Carbonated Soft Drinks is a huge market but in decline. It has lately struggled to defend its shares against the tremendous growth of bottled water. Water demand is now flattening but CSD volumes seem to keep on going down.
This goes more for the US market, which is the largest by far, than anywhere else. According to Beverage Digest, CSD was 2.1% down in 2009 which is a bit better than the 3.0% down the previous year had to offer. Still not what you want if you are a CSD supplier, the volumes are now all the way back to where they were in 1996.
The big brands are also suffering the most, the top 7 brands aggregated market share has dropped and that on a falling market. Both Coca-Cola and PepsiCo suffered bigger volume losses than the market both in 2009 and 2008. They have recorded diminishing volumes for the last 5 or 6 years but during the same time they have managed to increase prices, way above the inflation. This can in theory compensate for the CSD giants lost volumes.