The carbonated soft drinks segment had the largest revenue share in 2024, mainly due to its popularity, variety of flavors, and strong marketing presence. Major companies invested heavily in marketing and distribution, making these drinks widely available and appealing to many consumers. Innovations like low-calorie, sugar-free, and functional beverages attracted health-conscious buyers, while easy access through retail channels supported the continued demand for carbonated drinks. The carbonated sports and energy drinks segment is predicted to grow the fastest because of rising consumer interest in functional hydration products. As health awareness increases, people with active lifestyles are looking for drinks that provide hydration, energy, and performance benefits. New product formulations with lower sugar and added vitamins are expected to drive this growth.

The cola flavor segment secured the largest revenue share in 2024, attributed to its longstanding popularity and brand loyalty. Major brands like Coca-Cola and Pepsi have maintained market dominance through continuous innovation and effective marketing strategies. The cola's unique flavor, along with strong global distribution and advertising, has made it a preferred choice for many. Additionally, partnerships with fast food chains and widespread availability have further solidified its market position. On the other hand, the fruit-based flavors segment is expected to grow the fastest due to increasing consumer demand for healthier options. As consumers become more health-conscious, they are leaning toward beverages that offer taste and wellness benefits, which has led to a higher demand for fruit-flavored carbonated drinks.

The hypermarkets and supermarkets segment achieved the largest revenue share in 2024 due to diverse product offerings, competitive pricing, and convenience. These stores provide consumers with easy access to a variety of carbonated beverages and attract price-sensitive customers through promotions and bulk buying. Conversely, the online stores and direct-to-consumer (D2C) segment is expected to show the most growth, driven by the shift toward e-commerce and the consumer preference for convenience. Online platforms offer a range of beverages, including niche options, while improving customer interaction and pricing through D2C models. Home delivery services are catering to the demand for convenience, further increasing the potential for sales growth in this segment.

The market for carbonated beverages in North America accounted for the biggest share in 2024, driven by the growing demand for sparkling water, which is valued for its low calorie content and refreshing properties. Consumers in this region are increasingly leaning towards healthier alternatives, resulting in a growing interest in fruit-based, exotic, and craft-flavored carbonated drinks. Additionally, the industry is expanding due to consumer demand for distinctive and potent flavours, such as those found in exotic fruits and handcrafted blends. These trends indicate a wider consumer inclination towards innovative, flavorful, and health-conscious carbonated beverages, thereby enhancing the overall market size.

Prominent companies in the carbonated beverages sector include PepsiCo, Refresco Group, SodaStream Inc, Anadolu Group, Danone, and JONES. PepsiCo offers a varied portfolio of beverages, snacks, and nutrition products, featuring well-known brands such as Pepsi, Mountain Dew, Gatorade, Lay’s, Tropicana, and Quaker. Its products are designed to meet a broad spectrum of consumer preferences worldwide.