 2022: BrewDog, the Scottish craft brewer, plans to enter the soft drinks segment by introducing its latest P.O.P. Soda line. The new line contains four flavors: Jagged Grapefruit, Dark Cherry, Hazy Lemon, and Citizen Cola. P.O.P Soda is a pop soda developed to accelerate the brand's contribution to the battle against climate change.
November 2021: Reed's Inc., America's top ginger brand, launches REAL Cranberry Ginger Ale for Costco members. Expected to be launched in the holiday season, Reed's REAL Cranberry Ginger Ale has cranberry and the company's Real Ginger Ale. All-natural and non-GMO, the non-alcoholic sparkling soda has organic pressed ginger, has been sweetened using cane sugar, and contains no preservatives, flavors, or artificial colors.
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 0.55 billion |
| Market Size 2023 | USD 0.57145 billion |
| Market Size 2032 | USD 0.77607 billion |
| Compound Annual Growth Rate (CAGR) | 3.90% (2023-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Category, Packaging Type, Distribution Channel, and Region |
| Geographies Covered | North America, Europe, AsiaPacific, and the Rest of the World |
| Countries Covered | The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Â 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) |
| Key Market Opportunities | Health-conscious population |
| Key Market Dynamics | The growing popularity of crafted beverages |
Frequently Asked Questions (FAQ) :
The Craft Soda market size was valued at USD 0.55 Billion in 2022.
The market is projected to grow at a CAGR of 3.90% during the forecast period, 2023-2032.
Asia Pacific had the largest share of the market
The key players in the market areDr. 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).
The Conventional category dominated the market in 2022.
The store-based channel had the largest share of the market.
Assistant Manager - Research High acumen in analyzing complex macro & micro markets with more than 6 years of work experience in the field of market research. by implementing her analytical skills in forecasting and estimation into market research reports, she has expertise in packaging, construction, and equipment domains. she handles a team size of 20-25 resources and ensures smooth running of the projects, associated marketing activities, and client servicing.
Get in Touch
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)
