The global diet soft drinks products market was valued at USD 28.1 billion in 2022 and is expected to expand at a CAGR of 8.7% from 2023 to 2030. The market is primarily driven by the rising demand for low-calorie and sugar-free beverages due to growing awareness about the ill-effects of excessive sugar consumption and the increasing prevalence of chronic diseases associated with it. Moreover, the rising trend of health consciousness has led to an increase in demand for diet soft drinks, since they are a healthier alternative to regular full-sugar drinks.

The market is witnessing a shift toward natural sweeteners such as stevia, monk fruit, and erythritol, which are gaining traction among consumers. Furthermore, the increasing demand for organic diet soft drinks is driving the market. For instance, in October 2021, PepsiCo Inc. launched ‘Organic Pepsi’, a new organic soda offering with only two ingredients, organic cane sugar, and kola nut extract. The launch is in line with the company’s strategy to reduce added sugars and calories in its beverages.

The increasing penetration of premium offerings in the market is further driving the growth of the market. For instance, in April 2021, Coca-Cola introduced a premium range of Diet Coke, named as Diet Coke Feisty Cherry and Diet Coke Ginger Lime. The new flavors are claimed to be bolder and more intense than the original Diet Coke. The launch is in line with the company’s strategy to appeal to consumers with different flavor preferences.

The increasing popularity of flavored diet soft drinks is also driving the market growth. For instance, in May 2021, PepsiCo Inc. launched ‘Pepsi Mango’, a new zero-calorie, sugar-free variant of Pepsi, to tap the growing demand for flavored drinks. The launch is aimed at capturing a larger share of the flavored drinks segment.

The rising demand for convenience is further driving the market growth. Consumers are increasingly opting for single-serve and ready-to-drink (RTD) diet soft drinks, which are easy to carry and consume anytime, anywhere. The increasing availability of these products in various sizes, formats, and flavors has made them popular among the consumers. For instance, in May 2021, Dr. Pepper Snapple Group introduced a new range of single-serve flavored soda drinks, ‘Dr. Pepper & Cream Soda’. The launch is aimed at targeting consumers looking for convenience and variety.

The diet cola segment led the market and accounted for a share of around 45.6% in 2022. The rising prevalence of obesity and health issues such as diabetes, high blood pressure, and cardiovascular diseases among the population have encouraged consumers to switch from regular soft drinks to diet soft drinks. According to an article published by the American Heart Association, in November 2018, diet sodas are a healthier alternative to sugared drinks and can help people manage their weight and reduce their risk of chronic disease.

The diet lemonade segment is anticipated to expand at the fastest CAGR of 8.3% over the forecast period. Rising demand for sugar-free beverages, rising awareness about health, and increasing disposable income are some of the key factors driving the demand for diet lemonade products. Furthermore, the growing popularity of diet lemonade brands such as Schweppes, Minute Maid, and others is also contributing to the growth of the segment.

The supermarkets and hypermarkets segment is projected to account for the largest share of over 36.9% in 2022. Supermarkets and hypermarkets are the most preferred channel for purchasing diet soft drinks due to the availability of a wide range of products from different brands. Furthermore, supermarkets and hypermarkets offer easy access to products, convenience, and discounts as compared to other channels. Moreover, the presence of in-store promotional activities such as display stands and point-of-sale materials help to attract customers and enhance product awareness.

The online segment is expected to register the highest CAGR of 14.4% during the forecast period. The increasing demand for convenience and easy access to the products has led to an increase in the number of online shoppers. The availability of discounts and offers is also a major factor driving the growth of the online segment. Moreover, the rise in the number of e-commerce websites and mobile applications is expected to further propel the growth of the segment during the forecast period.

The diet cola segment dominated the global Diet Soft Drinks market in the year 2022 with a revenue share of 35.2%. Diet colas have become popular among consumers because they contain fewer calories than regular soft drinks. This is due to their artificial sweeteners, which are substitutes for sugar. Also, the presence of ingredients such as caffeine and other stimulants in diet colas is increasing their popularity among consumers. Furthermore, the increasing trend of health-consciousness among consumers is boosting the demand for diet soft drinks.

The diet lemon-lime segment is anticipated to expand at the highest CAGR of 11.5% over the forecast period. The increasing demand for diet soft drinks due to their low calorie content is driving the market for this segment. Furthermore, the growing popularity of diet lemon-lime drinks among health-conscious individuals is boosting the demand for this segment. Manufacturers are also introducing new flavors in this segment to attract the attention of consumers. For instance, in April 2021, PepsiCo, Inc. launched its new diet lemon-lime flavor, Pepsi Zero Sugar.

