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The global soft drink market size was valued at $416 billion in 2021 and is expected to expand at a CAGR of 5.2 percent between 2022 and 2028.
Against this backdrop, Coca-Cola is launching Dreamworld, the fourth and final of its Coca-Cola “Creations” flavors in 2022, which the beverage giant says allows consumers to explore “what a dream tastes like.”
The Coca-Cola Creations platform, which debuted in February, was introduced to highlight the company’s signature drink and appeal to younger consumers.
Coca-Cola Dreamworld is the fourth and last release of Coca-Cola Creations of 2022, which, according to its description “bottles the technicolor tastes and the surrealism of the subconscious with an invitation to savor the magic of everyday moments and dream with your eyes open”.
The beverage, which will be available in the United States and Canada beginning August 15, adds joyful and vibrant flavor notes that evoke the limitless creativity of the human imagination to the unmistakable flavor of Coke.
“Coca-Cola Dreamworld taps into Gen Z’s passion for the infinite potential of the mind by exploring the taste of a dream,” said Alessandra Cascino, director of the Creative and Purchasing Program, Coca-Cola North America Operating Unit. “Like the Coca-Cola creations that came before it, Dreamworld plays with the unexpected and is sure to spark discovery and discussion among consumers…which we appreciate.”
the soft drink industry
the size of the global soft drink market was valued at $416 billion in 2021 and is expected to expand at a CAGR of 5.2 percent between 2022 and 2028. Rising costs are expected to disposal income changing lifestyle and a growing population promote market growth in the next few years.
Growing demand for clean label, gluten-free, low-calorie, low-carb products drives the global soft drink market. In addition, the growing popularity among millennials and growing R&D investments in the food and beverage sector are expected to drive demand from the industry.
Key stats:
- Revenue in the Soft Drinks segment increases to billions of dollars in 2022. The market is expected to grow by 6.95 percent annually.
- In global comparison, the majority of revenue is generated in the United States.
- In relation to the total population figures, income per person of 111 dollars is generated in 2022.
- By 2026, 44 percent of spending and 14 percent of consumption volume in the Soft Drinks segment will be attributable to consumption outside the home (for example, in bars and restaurants).
- In the Soft Drinks segment, volume is expected to reach 384 ML by 2026. The Soft Drinks segment is expected to show volume growth of 5.8 percent in 2023.
- The average volume per person in the Soft Drinks segment is expected to reach 45.11 L in 2022.
In this sense, with limited-time products such as Dreamworld, Coca-Cola the company hopes to attract drinkers who want to find out for themselves what the mystery-named soda tastes like. In addition, the uncertainty surrounding the name after a conversation, particularly among online consumers, is likely to which will generate even more buzz for the item and potentially for other brands of Coke.
Coca-Cola’s other creations have included “pixel-flavored” Byte and a strawberry-and-watermelon-flavored collaboration with Grammy-nominated artist Marshmello.
However, it is not the only company that has created different flavors to subsist in new audiences, such as Generation Z. Such is the case of Pepsi a company that launched a new flavor in March Nitrogen Infused Tail which is the first of its kind. According to the statement, the drink has a creamier and smoother taste compared to traditional Pepsi.
Similar to this philosophy, Coke he certainly hopes that younger consumers will jump at the chance to try a novelty drink like this. Since the soft drink consumption declined over the past 20 years, beverage manufacturers such as Coke and PepsiCo they must be creative in finding ways to get shoppers to stock up.