Global Craft Soda Market - 2023-2030

Global Craft Soda Market - 2023-2030

Global Craft Soda Market reached US$ 683.2 million in 2022 and is expected to reach US$ 1,024.8 million by 2030 and is expected to grow with a CAGR of 5.2% during the forecast period 2023-2030. A prominent trend in the craft soda market is the increasing demand for premium and exotic ingredients. Consumers are increasingly drawn to craft sodas that offer unique and adventurous flavors, often inspired by global cuisines and local delicacies.

The craft soda market is experiencing robust growth, driven by consumers' changing preferences for unique and artisanal beverages. This market offers a wide array of handcrafted sodas, catering to diverse taste preferences and dietary requirements, such as organic and low-sugar options. As consumers seek authenticity and new taste experiences, craft soda brands continue to innovate with exotic ingredients and creative flavors.

The growing preference for beverages with natural and clean labels is a significant driver in the craft soda market. As consumers become more health-conscious and seek transparency in their food and beverage choices, they are drawn to craft sodas made with recognizable, natural ingredients and free from artificial additives. Sunshine craft soda co. experienced a notable increase in sales after reformulating their craft soda recipes to eliminate artificial colors and flavors.

Market Dynamics
Flavor Innovation and Customization are Driving the Growth of the Market
The craft soda market is driven by continuous flavor innovation and the ability to offer personalized beverage experiences. Craft soda brands are constantly experimenting with unique flavor combinations, drawing inspiration from diverse cultural influences, seasonal fruits, and botanicals. By introducing new and exciting flavors regularly, these brands keep consumers engaged and eager to try something different.

Additionally, the option to customize craft sodas, allowing consumers to mix and match flavors or create their blends, has become a compelling selling point. This level of customization creates a sense of ownership and adventure, fostering brand loyalty and driving repeat purchases. TasteCrafters, a leading craft soda brand, offers a Create Your Blend feature on its website, where customers can select their preferred soda base and mix it with a variety of natural flavors to craft their unique beverages.

Food Pairing and Culinary Collaborations Propels Craft Soda Market Growth
The adaptability of craft soda in food pairings and culinary collaborations has fuelled its global expansion. Craft soda companies are collaborating with restaurants, cafés, and culinary venues to develop unique soda pairings that match a variety of meals and cuisines. Craft sodas have evolved from independent beverages to sophisticated accompaniments that improve dining experiences as a result of this trend.

Furthermore, craft soda companies are exploring collaborations with chefs and mixologists to develop limited-edition sodas that are specifically made for certain menus or events, boosting excitement and establishing a sense of exclusivity among customers. Artisan Bubbles worked with a renowned chef to create a line of craft sodas filled with fragrant herbs and spices to complement the restaurant's tasting menu.

Craft Soda Market Faces Distribution Hurdles in Spite of Growing Demand for Artisanal Beverages
One significant restraint in the craft soda market is the limited market penetration and distribution challenges faced by craft soda brands. Unlike mainstream soda brands with established distribution networks and widespread availability, craft sodas often struggle to reach a broader consumer base. The lack of visibility in conventional retail channels and limited access to large-scale distribution can hinder their growth potential.

Craft soda companies might find it challenging to compete with larger beverage companies, which can afford significant shelf space in supermarkets and convenience stores. Additionally, distribution logistics and costs can be prohibitive for smaller craft soda producers, preventing them from reaching distant or international markets effectively.

COVID-19 Impact Analysis
The COVID-19 Analysis includes Pre-COVID Scenario, COVID Scenario, and Post-COVID Scenario along with Pricing Dynamics (Including pricing change during and post-pandemic comparing it to pre-COVID scenarios), Demand-Supply Spectrum (Shift in demand and supply owing to trading restrictions, lockdown, and subsequent issues), Government Initiatives (Initiatives to revive market, sector or Industry by Government Bodies) and Manufacturers Strategic Initiatives (What manufacturers did to mitigate the COVID issues will be covered here).

Segment Analysis
The global craft soda market has been segmented by product type, target consumer, flavor, and region.

Organic Craft Soda Gains Traction as Health-Conscious Consumers Seek Natural and Sustainable Beverage Choices
Organic craft soda represents a growing segment in the market, accounting for approximately 20% of the total market share. This type of soda is distinctively crafted using natural ingredients and produced in smaller batches, falling under the categories of artisanal soda, small-batch soda, and handcrafted soda. Manufacturers of organic craft soda place a strong emphasis on sourcing high-quality, organic ingredients, free from synthetic additives and artificial flavors.

Organic craft soda caters to health-conscious consumers seeking beverages that align with their desire for cleaner and more natural products. By offering a healthier alternative to conventional sodas, organic craft soda is gaining popularity, and its market share is steadily increasing. As consumer demand for organic and natural products continues to rise, manufacturers are investing in product innovation and marketing strategies to tap into this growing segment and capitalize on the shift towards more sustainable and health-oriented choices.

Geographical Analysis
Asia-Pacific Emerges as a Growing Force in the Craft Soda Market
By region, the global craft soda market is segmented into North America, South America, Europe, Asia-Pacific, Middle-east, and Africa.

The craft soda market size in the Asia-Pacific region is witnessing significant growth, driven by increasing consumer interest in unique and artisanal beverage options. The market encompasses a wide range of craft soda products, including flavored soda, soda syrups, soda concentrates, cane sugar soda, and organic soda. These beverages are crafted with care, using natural ingredients and creative flavors to cater to diverse consumer preferences.

As the demand for craft soda continues to rise, the craft soda market size in the Asia-Pacific region is expanding steadily. Artisanal soda manufacturers are focusing on product innovation, branding, and distribution strategies to capture a larger market share. Consumers' desire for healthier alternatives and experiences that go beyond conventional sodas is fuelling the growth of the market.

Competitive Landscape
The major global players in the market include Brix Soda Co., Jones Soda Co., Reed’s Inc., Boylan Bottling Co., Appalachian Brewing Co., SIPP eco beverage Co., Crooked Beverage Co., Bruce Cost Ginger Ale., The Original Craft Soda Company, and Boylan Bottling Co.

Why Purchase the Report?
• To visualize the global craft soda market segmentation based on type, target consumer, flavor, and region, as well as understand key commercial assets and players.
• Identify commercial opportunities in the market by analyzing trends and co-development.
• Excel data sheet with numerous data points of craft soda market-level with all segments.
• The PDF report consists of a cogently put-together market analysis after exhaustive qualitative interviews and an in-depth market study.
• Product mapping is available as Excel consists of key products of all the major market players.
The global craft soda market report would provide approximately 61 tables, 57 figures, and 190 pages.

Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies