Craft Soda Market Overview:
The global craft soda market is expected to register a CAGR of 3.90% from 2023 to 2032. There is a rapidly growing global demand for craft sodas.
Many in the industry refer to craft soda as ‘small batch’ soda. Craft soda is made from all-natural ingredients like honey and natural sweeteners. It’s created in small quantities to ensure quality control.
They tend to be marketed in packs of four. Therefore, their packaging and branding are different. These types of sodas tend to be more expensive than regular sodas. Their prices are often marked up by up to 300%.
Craft Soda Market size was valued at US$ 0.57145 billion in 2023 and the total Craft Soda revenue is expected to grow at 3.90% through 2023 to 2032, reaching nearly US$ 0.7760 billion by 2032.
Many people are health conscious now. They find that drinking alcoholic or regular sodas makes them gain weight and is bad for their health in general. They prefer craft sodas since they are lower in calories and contain less refined sugar.
Many nutrition professionals favor and promote craft sodas, leading to their growing global popularity. They also come in innovative and unique flavors and packaging and have a solid local presence,
Many people are also buying more gourmet food and meals, and they find that craft soda is the perfect accompaniment to these.
There are challenges and restraints, though. Two restraints are the availability of popular alternatives with a lower price point. Stringent government regulations also matter. The silver lining, though, is that more stringent government rules, regulations, and guidelines for using artificial ingredients in beverages, along with how they are labeled and packaged, could serve as a future growth driver.
Segment overview:
By category:
The global craft soda market can be grouped into conventional and organic based on category.
By distribution channel:
The global craft soda market can be grouped into store-based and non-store-based by distribution channel.
By store:
The global craft soda market can be grouped into supermarkets, hypermarkets, convenience stores, and others.
By region:
The global craft soda market can be grouped into North America, the European Union, Asia-Pacific, South America, and the Middle East and Africa.
Regional analysis:
The North American region is expected to enjoy the largest market share for the forecast period. Many people in this region consume various types of sodas regularly. Therefore, the demand for craft sodas is high.
The United States of America is expected to register the highest CAGR in the North American region. The reason is that many Americans want to buy and consume these types of drinks.
The European Union is also expected to command a significant market share for the forecast period. Many Europeans view craft sodas as a healthy alternative to the traditional alcoholic beverages that have been consumed in this region.
The Asia-Pacific region is expected to register the highest regional CAGR for the forecast period. More people in this region are joining the wealthier middle classes, becoming health conscious. Also, more people in this region are aware of the benefits of craft sodas.
Key Players
As per MRFR the Global Key Craft Soda Market Players 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)
Industry News:
BrewDog is a Sottish company that brews drinks. It’s planning to make craft sodas. Its brand is P.O.P sodas, and these will come in four different flavors.
Reed’s Inc is a major American ginger brewer. It’s also planning to enter the craft sodas market.
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