Packaged Beverage Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Type (Alcoholic Beverage, Non-Alcoholic Beverage, Juices, Milk, Carbonated Soft Drinks, And Bottled Water), By Packaging Type (Cartons, Cans, Bottles, And Others), By Distribution Channel (Online, Offline), And By Geography - Forecasts From 2019 To 2024

The global packaged beverage market is expected to grow at a compound annual growth rate of 2.40% over the forecasts period 2019 to 2024 to reach a market size of US$231.996 billion by 2024 from US$201.237 billion in 2018. The rising worldwide prevalence of eating ready-to-eat or Packaged products is expected to be a major driver of the global Packaged beverages market.

Further, the rising disposable income in various regions along with the hectic work-life schedule is anticipated to fuel the market in the coming years. Moreover, the growing focus by major players in the market on mergers and acquisitions with an aim to expand their presence in the market is expected to boost the market for Packaged beverages. For instance, The Coca-Cola company acquired Chi Ltd. With the purpose to expand its presence in Nigeria. However, the rising health consciousness amongst the population regarding sugar content in Packaged beverages is expected to hamper the market growth. To tackle the market restraining factor, major players are launching new products with healthier content and zero sugar beverages, which is further projected to create market opportunities for the market, which in turn is expected to augment the demand for Packaged beverages during the forecast period.  Additionally, the growing millennial population along with the rising sports industry is leading to increased consumption of various Packaged sports drinks which in turn is expected to augment the demand for beverages in the near future. The market has been segmented on the basis of type, packaging type, distribution channel, and geography. In the type segment, the Non-Alcoholic beverages segment is expected to grow at a substantial rate owing to the changing lifestyle and increasing health consciousness amongst the population. Geographically, Asia Pacific is projected to grow at a substantial rate owing to the presence of developing economies like China and India coupled with the rising household spending. For instance, as per the report by Organisation for Economic Co-operation and Development, household spending grew from 4.41 million US$ in 2010 to 8.94 million US$ in 2017 in China. Whereas North America is anticipated to hold a significant share in the market during the forecast period due to the early adoption and high consumption of carbonated soda beverages in the region.

DRIVERS

Rising consumption of ready to eat products.

Growing beverage industry.

Increasing disposable income.

INDUSTRY UPDATE

In June 2019, Blue Diamond Grower launched a new product, Almond Breeze Almond-Milk Horchata.

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

In January 2019, Blue Diamond, the world's leading almond marketer and processor, today announced two new Almond Breeze products, an Almond-Milk Creamer and Almond-Milk Blended with Real Bananas.

In April 2017, Danone S.A. acquired WhiteWave a leading beverage manufacturing company. With this acquisition, Danone and WhiteWave combined their activities in North America and started operating under a single business unit, named DanoneWave.  

In January 2017, Heineken acquired Brasil Kirin Holding S.A.

The major players profiled in the Packaged Beverage market include Unilever, The Coca Cola Company, Nestle, Pepsi co Inc., Jones Soda Co., Danone, Appalachian Brewing Company, GCMMF (Amul), Keurig Dr Pepper Inc., Bacardi Limited, Carlsberg Breweries A/S, Heineken N.V., Suntory Holding Limited, Constellation Brands Inc., Molson Coors Brewing Company, United Breweries Ltd., Brown-Forman Corporation,

Packaged Beverage Market Scope:

Segmentation

The Packaged Beverage market has been analyzed through the following segments:

By Type

Alcoholic Beverage

Non-Alcoholic Beverage

Juices

Milk

Carbonated Soft Drinks

Bottled Water 

By Packaging Type

Cartons

Cans

Bottles

Others 

By Distribution Channel

Online

Offline

By Geography

North America

USA

Canada

Mexico

South America

Brazil

Argentina

Others

Europe

Germany

France

United Kingdom

Spain

Others

Middle East and Africa

Saudi Arabia

Israel

Others

Asia Pacific

China

Japan

South Korea

India

Others

Frequently Asked Questions (FAQs)

Q1. What will be the packaged beverage market size by 2024?
A1. The packaged beverage market is expected to reach a market size of US$231.996 billion by 2024. 

Q2. What are the growth prospects for the packaged beverage market?
A2. The global packaged beverage market is expected to grow at a CAGR of 2.40% during the forecast period. 

Q3. What is the size of the global packaged beverage market?
A3. Packaged Beverage Market was valued at US$201.237 billion in 2018. 

Q4. What factors are anticipated to drive the packaged beverage market growth?
A4. The rising worldwide prevalence of eating ready-to-eat or Packaged products is expected to be a major driver of the global Packaged beverages market. 

Q5. Which region holds the largest market share in the packaged beverage market?
A5. Geographically, Asia Pacific is projected to hold a substantial share in the packaged beverage market owing to the presence of developing economies like China and India coupled with the rising household spending.