Global Beverage Market Size, Share, Opportunities, And Trends By Type (Alcoholic Beverages, Non-Alcoholic Beverages (Bottled Water, Carbonated Soft Drinks, Fruit Juice, Milk (Dairy, Almond, Soy, Rice, Coconut, Cashew, Others))), By Packaging Type (Cans, Bottles, Others), By Distribution Channel (Online, Offline (Supermarkets, Departmental Stores, Convenience And Independent Stores, Foodservice)), And By Geography – Forecast From 2024 To 2029

The global beverage market is projected to rise at a compound annual growth rate (CAGR) of 4.33% to reach a market valuation of US$2,213.306 billion by 2029, from US$1,645.083 billion in 2022.

The beverage market is expected to experience moderate growth over the forecast period, driven by changing consumer preferences towards ready-to-drink beverages, especially in developing and emerging markets. Furthermore, increasing consumption of alcoholic beverages per capita and a preference for premium products are likely to contribute to market expansion.

The global beverage market is segmented by packaging type, including cans, bottles, and other options. Cans are favored for their lightweight, portable nature and easy-to-open design, making them ideal for on-the-go consumption.

Bottles, on the other hand, offer versatility as they can be crafted from various materials such as glass, plastic (PET, HDPE), and metal, catering to different beverage types. Other packaging options, such as paperboard cartons, are commonly used for packaging milk, juice, and similar beverages.

Moreover, consumers are increasingly opting for healthier beverage choices due to rising awareness of lifestyle diseases, heightened health consciousness, and growing disposable income levels. For instance, according to the U.S. Bureau of Economic Analysis, personal disposable income rose from US$57,577 in 2022 to US$61,242 in 2023.

Additionally, there is a rising demand for beverages with lower alcohol content, particularly among millennials and baby boomers. The availability of a broader range of products with improved flavors has boosted sales of low-alcohol beverages, providing consumers with greater options to align with their preferences.

Market Drivers:

• Increasing adoption of fruit-based beverages is anticipated to propel market growth

The global beverage market is projected to rise at a moderate growth rate. Market dynamics have been greatly affected by consumers' shifting choices for healthier products, such as low-calorie and functional drinks. Furthermore, the demand for portable and ready-to-drink drinks has increased due to the expansion of convenience-driven lifestyles, which has prompted improvements in formulations and packaging. The demand for upscale and decadent beverages has increased due to economic expansion in emerging nations and rising disposable incomes.

However, with projections of a healthy growth rate, the market is expected to rise steadily with growing urbanization in nations like India and China. Furthermore, growing health concerns about the sugar content of packaged beverages may eventually lead to an increase in demand for fruit-based beverages with lower sugar content.

For instance, as per the Centers for Disease Control and Prevention, 38.4 million people worldwide have diabetes, while 97.6 million adults who are at least 18 years old have prediabetes. Furthermore, according to the Estonian Ministry of Social Affairs, based on absolute alcohol content, Estonian citizens drank an average of 11.2 litres (three US gallons; 2.5 imperial gallons) of alcohol per adult in 2022.

There was also a small increase in the consumption of beer, wine, and other mild alcoholic beverages, but the main cause of the increase in consumption was the increase in strong alcoholic beverages like whisky, gin, and liqueur.

Global beverage market segmentation by distribution channel into online and offline supermarkets, departmental stores, convenience and independent stores, and food service.

The global beverage market is segmented by distribution channel into online and offline channels, including supermarkets, departmental stores, convenience and independent stores, and food service establishments.

Online channels offer consumers the convenience of ordering beverages from the comfort of their homes and having them delivered. Certain online retailers may provide a broader selection of beverages compared to physical stores, particularly specialty or niche brands. Subscription services that deliver beverages directly to consumers' homes are also gaining popularity.

Offline channels, such as supermarkets, serve as one-stop destinations for groceries and household items, making them key players in beverage sales. They offer a diverse range of beverages, accommodating various brands, types, and price points. While department stores may not be the primary beverage destination, some feature dedicated grocery sections stocking popular beverage brands.

Convenience and independent stores, often situated in neighbourhoods or near gas stations, play a crucial role in facilitating quick beverage purchases for consumers on the go.

Lastly, the food service channel encompasses restaurants, cafes, and other establishments that offer beverages for on-premise consumption or takeout. These establishments contribute significantly to beverage sales, providing consumers with options for enjoying beverages outside the home.

The market is projected to grow in the North American region.

