The soda category, in a few key respects, has undergone a noteworthy evolution in recent years.
Soda drinks first gained prominence in the 19th century, as noted in a recent article by Smithsonian Magazine. Many initially believed that soda could cure various illnesses, such as scurvy. Additionally, soda shops were akin to the coffee shops of today.
Soda’s reputation eventually took a turn for the worse, of course. By 1942, The Smithsonian noted, the American Medical Association recommended people limit the amount of sugary drinks that were consumed. By the 1980s, companies swapped sugar for high-fructose corn syrup, prompting concerns over obesity. Although many people still indulged in soda, it was largely viewed as unhealthy.
The tide could be turning, however. The craft soda market, for example, is making a comeback.
In 2022, the global craft soda market size was valued at $681.7 million, and the category is expected to grow at a CAGR of 5.1% through the rest of this decade, according to Grand View Research.
Soda companies seek new ways to stay relevant, and one way that they’re appealing to consumers is by sweetening their sodas with alternatives to corn syrup, according to Smithsonian Magazine. Smaller, niche soda companies are finding success among consumers by reimagining the beverage and finding new ways to present it to consumers through the craft soda segment.
“If smaller brands weren’t making headway in the soda market, I don’t know that you’d see Coke doing their Creations line or a new Mountain Dew flavor every 17 seconds,” Aaron Manahan, a prominent YouTube star who has tried over 700 sodas, told Smithsonian Magazine.
In 2024, the major players in the craft soda market include:
- Jones Soda Co.
- Appalachian Brewing Co.
- Reed’s Inc.
- Pepsico
- The Original Craft Soda Company
- The Coca Cola Company
- Crooked Beverage Co.
- Sipp Eco Beverage Co.
- Boylan Bottling Co.
Another company to watch is Sprecher Brewing, which has added five soda brands and an all-natural category and has seen craft soda sales increase 300% since 2020. Recently, Sprecher acquired Juvee and expanded into the energy drink category.
Juvee, which is short for rejuvenation, has grown revenues by 400 percent, driven mostly by the dedicated community they’ve built online.
“This is another exciting step for our company,” said Sprecher Brewing Company CEO Sharad Chadha in a statement. “It continues our company’s aggressive growth strategy.”
Those who made a resolution to give up soda in the new year may be more tempted than ever, with more appealing and better-for-you options popping up every day.
