U.S.: Soft Drink Market 2024

Soft Drink Market Size in the U.S.

In 2021, after two years of decline, there was growth in the U.S. soft drink market, when its value increased by 0.4% to $X. In general, consumption showed a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2015 to 2021, the growth of the market failed to regain momentum.

Soft Drink Production in the U.S.

In value terms, soft drink production totaled $X in 2021. Over the period under review, production continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when the production volume increased by 4.7% against the previous year. Over the period under review, production attained the peak level at $X in 2014; however, from 2015 to 2021, production stood at a somewhat lower figure.

Soft Drink Exports

Exports from the U.S.

In 2021, overseas shipments of soft drinks were finally on the rise to reach X litres after six years of decline. In general, exports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 with an increase of 23%. As a result, the exports attained the peak of X litres. From 2015 to 2021, the growth of the exports failed to regain momentum.

In value terms, soft drink exports expanded rapidly to $X in 2021. The total export value increased at an average annual rate of +3.2% from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2013 with an increase of 11%. The exports peaked in 2021 and are expected to retain growth in the near future.

Exports by Country

Canada (X litres) was the main destination for soft drink exports from the United States, accounting for a 52% share of total exports. Moreover, soft drink exports to Canada exceeded the volume sent to the second major destination, Mexico (X litres), fourfold. The third position in this ranking was held by Vietnam (X litres), with a 1.9% share.

From 2012 to 2021, the average annual growth rate of volume to Canada was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (+9.0% per year) and Vietnam (+23.1% per year).

In value terms, Canada ($X) remains the key foreign market for soft drink exports from the United States, comprising 53% of total exports. The second position in the ranking was taken by Mexico ($X), with an 11% share of total exports. It was followed by Vietnam, with a 4.7% share.

From 2012 to 2021, the average annual growth rate of value to Canada totaled +2.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (+6.8% per year) and Vietnam (+25.1% per year).

Export Prices by Country

In 2021, the average soft drink export price amounted to $X per litre, surging by 2.6% against the previous year. Over the last nine years, it increased at an average annual rate of +3.1%. The growth pace was the most rapid in 2015 an increase of 10% against the previous year. The export price peaked in 2021 and is likely to see gradual growth in years to come.

Prices varied noticeably country of destination: the country with the highest price was Vietnam ($X per litre), while the average price for exports to Mexico ($X per litre) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Japan (+6.5%), while the prices for the other major destinations experienced more modest paces of growth.

Soft Drink Imports

Imports into the U.S.

For the third year in a row, the United States recorded growth in supplies from abroad of soft drinks, which increased by 12% to X litres in 2021. Overall, total imports indicated strong growth from 2012 to 2021: its volume increased at an average annual rate of +6.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +22.5% against 2017 indices. The pace of growth was the most pronounced in 2015 when imports increased by 26% against the previous year. Over the period under review, imports hit record highs in 2021 and are likely to see steady growth in the immediate term.

In value terms, soft drink imports expanded significantly to $X in 2021. In general, total imports indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +6.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +73.1% against 2012 indices. The pace of growth appeared the most rapid in 2015 when imports increased by 15%. Over the period under review, imports attained the maximum in 2021 and are likely to continue growth in the near future.

Imports by Country

In 2021, Mexico (X litres) constituted the largest supplier of soft drink to the United States, accounting for a 25% share of total imports. Moreover, soft drink imports from Mexico exceeded the figures recorded by the second-largest supplier, Canada (X litres), twofold. Austria (X litres) ranked third in terms of total imports with an 11% share.

From 2012 to 2021, the average annual growth rate of volume from Mexico stood at +6.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (+5.7% per year) and Austria (+3.9% per year).

In value terms, the largest soft drink suppliers to the United States were Austria ($X), Switzerland ($X) and Mexico ($X), together accounting for 59% of total imports. Canada, the Philippines, Italy, the UK, Thailand, South Korea, the Netherlands, France, Taiwan (Chinese) and Brazil lagged somewhat behind, together accounting for a further 31%.

Among the main suppliers, the Netherlands, with a CAGR of +36.1%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average soft drink import price amounted to $X per litre, falling by -4.8% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2014 an increase of 14%. As a result, import price reached the peak level of $X per litre. From 2015 to 2021, the average import prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Switzerland ($X per litre), while the price for France ($X per litre) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+3.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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