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Craft Soda Market Size, Industry Analysis Report By Type (Nature, Organic), By Target Consumer (teenagers, young adults, middle-aged, adults), By Distribution Channel (Supermarkets and Hypermarkets, food service, drinking places, convenience and specialty stores, online stores), By Packaging Type (Bottles, Cans) & Region – Forecast

  • PUBLISHED ON
  • 06/12/2022
  • NO OF PAGES
  • 223
  • CATEGORY
  • Food & Beverages
The Global Craft Soda Market: Overview
The Global Craft Soda Market is valued at around USD 596.54 million in 2022 and is expected to reach USD 733.30 million by 2030, registering a CAGR of 3.5% over the forecast period. The word ""craft"" is frequently used to describe a skill-intensive activity, such as manufacturing something by hand. Craft soda is a particular variety of soda water drink that includes carbon dioxide in addition to juices from various fruits and vegetables, alcohol, sweeteners, and other combinations. Craft soda is a flavour-infused carbonated beverage that is typically categorised as a soft drink. Craft soda mostly uses flavourings that aren't found in regular soft drinks in an effort to appeal to a sizable audience of customers looking for alternatives. In recent years, the craft soda market has grown quickly, with private labels and regional suppliers controlling the global market. Throughout the projected period, the craft soda market is anticipated to grow significantly.

The Global Craft Soda Market - Growth Factor
The market for craft soda is expanding because to rising health concerns and a growing tendency among young adults for unique beverages as a result of the healthy lifestyle trends. Consumers now favour beverages that offer added health benefits. Consumer demand for functional and nutritional beverages is growing, and this trend is permeating the beverage industry. As consumers' awareness of their health increases, they are keen to try out healthier versions of typical soft drinks. Particularly among consumers seeking goods that are beneficial to their health but expensive in terms of sugar content, enhanced craft soda is gaining market share.

The Global Craft Soda Market – Market Trends
• The value of the craft soda industry will continue to rise as a result of better distribution systems, rising demand for natural and organic beverages, and an increase in the number of fat and overweight people.
• Craft soda industry expansion will also be facilitated by manufacturers' increasing attention on creative packaging solutions.
• However, the market for craft soda will face significant obstacles from rising environmental awareness in society.
• Alternative products on the market will further limit the potential for growth of the craft soda sector. The demand and supply of craft soda have also been negatively impacted by fluctuating packaging material prices and fierce vendor competition.

The Global Craft Soda Market – Segmentation
The Global Craft Soda Market fragrance concentrates market has been sub-classified into type, target consumer, distribution channel, packaging type.

On the basis of type, the Global Craft Soda Market is bifurcated into:
• Nature
• Organic
• others

On the basis of target consumer, the market is segmented into:
• teenagers
• young adults
• middle-aged
• adults
• others

On the basis of distribution channel, the market segmented into:
• supermarkets and hypermarkets
• food service
• drinking places
• convenience and specialty stores
• online stores
• others

On the basis of packaging type, the market segmented into:
• Bottles
• Cans
• others

The Global Craft Soda Market –Regional Analysis
North America dominated the global Craft Soda Market, due to increased health concerns, expanding awareness, and high market penetration, the walnut ingredients market will continue to dominate during the projection period. Another significant aspect promoting market expansion in this area is the high obesity prevalence. However, due to expanding urbanisation, westernisation, changing lifestyles, and rising personal disposable income, Asia-Pacific will forecast the highest CAGR. Growing consumer preference for low-sugar or low-calorie beverages as well as an increasing number of young people will also produce profitable and rewarding market expansion chances.

The Global Craft Soda Market – Key Market players
Global key players of Global Craft Soda Market include Reeds inc., PepsiCo, JONES SODA CO., Celeste Cathryn Digital, Appalachian Brewing Company, BOYLAN BOTTLING, crookedbevco, THE COCA-COLA COMPANY, Q Tonic, LLC, TUXEN BREWING COMPANY, Keurig Dr Pepper, Inc., , Brix Soda Co, BUCKSNORT SODA COMPANY. ltd., Batch Craft Soda, Bai, Excel Bottling Company, DRY Soda Company, Peak Drive Beverages, and Five Star Beverages among other domestic and global players.

Report Scope
Global Craft Soda Market: Historical Years- 2018-2021
Global Craft Soda Market: Forecast Years- 2022-2030
Global Craft Soda Market 2022- USD 596.54 million
Global Craft Soda Market 2030- USD 733.30 million
Global Craft Soda Market CAGR- 3.5%

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Case Study- Automotive Sector

One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached We Market Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).

Solution

The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research

The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.

Market Estimates and Forecast

In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.

Case Study- ICT Sector

Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.


Business Solution

An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.


Conclusion

The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2033.

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