Global Beverages Industry

Beverages Industry Size, Share, Growth Analysis, By Type(Alcoholic Beverages, Non-Alcoholic Beverages), By Distribution Channel(Supermarkets/Hypermarkets, Convenience Stores, E-Commerce, Other Distribution Channels), By Nature(Organic, Conventional), By Region - Industry Forecast 2024-2031


Report ID: SQMIG30E2042 | Region: Global | Published Date: April, 2024
Pages: 165 |Tables: 89 |Figures: 74

Beverages Industry Insights

Beverages Industry size was valued at USD 24.42 billion in 2019 and is poised to grow from USD 26.8 billion in 2023 to USD 71.83 billion by 2031, growing at a CAGR of 12.7% in the forecast period (2024-2031).

The global beverage sector is taking advantage of a wave of fundamental change and is constantly changing due to the beverages industry's growing associations with social and cultural roles. With a growing tendency over the previous few years, non-alcoholic beverages now account for more than 50% of the worldwide beverage market. Due to the expanding popularity of reviving beverages and the advancement of civilization across human societies, the market provides investors with a comprehensive view of the industry. Manufacturers have been motivated to expand their production capacities globally by the lowered trade restrictions and tariff barriers in the international market. In the upcoming years, there will be several growth prospects in emerging countries due to the shifting customer demand brought on by the introduction of novel products.

Due to the worldwide spread of the COVID-19 epidemic, the beverage industry for non-alcoholic beverages is experiencing a sudden decline in soft drink sales and consumption. The World Trading Organization predicts that for a while, the global trade environment would be negatively impacted by between 15 to 30 %. Market supply interruptions will be the result of the impact. The cancellation of important sporting events including the Summer Olympics, Indian Premier League (IPL), Cricket World Cup, and others would further hinder the market's growth this year.

US Beverages Industry is poised to grow at a sustainable CAGR for the next forecast year.

Market Snapshot - 2024-2031

Global Market Size

USD 24.42 billion

Largest Segment

Supermarkets/Hypermarkets

Fastest Growth

Supermarkets/Hypermarkets

Growth Rate

12.7% CAGR

Global Beverages Industry Market 2022-2028 ($ Bn)
Country Share for Asia-Pacific Region- 2021 (%)

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Beverages Industry Segmental Analysis

Global Beverages Industry is segmented based on Type, Distribution Channel, Nature, and Region. Based on Type the beverages industry is further sub-segmented into Alcoholic Beverages,Non-Alcoholic Beverages (Bottled Water, Carbonated Soft Drinks, Fruit Juice, Milk & Others), Based on Distribution Channel the market is further sub segmented into Supermarkets,Hypermarkets, Convenience Stores, E-Commerce, Other Distribution Channels, According to Nature the market is further sub segmented into Organic, Conventional. Based on Region the global Beverages is segmented into North America, Europe, Asia-Pacific, South America, and MEA.

Beverages Industry Analysis by Product Type

Due to its refreshing qualities, people are purchasing new, flavor-infused CSDS in the market to relieve their thirst. Demand for the product is also being driven by consumers' increased efforts to improve their low-cost distribution channels. Due to the consumers' increasing economic circumstances, growing economies like India and China make up a significant portion of this industry. RTD drinks, juices, and sports drinks, on the other hand, are expected to expand at a quicker rate as consumers worldwide turn more and more toward healthier beverages.

Beverages Industry Analysis By Distribution Channel

Investors are using buyer comforts to provide a simple shopping experience while the supermarket/hypermarket sector undergoes constant change. Retailers can supply customers with beverages of a sufficient quality to the floor's equipment and implementation of technology improvements. A significant portion of non-alcoholic beverage sales is made through supermarkets and hypermarkets, which sold nearly 43% of all groceries in 2021, according to the Food Industry Association 2021. To avoid fines from the Environmental Protection Agency (EPA) and to provide their customers with high-quality goods, supermarkets are emphasizing adhering to new regulatory requirements including those regarding refrigerant leaks and quality assurance.

Global Beverages Industry Market By Distribution Channel, 2021 (%), 2023 (%)

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Beverages Industry Regional Insights

Due to a consistent rise in consumers' living standards and disposable income, Asia Pacific emerged as the market leader and will remain so during the forecast period. Consumer spending on beverage items has increased as a result of consumers' rising adoption of western culture and modernization. The International Wines and Spirits Record (IWSR) predicts that non-alcoholic brands will experience strong growth in these markets as people look for ways to drink less alcohol.

