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Diet Soft Drinks Market Size, Share, 2025 | Industry Analysis Report

Diet Soft Drinks Market Analysis Report By Distribution Channel, By Region And Segment Forecasts From 2019 To 2025

Report ID: MN17619690  |  Published: May 2020  |  No of Pages: 80
Format: Electronic (PDF)  |  Industry: Consumer Goods  |  Publisher: Grand View Research

Industry Insights

The global diet soft drinks market size was accounted for USD 4.1 billion in 2018. There was significant increase in the demand for diet drinks owing to changing food habits of consumers as they prefer nutritive alternatives to high calorie beverages. Increasing health concerns over wellness and obesity have ensued a change in preference of consumer towards diet beverages, thus, positively affecting the product demand.

With an aim to gain a larger share in the market, key competitors like Coco Cola and PepsiCo have been concentrating on introducing low sugar and healthy soft drinks. To capture a larger health conscious group of consumers, several companies have started producing diet variants of their soft drink products in different flavors. For example, Coco Cola had introduced Diet Coke in several flavors and sugar-free beverages in the untapped markets like New Zealand. Another company named Keurig Dr Pepper Inc. also offers a wide range of diet soft drinks like Sunkist Soda diet in orange flavor, Diet Rite and Canada Dry diet ginger ale.

U.S. diet soft drinks market

The international market of diet soft drinks is majorly driven by increasing consumption for diet soft drinks like Coke and Pepsi. Companies have increased the production of their diet or low-calorie soft drinks to meet the demand during the summer season in India. The production of Pepsi and diet coke have been unable to meet the high demand of the market, due to which low sugar colas have occupied a considerable share in the retail outlets. To cater a large consumer base shifting their preference to low calorie soft drinks, the companies have been working on introducing diet variants of Sprite and Thumsup.

Increase in demand for diet variants of carbonated drinks as an addition while having food is anticipated to boost the production of these products. Further, the trend of eating healthy and clean has affected the beverage and food industry, where the manufacturers are concentrating on introducing products with minimum or no artificial flavors. For example, Coke had lofted Coke Life in Argentina that has stevia as an additive.

Distribution Channel Insights

Diet soft drinks are mostly purchased from general merchandisers and supermarkets. Supermarkets generated USD 1.4 billion revenue in 2018. Availability of a large variety of products and comparison between different varieties with respect to product details is driving the growth of this segment. Further, growth of the organized retail sector and exclusive discounts offered by the major players in the market is propelling the product demand.

The online channel of distribution is anticipated to grow at the fastest CAGR of 3.8% in the forecast period. Increasing number of e-commerce sites and rising use of smartphones in day-to-day life is driving the growth of this segment. Companies such as grofers.com and bigbasket.com are providing door-to-door delivery along with availability of a huge variety of products and exclusive offers and discounts on them. This factor is further anticipated to supplement the growth of diet soft drink market.

Regional Insights

North America accounted for USD 1.4 billion of revenue in 2018 and thereby, dominated the market. The upsurge in revenue was due to increasing consumption of soft drinks in day-to-day life of consumers in the U.S. especially belonging to 15-20 years age group. Additionally, many new companies were focusing on capturing the new segments of the market with their premium range of products that included special flavors in drinks having nutritional and health benefits, with the aim of targeting consumers with higher purchasing power.

Global Diet Soft Drinks market

Asia Pacific is anticipated to grow at a CAGR of over 3.8% in the forecast period. The region offers lucrative opportunities for latest segments like non-alcoholic beverages and convenience food, as emerging economies like India and China are adapting the western lifestyle and culture that enables consumers to be conscious about their health in day-to-day life. Further, increasing population of working women is shaping them to be economically independent, thereby, setting up opportunities for beverages and convenience food. These factors are projected to proliferate the demand for diet soft drinks in the upcoming years.

Diet Soft Drinks Market Share Insights

Many companies are focusing on producing new products with respect to changing consumer preferences for healthier alternatives with an aim to acquire a greater share in the market. Thus, this factor is anticipated to boost the demand for diet soft drinks in the upcoming years. The major players in the market include PepsiCo; Nestlé; Cott Corporation; Coca Cola;Polar Beverages; Keurig Dr Pepper, Inc.; and Unilever.

Report Scope

Attribute

Details

Base year for estimation

2018

Actual estimates/Historical data

2015 - 2017

Forecast period

2019 - 2025

Market representation

Revenue in USD Million & CAGR from 2019 to 2025

Regional scope

North America, Europe, Asia Pacific, Central & South America, Middle East & Africa

Report coverage        

Revenue forecast, company share, competitive landscape, growth factors and trends

Country Scope

U.S.,U.K., Germany, India, Australia and Brazil

15% free customization scope (equivalent to 5 analyst working days)

If you need specific information, which is not currently within the scope of the report, we will provide it to you as a part of customization


Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of latest industry trends in each of the sub-segments from 2015 to 2025. For the purpose of this study, Million Insights has segmented the global diet soft drinks market report based on distribution channel and region:

• Distribution Channel Outlook (Revenue, USD Million, 2015 - 2025)
    • Supermarkets & General Merchandisers
    • Convenience Stores
    • Food Service & Drinking Places
    • Online

• Regional Outlook (Revenue, USD Million, 2015 - 2025)
    • North America
        • U.S.
    • Europe
        • Germany
        • U.K.
    • Asia Pacific
        • India
        • Australia
    • Central & South America
        • Brazil
    • Middle East & Africa

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