Emerging nations in Asia are trying to pop the fizz, with a tax on sugary drinks on the agenda of several fast-growing markets.
Among countries studying the implementation of a soda sin tax are India, Indonesia and Philippines, all of who have registered strong double digit growth in the market size for soft drinks over the last five years, according to statistics from consumer research firm, Euromonitor.
The move is sending chills across the beverage industry as Big Soda battles sin taxes and image issues amid rising public health concerns over the consumption of sugary drinks.
"Unprecedented price shocks in these volume growth markets could undermine the opportunity and strategic plans for global drinks players interested in expansion," said Howard Telford, Senior Beverages Analyst at Euromonitor in a report this month.
The market size for soft drinks in terms of retail value more than doubled in India from 2010 to 2015 while it rose 45 percent and 30 percent in Indonesia and the Philippines, respectively.
The world soft drinks market is forecast to reach $580 billion this year with top consumer U.S. accounting for about 17 percent of consumption in value terms.
According to Euromonitor, India is the world's sixth-largest market for soft drinks, with consumers expected to guzzle down an estimated 24 billion liters of these beverages this year.
Indonesia, meanwhile, comes in at the eight position, downing 23 billion liters.
U.S. imposed the first soda tax this year in the city of Berkeley, California when a one-cent per ounce tax was slapped on sugar-sweetened drinks.