Due to the rise in consumer demand for RTD beverages and sports drinks, the North American and European markets are predicted to expand at a high CAGR. The consumption of alcohol is falling in each of the aforementioned locations, and consumers are shifting their attention to "better-for-you" goods that support the market for healthy soft drinks. Due to inadequate product penetration in the underdeveloped markets of the two areas, the Middle East & Africa and South America markets accounted for a lesser percentage of the market.

Global Beverages Industry Market By Geography, 2022-2028, 2024-2031
  • Largest
  • Fastest

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Beverages Industry Dynamics

Beverages Industry Driver

Growth will be accelerated by the use of novel beverages to aid human hydration.

  • Non-alcoholic beverages serve the essential refreshment purpose as well as mood lifters, fortified drinks, and sweet indulgence delight in the busy daily schedules of customers. These goods are more well-liked by customers who lead busy lives because regular use of them helps the body keep hydrated. As a 'grab-and-go' convenience that encourages customers to purchase them from the market, convenience beverages such as canned CSD and Ready-to-drink (RTD) coffee/tea have become popular. The Food Export Association reports that over the previous four years, sales of RTD tea and coffee have increased by almost 24%. The largest beverages industry share belongs to the United States.
  • The beverage industry is expected to be significantly impacted by technological advancements and emerging trends in online purchasing. due to consumers' increasing reliance on the internet and e-commerce. Internet usage is continuously rising every year, according to the global E-commerce Foundation's report. e-commerce generated almost 30% of the total worldwide sales for groceries, and this figure is projected to increase going forward. To help the market growth over the upcoming years, soft drink producers are putting a lot of effort into creating new online businesses.

Beverages Industry Restraint

Natural resource availability and price fluctuations could affect the supply chain.

  • Due to this industry's heavy reliance on natural resources like electricity and water, various social and environmental externalities are produced. Indirect greenhouse gas emissions, declining water supplies, and rising pollution encourage disturbances in the supply of natural resources, which is expected to impair market production capacity. However, manufacturers have partnered with the alcoholic beverage industry to form the Beverage Industry Environmental Roundtable after seeing the opportunities and hazards linked to sustainability challenges (BIER). Leading corporations including The Coca-Cola Company, Pepsi Co., and others have formed the BIER technical coalition to advance sustainability in the beverage industry.

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Beverages Industry Competitive Landscape

The Coca-Cola Company, the largest beverage company in the world, places a strong emphasis on keeping up with current trends by introducing new flavors of VitaminWater, fermented drinks, probiotic drinks, RTD beverages, and others. For instance, to meet the demand for energy drinks in India, the company launched an ethnic energy drink, a carbonated beverage named Jaljeera drink, in March 2021. The market's reinforced production and distribution capacities as well as the key players' strong domination are contributing aspects to this company's rise to supremacy. Due to a few corporations holding commanding positions, the market for non-alcoholic beverages is highly concentrated. The businesses are continually concentrating to suit the changing consumer tastes and ongoing market developments.

Beverages Industry Top Players’ Company Profiles

  • Coca-Cola
  • PepsiCo
  • Nestle
  • Anheuser-Busch InBev
  • Heineken
  • Diageo
  • Dr Pepper Snapple Group
  • Keurig Dr Pepper
  • Monster Beverage Corporation
  • Red Bull GmbH
  • Suntory Beverage & Food Ltd.
  • Unilever PLC
  • Danone S.A.
  • The Kraft Heinz Company
  • Fomento Economico Mexicano S.A.B. de C.V. (FEMSA)
  • Carlsberg A/S
  • Molson Coors Brewing Company
  • The Hershey Company (owns the 7UP brand)

Beverages Industry Recent Development

  • In December 20221, For start-ups on the cutting edge of revolutionary trends, PepsiCo, Inc. has introduced the greenhouse accelerator program in North America.
  • In February 2021, To broaden its selection of fruit-based beverages in India, The Coca-Cola Company introduced the effervescent drink "Colour" made with grape juice.

Beverages Industry Trends

  • Manufacturers have to launch several nutrient-rich items on the beverages industry due to the growing consumer interest in healthy beverages filled with nutrients. Consumers, particularly millennials, are becoming more adventurous and open to trying out fresh, healthier soda alternatives. By exposing the changing tastes of millennial consumers and their offspring around the world, the demand is forcing manufacturers to reconsider how they formulate their products and has an impact on new manufacturing ideas. To meet the nutritional demands of millennials and young children and support their healthy development, they must consume enough healthy beverages in early childhood, according to the National Health and Nutrition Organizations.

Beverages Industry SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected using Primary Exploratory Research backed by the robust Secondary Desk research.

