Global Beverage Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Type (Alcoholic Beverages, Non-Alcoholic Beverages, Bottled Water, Carbonated Soft Drinks, Fruit Juice, Milk, Dairy Milk, Almond Milk, Soy Milk, Rice Milk, Coconut Milk, Cashew Milk), By Packaging Type (Cartons, Cans, Bottles, Others), By Distribution Channel (Online, Offline, Supermarkets, Departmental Stores, Specialty Stores), And By Geography – Forecast From 2019 To 2024

The global beverage market is evaluated at US$1,544.610 billion for the year 2018 and is projected to grow at a CAGR of 3.10% to reach the market size of US$1,854.589 billion by the year 2024. The market is projected to grow at a decent rate during the forecast period owing to the growing per capita global consumption of drinks in major developing regions owing to rising disposable income and changing preferences of consumers towards ready-to-drink beverages. Moreover, the growing focus by key market players is investing heavily in mergers, acquisitions, and product launches in order to gain a competitive advantage over other players also shows the growth potential of the market in the coming years. Furthermore, the growing per capita consumption of alcoholic drinks and consumer preferences regarding premium products is also expected to augment the market growth. However, rising health concerns regarding the sugar content of packed beverages coupled with health concerns regarding the consumption of alcohol may hinder the growth of the market during the forecast period. However, the launch of new products in the non-alcoholic segment such as with drinks healthier content and zero sugar is further projected to create ample opportunities for the market during the forecast period and beyond. Geographically the Asia Pacific is expected to hold the dominating share in the market owing to rising disposable income, rapid urbanization coupled with changing the lifestyle of consumers.

 

DRIVERS

Growing consumption per capita consumption of alcoholic beverages.

Rising disposable income.

Expansion of distribution channels

 

RESTRAINTS

Rising health consciousness regarding the consumption of both alcoholic and non-alcoholic beverages.

 

INDUSTRY UPDATES

In January 2019, The Coca-Cola Company acquired Chi Ltd., a leading company in beverages like juices and value-added dairy.

In August 2019, Diageo announced the acquisition of Seedlip, the world’s first distilled non-alcoholic spirits brand as a majority shareholder.

 

Some of the major players discussed in this report are Unilever, The Coca Cola Company, GCMMF (Amul), Bacardi Limited, Carlsberg Breweries A/S, and Heineken N.V. among others.

 

 

Alcoholic Beverages

Non-Alcoholic Beverages  

Bottled Water

Carbonated Soft Drinks

Fruit Juice

Milk 

Dairy Milk

Almond Milk

Soy Milk

Rice Milk

Coconut Milk

Cashew Milk

 

 

Cartons

Cans

Bottles

Others

 

 

Online

Offline

Supermarkets

Departmental Stores

Specialty Stores

 

North America

USA

Canada

Mexico

 

South America

Brazil

Argentina

Colombia

Chile

Others

 

Europe

Germany

France

United Kingdom

Spain

Italy

Netherlands

Russia

Others

 

Middle East and Africa

Saudi Arabia

United Arab Emirates

South Africa

Israel

Others

 

Asia Pacific

China

Japan

South Korea

India

Australia

Others