• Strong value growth in functional beverages in 2024 highlights demand for health-focused products, led by energy drinks, powder concentrates and sports drinks
• Total global litre volume grows by just 3%, reflecting weaker consumption and higher prices in North America and Europe
• 7% growth in reduced sugar carbonated soft drinks demonstrates continued interest in low-calorie options
• Top five global suppliers have lost nearly 3pp in retail volume share, dropping from 29% to 26% between 2019 and 2024, as consumers increasingly prefer affordable local brands and private labels.

Global soft drinks total value sales have grown by 21% between 2019 and 2024. Growth is being driven by higher unit prices and changing consumer preferences, including demand for functional beverages and sustainable choices, creating significant opportunities for brands worldwide.

The World Market for Soft Drinks 2025 report by Euromonitor International highlights the pivotal role of innovation in driving growth across the market. Shifts towards wellness-focused, calorie-conscious products and environmentally responsible packaging are reshaping industry strategies as companies adapt to evolving consumer needs.

Howard Telford, head of soft drinks research at Euromonitor International, said: “The global soft drinks industry faces a strategic shift in 2025, with emerging markets driving volume, while mature markets focus on functionality and premium health benefits to sustain growth.”

Functional drinks boost growth globally

Wellness trends spurred an increase in functional drink sales in 2024, led by 8% value growth for energy drinks and powder concentrates (primarily electrolyte powders) and 6% value growth for sports drinks. Products with wellness-enhancing ingredients such as vitamins and adaptogens have enabled companies to seize opportunities in a competitive market. Reduced sugar carbonated soft drinks also saw global sales rise by 7%, reflecting consumer interest in healthier, calorie-conscious options.

Sustainability drives bottled water growth by USD322 billion

Bottled water total value sales rose to USD322 billion in 2024, driven by consumer desire for environmentally responsible products, particularly those with recyclable or reusable packaging.

Telford added: "Sustainability is proving to be both a responsibility and an opportunity for growth as brands innovate to meet consumer expectations. Health concerns over packaging materials -especially microplastics - are creating new demand for safer, non-toxic and sustainable beverage packaging.”

Global top five suppliers lost almost 3 points of retail volume share since 2019

Emerging markets have shown particular potential for locally positioned, value-priced brands and private label, which have gained volume share in key categories. These brands address affordability needs while presenting significant growth opportunities in evolving markets.

Future growth areas include direct-to-consumer channels, advanced packaging solutions, and wellness-driven innovations, as the global soft drinks sector continues to adapt and expand.

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