12th March 2019 - Global craft soda market is expected to grow at a significant CAGR in the upcoming period as the scope and its applications are rising enormously across the globe. Craft soda is a soft drink that is flavored carbonated drink is an alternative to attract consumers. The factors that are playing a major role in the growth of craft soda market are the growing concern among populace regarding obesity, the rising demand for natural sweeteners with low-calorie content, the changing lifestyle, and the high demand from youngsters. However, strict government policy and the increasing social awareness among populace may restrain the overall market growth in the years to come. The market is segmented based on product type, packaging, flavor, distribution channel, and region.
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Organic and natural craft soda are the product types that could be explored in craft soda market in the forecast period. Organic craft soda sector accounted for the substantial market share of craft soda and is estimated to lead the overall market in the years to come. The reason could be the growing health-conscious populace. Also, the natural sector is estimated to grow at the fastest pace in the years to come.
Cans, glass, pouches, and P.E.T are the packaging types that could be explored in craft soda market in the forecast period. Glass sector accounted for the substantial market share of craft soda and is estimated to continue its dominance in the years to come.
Based on the flavors, tropical fruits, root beer, passion fruit, orange, and others could classify the market in the forecast period. Root beer and orange sectors are estimated to account for the majority share of the market and are estimated to lead the overall market in the years to come.
Based on the distribution channel, online stores, supermarkets & hypermarkets, convenience & specialty stores, food service & drinking places, and others could classify craft soda in the forecast period. Supermarket & hypermarket sector accounted for the substantial share of craft soda industry and is estimated to continue its dominance in the years to come. In addition, food service & drinking places sector is estimated to grow at the fastest pace in the years to come.
Globally, North America accounted for the substantial share of the market and is estimated to lead the overall market in the years to come. The reason behind the overall market growth could be the growing number of mainstream retailers, the high demand for healthy drinks, and increasing disposable income and health concern. The United States is a major consumer of craft soda in this region.
Europe and the Asia Pacific are also estimated to have a positive influence on future growth. Europe is the second largest region with significant market share. However, Asia Pacific is estimated to grow at the highest CAGR in the forecast period. The developing countries like India and China are the major consumers of craft soda in this region.
The key players of craft soda market are The Original Craft Soda Company, Jones Soda Co., Crooked Beverage Co., Reed’s Inc., SIPP eco beverage co. Inc., Appalachian Brewing Co., The Coca-Cola Company, Boylan Bottling Co., PepsiCo, Inc., and Wild Poppy Company. These players are concentrating on inorganic growth to sustain themselves amidst fierce competition.
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