Some of the key players in the low-and no-calorie soda market such as The Coca-Cola Company, PepsiCo Inc., Dr. Pepper Snapple Group, Kirin Holdings Company Limited, Zevia, Cott Corporation, Polar Beverages and others.
The global low-and no-calorie soda market size is anticipated to grow in a steadfast manner owing to the increasing health awareness about the adverse effects of sugary beverages, shares Fortune Business Insights™ in its report, titled “Low-and No-Calorie Soda Market, 2021-2028”.
There has been an increasing demand for low-and no-calorie sodas due to the rising awareness about the long-term health effects of sugary beverages. Moreover, there is a relatively less amount of sugar or no sugar at all in such beverages, which is an important factor responsible for the growth of this market. The high content of sugar in artificial or aerated drinks can attract diseases such as diabetes, heart attack, and others. This factor is crucial in the growth of this market as the prevalence of diabetes has rapidly increased in the past few years. For example, the International Diabetes Federation (IDF) revealed that in 2019, around 463 million people worldwide had diabetes and by 2045 this number is set to reach 700 million. Hence, most people now prefer low-and no-calorie drinks due to the mounting health concerns such as obesity and other problems, which have resulted in the growth of this market.
The rising demand for freshly prepared natural fruit and vegetable juices is projected to restrict the growth of this market.
The COVID-19 pandemic has had a severe impact on all industries worldwide. The food and beverage industry is also been hugely affected due to this pandemic, mainly due to supply chain disruptions, closure of supermarkets and departmental stores, and falling demand for unhealthy foods and beverages, thereby posing challenges for manufacturers in this industry. However, with health consciousness being reinforced because of the current crisis, the demand for sugar-free beverages is likely to rise once the pandemic is over. This may benefit the low-and no-calorie soda market growth.
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On the basis of type, this market is divided into artificial sweeteners and natural sweeteners. Based on distribution channels, the market is classified into supermarkets/hypermarkets, departmental stores, online retail stores, and others. In terms of geography, the market is clubbed into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
This research report offers an in-depth study of the driving factors, restraints, and trends influencing the growth of the market. In addition, this report offers a detailed evaluation of the market segments and regional developments in the market. Further, this report also incorporates a comprehensive analysis of the strategies adopted by market players to strengthen their position.
Easy Availability of Low-and No-Calorie Soda to Propel the Market Growth
The high demand for low-and no-calorie sodas and their worldwide popularity is powered by their easy availability in the market. Distribution channels such as supermarkets, online retail stores, and others are focusing on increasing the sales of this product by offering the best price on different brands, which will help to attract more buyers, thus, resulting in the growth of this market. For instance, the UK-based company, Dalston’s, has added a new low-calorie range to its soft drinks segment that will target health-conscious customers.
Rising Public Awareness about Sugar-rich Drinks to Fuel the North America Market Growth
North America region is expected to witness strong growth in the low-and no-calorie soda market share owing to increasing public awareness of the sugar content in soft drinks and other beverages. This is considered as the main factor responsible for the market’s growth. Further, there are many initiatives that have been undertaken to reduce the consumption of sugar-sweetened beverages and also promote various health programs across this region.
The Asia Pacific region is projected to expand speedily in this market on account of the widening consumer base in countries such as India, Japan, and others. Further, due to the changing lifestyle and culture in growing Asian economies, mainly India and China, most people prefer low-calorie beverages, resulting in the growth of this market in this region.
Intensifying Competition between Key Players to Feed Market Innovation
There has been an increase in the competition among leading companies in the food and beverage industry for the manufacturing and distribution of low-and no-calorie soda. The growing intensity among these entities has contributed to a rise in the adoption of this product across different regions. More importantly, this competition is creating novel innovation opportunities for key market players, thereby enhancing the potential of this market.
October 2019: The Coca-Cola Company confirmed that it will be introducing Coca-Cola Zero Sugar with cherry and vanilla flavors in the United States in February 2020.
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List of Key Players Covered in the Low-and No-Calorie Soda Market Report:
- The Coca-Cola Company
- PepsiCo Inc.
- Pepper Snapple Group
- Kirin Holdings Company Limited
- Cott Corporation
- Polar Beverages
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