According to the analysis, the Hypermarkets segment dominated the Global Beverages Industry market in 2021 and is expected to maintain its dominance throughout the forecast period. In 2021, North America dominated the Global Beverages Industry market owing to the region's highly aware and economically stable population, as well as a significantly higher number of procedures conducted.

Report Metric Details
Market size value in 2023 USD 24.42 billion
Market size value in 2031 USD 71.83 billion
Growth Rate 12.7%
Forecast period 2024-2031
Forecast Unit (Value) USD Billion
Segments covered
  • Type
    • Alcoholic Beverages, Non-Alcoholic Beverages
  • Distribution Channel
    • Supermarkets/Hypermarkets, Convenience Stores, E-Commerce, Other Distribution Channels
  • Nature
    • Organic, Conventional
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Coca-Cola
  • PepsiCo
  • Nestle
  • Anheuser-Busch InBev
  • Heineken
  • Diageo
  • Dr Pepper Snapple Group
  • Keurig Dr Pepper
  • Monster Beverage Corporation
  • Red Bull GmbH
  • Suntory Beverage & Food Ltd.
  • Unilever PLC
  • Danone S.A.
  • The Kraft Heinz Company
  • Fomento Economico Mexicano S.A.B. de C.V. (FEMSA)
  • Carlsberg A/S
  • Molson Coors Brewing Company
  • The Hershey Company (owns the 7UP brand)
Customization scope

Free report customization with purchase. Customization includes:-

  • Segments by type, application, etc
  • Company profile
  • Market dynamics & outlook
  • Region

Historical Year 2019

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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Beverages Industry Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Beverages Industry size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Beverages Industry, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Beverages Industry.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Beverages Industry:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Beverages Industry for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Beverages Industry size was valued at USD 24.42 billion in 2019 and is poised to grow from USD 26.8 billion in 2023 to USD 71.83 billion by 2031, growing at a CAGR of 12.7% in the forecast period (2024-2031).

The Coca-Cola Company, the largest beverage company in the world, places a strong emphasis on keeping up with current trends by introducing new flavors of VitaminWater, fermented drinks, probiotic drinks, RTD beverages, and others. For instance, to meet the demand for energy drinks in India, the company launched an ethnic energy drink, a carbonated beverage named Jaljeera drink, in March 2021. The market's reinforced production and distribution capacities as well as the key players' strong domination are contributing aspects to this company's rise to supremacy. Due to a few corporations holding commanding positions, the market for non-alcoholic beverages is highly concentrated. The businesses are continually concentrating to suit the changing consumer tastes and ongoing market developments. 'Coca-Cola', 'PepsiCo', 'Nestle', 'Anheuser-Busch InBev', 'Heineken', 'Diageo', 'Dr Pepper Snapple Group', 'Keurig Dr Pepper', 'Monster Beverage Corporation', 'Red Bull GmbH', 'Suntory Beverage & Food Ltd.', 'Unilever PLC', 'Danone S.A.', 'The Kraft Heinz Company', 'Fomento Economico Mexicano S.A.B. de C.V. (FEMSA)', 'Carlsberg A/S', 'Molson Coors Brewing Company', 'The Hershey Company (owns the 7UP brand)'

Non-alcoholic beverages serve the essential refreshment purpose as well as mood lifters, fortified drinks, and sweet indulgence delight in the busy daily schedules of customers. These goods are more well-liked by customers who lead busy lives because regular use of them helps the body keep hydrated. As a 'grab-and-go' convenience that encourages customers to purchase them from the market, convenience beverages such as canned CSD and Ready-to-drink (RTD) coffee/tea have become popular. The Food Export Association reports that over the previous four years, sales of RTD tea and coffee have increased by almost 24%. The largest beverages industry share belongs to the United States.

Manufacturers have to launch several nutrient-rich items on the beverages industry due to the growing consumer interest in healthy beverages filled with nutrients. Consumers, particularly millennials, are becoming more adventurous and open to trying out fresh, healthier soda alternatives. By exposing the changing tastes of millennial consumers and their offspring around the world, the demand is forcing manufacturers to reconsider how they formulate their products and has an impact on new manufacturing ideas. To meet the nutritional demands of millennials and young children and support their healthy development, they must consume enough healthy beverages in early childhood, according to the National Health and Nutrition Organizations.

Due to a consistent rise in consumers' living standards and disposable income, Asia Pacific emerged as the market leader and will remain so during the forecast period. Consumer spending on beverage items has increased as a result of consumers' rising adoption of western culture and modernization. The International Wines and Spirits Record (IWSR) predicts that non-alcoholic brands will experience strong growth in these markets as people look for ways to drink less alcohol.

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Global Beverages Industry

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