Global Diet Soft Drinks Market - 2023-2030

Global Diet Soft Drinks Market - 2023-2030

Global Diet Soft Drinks Market reached US$ 5.8 billion in 2022 and is expected to reach US$ 9.3 billion by 2030 growing with a CAGR of 6.2% during the forecast period 2023-2030. The growing consumer preferences for ready-to-drink beverages with health advantages are driving the global diet soft drinks market growth.

The demand for diet drinks has grown significantly in recent years due to shifting consumer food habits towards healthier alternatives from high-calorie beverages. The increasing health consciousness of consumers and the rising prevalence of obesity is expected to fuel the growth of the diet soft drinks market. PepsiCo has been offering Pepsi Next, a low-calorie soft drink with stevia, in France and Australia.

The key market players are introducing diet versions of their soft drink products in different flavors to attract health-conscious consumers. For instance, Keurig Dr Pepper, Inc. offers a large variety of diet soft drinks such as Canada Dry diet ginger ale, and Sunkist Soda in diet orange flavour. Similarly, Coca-Cola has introduced diet coke in several flavours and sugar-free beverages.

Market Dynamics

The Increasing Prevalence of Health Concerns Drives the Market Growth.

Most people across the world are suffering from lifestyle disorders such as diabetes and obesity. The normal soft drinks contain high sugar. This can lead to the rise of obesity in children. They may also cause an increased risk of diabetes & metabolic syndrome. For instance, the World Health Organization estimated that the number of people with diabetes rose to 537 million in 2021 and is expected to increase more by 2030.

The World Obesity Federation’s 2023 atlas predicts that 51% of the world will be obese within the next 12 years. The increase in the prevalence of these diseases increased the demand for diet soft drinks. People prefer the low-calorie or zero calorie soft drinks to avoid most of these health issues. The diet soft drinks are artificially sweetened. They don’t contain any calories. The increasing demand for low or zero calorie drinks is driving the market growth.

The Growing Demand for Ready-to-Drink Beverages Drives the Market Growth.

The ready-to-drink beverages are always popular in the market. Busy lifestyles, increased working populations, increased economic growth, and healthy intake preferences like zero-calorie products are driving the market. Many companies are introducing various sugar-free versions of existing products. For instance, the companies have been working on introducing diet versions of Thums Up and Sprite, low-sugar level drinks.

The global diet soft drinks market is primarily driven by the public's increased awareness of the benefits of consuming healthy foods and beverages, and it is becoming more popular as a fizzy drink substitute as consumers turn to healthier diets. Zero calories, various flavors, blood sugar management, and convenience drive the diet soft drinks market.

The Availability of Alternatives and High-Cost Restrains the Global Diet Soft Drinks Market Growth.

The market for diet soft drinks is experiencing growth restraints due to the rising alternatives of several brands. With the growing demand for beverages and healthy drinks, the existing brands are attracting people with several flavors and fortifications of drinks. In addition, there are many new emerging brands in the competition. People have several alternatives for their drinks. The availability of many products and replacements will restrain the still drinks market growth.

Diet soft drinks are getting more expensive. The rising cost of raw materials, packaging, and product transportation adds to expenses. The low-calorie sweeteners, including stevia, saccharin, and aspartame, are way more costlier than regular sugar. In addition, marketing and advertising expenses have also increased dramatically. As a result, the price of diet soft drinks has constantly fluctuated, increasing the expense of producing this good.

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 with 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 diet soft drinks market is segmented based on product type, end users, distribution channel, and region.

In the Global Diet Soft Drinks Market, the Zero Calorie Segment Holds the Largest Market Share.

The global diet soft drinks market has been segmented by product type into zero calorie and low calorie. The zero calorie segment held the largest nuts market share of 58.8% in 2022 in the diet soft drinks market analysis report. The increasing health consciousness among people about calorie intake drives this segment’s growth.

The zero calorie segment is growing rapidly due to the health benefits it provides. Diet soda improves the fatty liver and reduces the risk of cancer. They don’t provide any calories to the human body. The busy lifestyles have increased the prevalence of lifestyle disorders like diabetes and obesity. The zero calorie diet soft drinks are helpful in controlling the calorie intake.

Geographical Analysis

The Asia-Pacific Region Held the Largest Nuts Market Share.

The global diet soft drinks market is segmented into five parts based on geography: North America, South America, Europe, Asia-Pacific, the Middle East, and Africa. The Asia-Pacific diet soft drinks market held the largest market share of 38.6% in 2022 in the diet soft drinks market analysis. The increasing health awareness among people and their preference for healthy beverages drives this region’s market.

The growing working women population makes women economically independent, thus creating an opportunity for convenience beverage products. The increased consumption of diet soft drinks due to their healthier benefits have contributed to the higher share of the Asia-Pacific region in the diet soft drink market. The increasing disposable income and rising purchasing power in this region boost the market growth.

Competitive Landscape

The major global players in the market include The Coca-Cola Company, PepsiCo, Nestle, Unilever, Cott Corporation, Polar beverages, Sam’s Choice, Hamoud Boualem, Buffalo Rock Company, and Keurig Dr Pepper, Inc.

Global Recession/Ukraine-Russia War/COVID-19, and Artificial Intelligence Impact Analysis:

Covid-19 Impact:

The unprecedented COVID-19 pandemic in 2020 profoundly affected the beverage industry. Covid-19 has considerably impacted the global beverage supply chain phases involving diet soft drinks production, processing, distribution, and consumption due to lockdowns and restrictions imposed by various governments.

Everything has changed due to the COVID-19 epidemic. It has influenced practically every industry, whether positively or negatively. The COVID-19 pandemic's effects on world economic conditions have had an influence. They could impact interest rates, foreign exchange rates, commodities and energy prices, and the efficient operation of financial and capital markets.

The COVID-19 pandemic issue has had an impact on the beverage industry as well. The COVID-19 pandemic is upending life, and the beverage sector is seeing increased trends like diet soft drinks. The beverage businesses are launching innovative programs, including diet soft drinks, that are straightforward to consume.

Why Purchase the Report?
• To visualize the global diet soft drinks market segmentation based on product type, end users, distribution channel, and region and 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 diet soft drinks market-level with all segments.
• The PDF report includes a comprehensive 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 Diet Soft Drinks Market report would provide approximately 61 tables, 57 figures and 165 Pages.

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