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Carbonates in Serbia

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    Report

  • 30 Pages
  • January 2026
  • Region: Serbia
  • Euromonitor International
  • ID: 1233541
Volume sales of carbonates showed a flat performance in Serbia in 2025, albeit at a slight improvement on the sub-decimal negative performance seen in 2024. Meanwhile, value sales are better supported by high prices. A key trend in carbonates is that consumers are seeking lower-sugar options and sometimes switching out of high-sugar and deemed-unhealthy soft drinks overall. For example, in this sense, consumers may replace carbonates with sparkling bottled water.

This Carbonates in Serbia report offers a comprehensive guide to the size and shape of the market at a national level. It provides the latest retail sales data (2021-2025), allowing you to identify the sectors driving growth. It identifies the leading companies, the leading brands and offers strategic analysis of key factors influencing the market - be they legislative, distribution, packaging or pricing issues. Forecasts to 2030 illustrate how the market is set to change.

Product coverage: Cola Carbonates, Non-Cola Carbonates, Reduced Sugar Carbonates, Regular Carbonates.

Data coverage: market sizes (historic and forecasts), company shares, brand shares and distribution data.

Why buy this report?

  • Get a detailed picture of the Carbonates market;
  • Pinpoint growth sectors and identify factors driving change;
  • Understand the competitive environment, the market’s major players and leading brands;
  • Use five-year forecasts to assess how the market is predicted to develop.

