Wilmington, Delaware, Sept. 02, 2024 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, "Craft Soda Drink Market by Flavor (Cola, Root Beer, Citrus, Ginger Ale and Fruit Flavored), Packaging (Glass Bottles, Cans and Fountain), and Distribution Channel (Specialty Stores, Supermarkets/hypermarkets and Online Channels): Global Opportunity Analysis and Industry Forecast, 2024-2033". According to the report, the craft soda drink market was valued at $674.3 million in 2023, and is estimated to reach $1000.7 million by 2033, growing at a CAGR of 4.1% from 2024 to 2033.
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Prime determinants of growth
The growth of the craft soda drink market is fueled by increasing consumer demand for unique and artisanal beverages drives interest in craft sodas, which offer distinctive flavors and ingredients compared to mainstream brands. The shift towards healthier lifestyles has led to a preference for drinks made with natural, organic ingredients and lower sugar content. Additionally, the rising trend of premiumization in the beverage industry encourages consumers to seek out high-quality, innovative products. Craft sodas often emphasize authenticity and local production, appealing to consumers' desire for transparency and sustainability. Growing awareness and accessibility of craft sodas through diverse retail channels, including specialty stores and online platforms, further support market expansion.
Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2024–2033 |
| Base Year | 2023 |
| Market Size in 2023 | $674.3 Million |
| Market Size in 2033 | $1000.7 Million |
| CAGR | 4.1% |
| No. of Pages in Report | 245 |
| Segments Covered | Flavor, Packaging, Distribution Channel and Region. |
| Drivers | Consumer Preference for Natural Ingredients |
| Unique Flavors and Varieties | |
| Health Consciousness | |
| Opportunities | Adoption of sustainable packaging and production |
| Development of unique flavors | |
| Restraints | Higher Production Costs |
Segment Highlights
The demand for cola is driven by several factors. Cola is the most dominating segment in the craft soda drink market due to its strong, established popularity and broad consumer appeal. Traditional cola flavors have a long-standing presence in the beverage industry, and craft soda makers often focus on innovating within this familiar category to attract a wide audience. Craft cola brands leverage classic flavor profiles while incorporating unique, high-quality ingredients and artisanal production methods, which differentiate them from mainstream colas. This combination of nostalgic flavors with a modern twist appeals to both traditional cola drinkers and those seeking premium, handcrafted alternatives.
The demand for glass bottles is influenced by multiple factors. Glass bottles dominate the craft soda drink market due to their premium appeal and perceived quality. Glass is often associated with higher-quality and more artisanal products, enhancing the overall brand image of craft sodas. The traditional and nostalgic aesthetic of glass bottles also appeals to consumers who value authenticity and heritage, aligning with the artisanal nature of craft sodas. Additionally, glass bottles provide excellent preservation of the beverage’s taste and carbonation, maintaining the integrity of the product. They are also recyclable, appealing to environmentally conscious consumers.
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The specialty stores dominated the distribution channel segment. Specialty stores dominate the craft soda drink market due to their alignment with the artisanal and unique nature of craft beverages. These stores cater specifically to consumers seeking high-quality, niche, and premium products, offering a curated selection of craft sodas that might not be available in mainstream retail outlets. Specialty stores provide a platform for craft soda brands to showcase their distinctive flavors and unique ingredients, appealing to consumers who are willing to explore and invest in novel beverage experiences. The personalized shopping experience and knowledgeable staff in specialty stores enhance consumer engagement and education about craft sodas.
Regional Outlook
North America is the most dominating region in the craft soda drink market due to a combination of consumer preferences and market dynamics. The region has a strong culture of innovation and a growing demand for premium, artisanal products, which fuels the popularity of craft sodas. North American consumers are increasingly seeking unique, high-quality beverages with natural ingredients, aligning with the characteristics of craft sodas. The region also benefits from a well-established distribution network that includes specialty stores, artisanal markets, and online platforms, facilitating widespread availability of craft sodas. Additionally, North American craft soda brands have effectively capitalized on local trends and preferences, creating distinctive flavors and packaging that resonate with consumers. The emphasis on sustainability and authenticity in the craft soda sector also aligns with North American consumer values, further driving the market’s growth and dominance in the region.
Players: -
- Appalachian Brewing Co.
- The Coca-Cola Company
- Jones Soda Co
- Reed’s, Inc.
- PepsiCo, Inc.
- The Original Craft Soda Company
- Crooked Beverage Co.
- Boylan Bottling Co.
- Wild Poppy Company
- SIPP eco beverage co. Inc
The report provides a detailed analysis of these key players in the global craft soda drink market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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Recent Development:
- In November 2023, Jones Soda Co. announced its entry into the pet market by introducing Jones Craft Dog Soda. This move marks the expansion of the renowned craft soda brand, noted for its exceptional flavor, unique varieties, and labels featuring photos contributed by consumers.
- In July 2023, Jones Soda Co. revealed the launch of a limited-edition flavor that combines both the Jones Soda and Mary Jones trademarks. The new Hatch Chile and Lime soda will be offered from both brands this year, marking the first dual special flavor release between Jones and Mary Jones an industry first in both categories.
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