North America held the largest revenue share in the diet soft drinks market in 2022, owing to the presence of leading players and their efforts to introduce innovative products. The region has witnessed a high demand for diet soft drinks and other low-calorie alternatives, owing to the growing health consciousness among individuals. The presence of established players such as PepsiCo and Coca-Cola, combined with the increasing demand are among the major factors driving the market in the region. For instance, in May 2022, PepsiCo launched a new line of low-calorie flavors called Pepsi Max Mango Chill in the U.S.

Europe is expected to be the second-largest market. Changing lifestyle and increasing health consciousness among individuals are expected to drive the demand for diet soft drinks in the region. Additionally, the presence of leading players and their efforts to introduce new products are expected to boost the market growth. For instance, in April 2022, Coca-Cola launched a limited-edition diet soft drink with a lemon-lime flavor in the UK.

In this part of the diet soft drinks products business plan, we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for your diet soft drinks products business. Usually, these projections are drafted for a 5-year period.

Revenue Assumptions

The main source of revenues for a diet soft drinks products business comes from sales of the product, as well as from advertising, sponsorships, and promotions. Additional sources of income include sales of related products such as healthy snacks, vitamins and supplements, and other health and wellness products.

Projecting Expenses

In this section, all the regular expenses related to keeping the diet soft drinks products business running will be described. The list of operating expenses includes production costs, advertising and promotion costs, salaries for employees, lease or rent payments, utilities, insurance costs, and other administrative costs.

Some of the key companies operating in the diet soft drinks market are increasingly focusing on product launches and expansion of the distribution channels to gain prominent visibility among consumers. Some of the initiatives are:

– In June 2022, PepsiCo launched a new range of diet soft drinks under the name ‘Diet Pepsi Max’.

– In October 2022, The Coca-Cola Company launched the ‘Coke Zero Sugar’ range of diet soft drinks.

– In August 2022, Dr Pepper Snapple Group Inc. launched the ‘Diet Dr Pepper’ range of diet soft drinks.

Some of the prominent players in the diet soft drinks market include:

– PepsiCo Inc.
– The Coca-Cola Company
– Dr Pepper Snapple Group Inc.
– National Beverage Corporation
– AriZona Beverages USA LLC
– Nestlé S.A.
– Royal Crown Cola International
– Sunny Delight Beverages Co.
– Hansen Natural Corporation
– Kraft Foods Inc.

This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global diet soft drinks products market based on product type, distribution channel, type, and region:

1. Product Type Outlook (Revenue, USD Million, 2017 – 2030)

– Carbonated Soft Drinks
– Non-Carbonated Soft Drinks
– Others

2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)

– Supermarkets & Hypermarkets
– Online
– Others

3. Type Outlook (Revenue, USD Million, 2017 – 2030)

– Regular
– Diet

4. Regional Outlook (Revenue, USD Million, 2017 – 2030)

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

[Q]: What is the potential of product innovation in the diet soft drinks market?
[A]: Product innovation is a key factor driving the diet soft drinks market. Companies are investing heavily in research and development to introduce new flavors, colors, and sugar and calorie-free options to appeal to a wider consumer base. For instance, Coca-Cola recently introduced a new range of diet soft drinks that contain natural sweeteners and colors. This has enabled the company to tap into the growing trend of health-conscious consumers.

[Q]: Who are the key players in the diet soft drinks market?
[A]: The major players in the diet soft drinks market include Coca-Cola Company, PepsiCo, Dr Pepper Snapple Group, Red Bull GmbH, and Monster Beverage Corporation.

[Q]: What are the factors driving the diet soft drinks market?
[A]: Increasing health concerns among consumers and rising disposable incomes are the primary factors driving the diet soft drinks market. Consumers are becoming more health conscious and are opting for diet soft drinks due to their lower calorie and sugar content. Additionally, the increasing demand for convenience and on-the-go consumption is propelling the market growth.

[Q]: What are the key trends in the diet soft drinks market?
[A]: The key trends in the diet soft drinks market include the increasing popularity of natural sweeteners such as stevia and monk fruit and the rising demand for zero-calorie options. Additionally, the increasing focus on product packaging and branding is also driving market growth.

[Q]: Which region offers the largest opportunity for sales of diet soft drinks?
[A]: North America is expected to be the most lucrative market for diet soft drinks, with an absolute dollar opportunity of $20 billion (USD). This can be attributed to the increasing health consciousness among consumers in the region and their rising disposable incomes.