Global Beverage Market Set to Expand to 2028 Amid Shifting Consumer Preferences and Health-Conscious Trends

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

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*Attachment*

· Global Beverage Market

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