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, growing focus by key market players are investing heavily on mergers, acquisitions, and product launches in order to gain a competitive advantage over other players also show 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 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.
Growing consumption per capita consumption of alcoholic beverages.
Rising disposable income.
Expansion of distribution channels
Rising health consciousness regarding the consumption of both alcoholic and non-alcoholic beverages.
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
The global beverages market has been analyzed through the following segments:
Carbonated Soft Drinks
By Packaging Type
By Distribution Channel
Middle East and Africa
United Arab Emirates
Frequently Asked Questions (FAQs)
Q1. What will be the beverage market size by 2024?
A1. The global beverage market is projected to reach a market size of US$1,854.589 billion in 2024.
Q2. What factors are anticipated to drive the beverage market?
A2. 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.
Q3. What are the growth prospects for the beverage market?
A3. The global beverage market is projected to grow at a CAGR of 3.10% over the forecast period.
Q4. What is the size of the global beverage market?
A4. The beverage market is evaluated at US$1,544.610 billion for the year 2018.
Q5. Which region holds the largest market share in the beverage market?
A5. The Asia Pacific is expected to hold the dominating share in the beverage market owing to rising disposable income, rapid urbanization coupled with changing the lifestyle of consumers.