Dublin, Oct. 10, 2023 (GLOBE NEWSWIRE) -- The "Global Beverage Market - Forecasts from 2023 to 2028" report has been added to ResearchAndMarkets.com's offering.
The global beverage market, valued at US$1,568.389 billion in 2021, is on a growth trajectory with a projected Compound Annual Growth Rate (CAGR) of 3.47%. By 2028, it is estimated to reach a market size of US$1,991.845 billion, driven by various factors and key developments.
Key Highlights of the Global Beverage Market:
- Consumer Preference Shift: The market's growth is bolstered by rising disposable income and evolving consumer preferences, particularly in developing economies. Consumers are increasingly inclined toward ready-to-drink beverages, fostering market expansion.
- Alcoholic Beverage Consumption: The per capita consumption of alcoholic beverages is on the rise, with a preference for premium products. This trend is contributing to the market's growth, exemplified by the Estonian Ministry of Social Affairs reporting increased alcohol consumption, particularly strong alcoholic beverages.
- Health Concerns: Despite market growth, health concerns related to sugar content in packaged beverages and alcohol consumption pose challenges. However, the introduction of healthier, low-sugar content products offers opportunities for market expansion.
Driving Factors:
- Fruit-Based Beverages: Non-alcoholic products with healthier content and fruit-based options are expected to drive market growth. As health-consciousness increases, demand for fruit-based beverages with reduced sugar content is likely to rise.
Key Developments:
- Tata Consumer Products (TCPL) entered the fruit-based drinks sector in November 2022 with the launch of Fruski Juice N Jelly drink. This move aligns with NourishCo's goal to expand its product portfolio in the non-alcoholic beverages category.
- In December 2022, Fresh Del Monte introduced 'A Kick of Fruit,' a line of energy drinks containing at least 20% real fruit juice and no added sugar, in collaboration with Scotland-based beverage maker Old Tom Gin.
- In January 2022, Danone North America expanded its portfolio with Silk Extra Creamy Almond milk, catering to consumers seeking dairy-free, gluten-free, and vitamin-rich alternatives.
Regional Market Insights:
- North America holds a significant share in the global beverage market. Consumers in this region are increasingly seeking healthier and premium beverage options, including plant-based alternatives, functional beverages, and sugar-free drinks.
- The United States, in particular, exhibits a growing demand for health-conscious and sustainable beverage choices. Trends favor plant-based milk, energy drinks, and convenient on-the-go options.
Market Segmentation:
By Type
- Alcoholic Beverage
- Non-Alcoholic Beverage
- Bottled Water
- Carbonated Soft Drinks
- Fruit Juice
- Milk
- Dairy
- Almond
- Soy
- Rice
- Oat
- Cashew
- Coconut
- Others
By Packaging Type
- Cans
- Bottles
- Others
By Distribution Channel
- Online
- Offline
By Geography
- North America
- USA
- Canada
- Mexico
- South America
- Brazil
- Argentina
- Others
- Europe
- UK
- Germany
- France
- Italy
- Others
- Middle East and Africa
- Saudi Arabia
- UAE
- Others
- Asia Pacific
- China
- Japan
- India
- South Korea
- Taiwan
- Thailand
- Indonesia
- Others
Companies Mentioned
- Unilever
- The Coca-Cola Company
- Nestle
- Pepsi Co Inc
- Jones Soda Co.
- Danone
- Appalachia Brewing Company
- GCMMF (Amul)
- Keurig Dr Pepper Inc.
- Bacardi Limited
- Carlsberg Breweries A/S
- Heineken N.V.
- Suntory Holdings Limited
- Constellation Brands Inc.
- Molson Coors Brewing Company
- United Breweries Group
- Brown-Forman Corporation
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 210 |
| Forecast Period | 2021 - 2028 |
| Estimated Market Value (USD) in 2021 | $1568.39 billion |
| Forecasted Market Value (USD) by 2028 | $1991.85 billion |
| Compound Annual Growth Rate | 3.4% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/sik54t
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
