The purpose of the present invention is to provide a carbonated beverage having reduced capsicum extract spiciness that increases with carbonation. This carbonated beverage is characterized by containing a capsicum extract, and at least one type of spiciness-reducing substance selected from a group comprising (a) and (b) (a) being an extract of Laurus nobilis, myristicin, Zanthoxylum bungeanum, or Zanthoxylum piperitum and (b) being caramel.