Table of Contents

KEY DATA FINDINGS
2025 DEVELOPMENTS
  • A flat volume performance for carbonates, due to high prices and competition from other soft drinks
INDUSTRY PERFORMANCE
  • Health and wellness trends place downwards pressure on carbonates
  • Health and wellness trends lead to demand for reduced sugar carbonates
WHAT’S NEXT?
  • Volume sales will remain challenged by competition from healthier soft drinks
  • Unique flavours, colours, and licensing partnerships set to attract consumer attention
  • A stronger focus on reduced sugar carbonates is expected to continue
COMPETITIVE LANDSCAPE
  • Coca-Cola maintains its lead thanks to a strong brand portfolio and enhanced local infrastructure
  • Private label grows in demand, due to consumers seeking good quality at affordable prices
CHANNELS
  • Small local grocers maintains a marginal distribution channel lead over the upcoming convenience stores
  • Retail e-commerce sees the strongest growth, albeit from an emergent base
CATEGORY DATA
  • Table 1 Off-trade vs On-trade Sales of Carbonates: Volume 2020-2025
  • Table 2 Off-trade vs On-trade Sales of Carbonates: Value 2020-2025
  • Table 3 Off-trade vs On-trade Sales of Carbonates: % Volume Growth 2020-2025
  • Table 4 Off-trade vs On-trade Sales of Carbonates: % Value Growth 2020-2025
  • Table 5 Off-trade Sales of Carbonates by Category: Volume 2020-2025
  • Table 6 Off-trade Sales of Carbonates by Category: Value 2020-2025
  • Table 7 Off-trade Sales of Carbonates by Category: % Volume Growth 2020-2025
  • Table 8 Off-trade Sales of Carbonates by Category: % Value Growth 2020-2025
  • Table 9 Sales of Carbonates by Total Fountain On-trade: Volume 2020-2025
  • Table 10 Sales of Carbonates by Total Fountain On-trade: % Volume Growth 2020-2025
  • Table 11 NBO Company Shares of Off-trade Carbonates: % Volume 2021-2025
  • Table 12 LBN Brand Shares of Off-trade Carbonates: % Volume 2022-2025
  • Table 13 NBO Company Shares of Off-trade Carbonates: % Value 2021-2025
  • Table 14 LBN Brand Shares of Off-trade Carbonates: % Value 2022-2025
  • Table 15 Forecast Off-trade Sales of Carbonates by Category: Volume 2025-2030
  • Table 16 Forecast Off-trade Sales of Carbonates by Category: Value 2025-2030
  • Table 17 Forecast Off-trade Sales of Carbonates by Category: % Volume Growth 2025-2030
  • Table 18 Forecast Off-trade Sales of Carbonates by Category: % Value Growth 2025-2030
  • Table 19 Forecast Sales of Carbonates by Total Fountain On-trade: Volume 2025-2030
  • Table 20 Forecast Sales of Carbonates by Total Fountain On-trade: % Volume Growth 2025-2030
COUNTRY REPORTSSOFT DRINKS IN SERBIA
EXECUTIVE SUMMARY
  • Sales remain impacted by economic instability, with volume sales remaining low
KEY DATA FINDINGS
INDUSTRY PERFORMANCE
  • Health and wellness trends influence demand for reduced sugar options
  • Busy lifestyles support demand for smaller format sizes to suit on-the-go consumption
  • Sustainability trends influence the growing use of recycled packaging materials
WHAT’S NEXT?
  • Volume sales expected to maintain low positive growth, driven by the most in-demand soft drinks
  • Price sensitivity will continue, with consumers seeking deals, discounts, and private label
  • Developments expected to focus on lower sugar and functional soft drinks, with flavour remaining important
COMPETITIVE LANDSCAPE
  • Coca-Cola maintains overall lead thanks to diverse brand portfolio, ongoing innovations, and strong distribution
  • Private label grows in demand, while lifestyle brand Oshee benefits from the popularity of sports drinks
CHANNELS
  • Convenience stores benefit from consumers’ demand for fast, efficient, small and frequent shopping
  • Retail e-commerce and discounters grow in demand, catering to convenience and affordability
  • Foodservice vs retail split
MARKET DATA
  • Table 21 Off-trade vs On-trade Sales of Soft Drinks (RTD) by Channel: Volume 2020-2025
  • Table 22 Off-trade vs On-trade Sales of Soft Drinks (RTD) by Channel: % Volume Growth 2020-2025
  • Table 23 Off-trade vs On-trade Sales of Soft Drinks by Channel: Value 2020-2025
  • Table 24 Off-trade vs On-trade Sales of Soft Drinks by Channel: % Value Growth 2020-2025
  • Table 25 Off-trade vs On-trade Sales of Soft Drinks (as sold) by Category: Volume 2025
  • Table 26 Off-trade vs On-trade Sales of Soft Drinks (as sold) by Category: % Volume 2025
  • Table 27 Off-trade vs On-trade Sales of Soft Drinks by Category: Value 2025
  • Table 28 Off-trade vs On-trade Sales of Soft Drinks by Category: % Value 2025
  • Table 29 Off-trade Sales of Soft Drinks (RTD) by Category: Volume 2020-2025
  • Table 30 Off-trade Sales of Soft Drinks (RTD) by Category: % Volume Growth 2020-2025
  • Table 31 Off-trade Sales of Soft Drinks by Category: Value 2020-2025
  • Table 32 Off-trade Sales of Soft Drinks by Category: % Value Growth 2020-2025
  • Table 33 Sales of Soft Drinks by Total Fountain On-trade: Volume 2020-2025
  • Table 34 Sales of Soft Drinks by Total Fountain On-trade: % Volume Growth 2020-2025
  • Table 35 NBO Company Shares of Off-trade Soft Drinks (RTD): % Volume 2021-2025
  • Table 36 LBN Brand Shares of Off-trade Soft Drinks (RTD): % Volume 2022-2025
  • Table 37 NBO Company Shares of Off-trade Soft Drinks: % Value 2021-2025
  • Table 38 LBN Brand Shares of Off-trade Soft Drinks: % Value 2022-2025
  • Table 39 Penetration of Private Label in Off-trade Soft Drinks (RTD) by Category: % Volume 2020-2025
  • Table 40 Penetration of Private Label in Off-trade Soft Drinks by Category: % Value 2020-2025
  • Table 41 Distribution of Off-trade Soft Drinks (as sold) by Format: % Volume 2020-2025
  • Table 42 Distribution of Off-trade Soft Drinks (as sold) by Format and Category: % Volume 2025
  • Table 43 Forecast Off-trade vs On-trade Sales of Soft Drinks (RTD) by Channel: Volume 2025-2030
  • Table 44 Forecast Off-trade vs On-trade Sales of Soft Drinks (RTD) by Channel: % Volume Growth 2025-2030
  • Table 45 Forecast Off-trade vs On-trade Sales of Soft Drinks by Channel: Value 2025-2030
  • Table 46 Forecast Off-trade vs On-trade Sales of Soft Drinks by Channel: % Value Growth 2025-2030
  • Table 47 Forecast Off-trade Sales of Soft Drinks (RTD) by Category: Volume 2025-2030
  • Table 48 Forecast Off-trade Sales of Soft Drinks (RTD) by Category: % Volume Growth 2025-2030
  • Table 49 Forecast Off-trade Sales of Soft Drinks by Category: Value 2025-2030
  • Table 50 Forecast Off-trade Sales of Soft Drinks by Category: % Value Growth 2025-2030
  • Table 51 Forecast Sales of Soft Drinks by Total Fountain On-trade: Volume 2025-2030
  • Table 52 Forecast Sales of Soft Drinks by Total Fountain On-trade: % Volume Growth 2025-2030
COUNTRY REPORTS
SOURCES
  • Summary 1 Research Sources