There is an ongoing trend towards healthier and more sustainable beverage options like plant-based milk, energy drinks, functional beverages, and sugar-free drinks. An increasing demand for convenient and on-the-go beverage options is being witnessed which is expected to drive the market growth over the forecast period. For instance, Bragg Live Food Products, a well-known producer of apple cider vinegar products, and Ardagh Group, a leading producer of glass containers, announced a partnership to introduce a new 16oz glass bottle for its line of apple cider vinegar beverages.

Furthermore, e-commerce provides a convenient shopping experience for customers, who can purchase their favourite beverages from the comfort of their homes, with the added convenience of delivery services. This shift to online shopping has been accelerated by the pandemic, which will further aid beverage market expansion.

Market Developments:

• January 2023 -  Danone North America, a pioneer in the plant-based market, announced the boosting of their plant-based creamer section in response to this expansion by introducing the new Silk Mocha Almond Creamer and So Delicious Dairy Free French Vanilla Coconutmilk Creamer.
• December 2022 - Fresh Del Monte debuted a line of energy drinks in conjunction with Scotland-based beverage maker, Old Tom Gin. The beverages in the 'A Kick of Fruit' line include at least 20% actual fruit juice and no added sugar.
• October 2022 - Tata Consumer Products (TCPL) joined the fruit-based drinks sector with the launch of Fruski Juice N Jelly drink through its subsidiary NourishCo. The new introduction is in keeping with NourishCo's goal of expanding its product portfolio and becoming a prominent player in the non-alcoholic beverages category. India's ready-to-drink sector is greatly underserved.

Key players:

• Danone -  Danone is an innovator in cutting-edge food, beverages, and targeted nutrition that may enhance the well-being of consumers, making it one of the leading beverage companies.
• Coca-Cola Company - The Coca-Cola Company provides thousands of different beverages worldwide under more than 200 brands, ranging from coffee and tea to soft drinks and water.
• Pepsico - Pepsico is one of the leading beverage companies around the globe. PepsiCo's assortment of meals and drinks reflects the diversity of consumer preferences worldwide.

Global Beverage Market Scope:

 

Report Metric	Details
Market Size Value in 2022	US$1,645.083 billion
Market Size Value in 2029	US$2,213.306 billion
Growth Rate	CAGR of 4.33% from 2022 to 2029
Study Period	2019 to 2029
Historical Data	2019 to 2022
Base Year	2023
Forecast Period	2024 – 2029
Forecast Unit (Value)	USD Billion
Segments Covered	Type Packaging Type Distribution Channel Geography
Companies Covered	Unilever The Coca-Cola Company Nestle Pepsi Co Inc Simply Better Brands Corp. (SBBC) (Jones Soda Co.)
Regions Covered	North America, South America, Europe, Middle East and Africa, Asia Pacific
Customization Scope	Free report customization with purchase

 

Segmentation:

• By Type
  • Alcoholic Beverages
  • Non-Alcoholic Beverages
    • 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
      • Supermarkets
      • Departmental Stores
      • Convenience and Independent Stores
      • Foodservice
• By Geography
  • North America
    • USA
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • Germany
    • France
    • UK
    • Italy
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Indonesia
    • Taiwan
    • Others

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1. INTRODUCTION

1.1. Market Overview

1.2. Market Definition

1.3. Scope of the Study

1.4. Market Segmentation

1.5. Currency

1.6. Assumptions

1.7. Base, and Forecast Years Timeline

1.8. Key Benefits to the Stakeholder

2. RESEARCH METHODOLOGY  

2.1. Research Design

2.2. Research Processes

3. EXECUTIVE SUMMARY

3.1. Key Findings

4. MARKET DYNAMICS

4.1. Market Drivers

4.2. Market Restraints

4.3. Porter’s Five Forces Analysis

4.3.1. Bargaining Power of Suppliers

4.3.2. Bargaining Power of Buyers

4.3.3. Threat of New Entrants

4.3.4. Threat of Substitutes

4.3.5. Competitive Rivalry in the Industry

4.4. Industry Value Chain Analysis

5. GLOBAL BEVERAGE MARKET, BY TYPE

5.1. Introduction

5.2. Alcoholic Beverages

5.2.1. Market Trends and Opportunities

5.2.2. Growth Prospects

5.2.3. Geographic Lucrativeness

5.3. Non-Alcoholic Beverages

5.3.1. Market Trends and Opportunities

5.3.2. Growth Prospects

5.3.3. Geographic Lucrativeness

5.3.4. Bottled Water

5.3.5. Carbonated Soft Drinks

5.3.6. Fruit Juice

5.3.7. Milk

5.3.7.1. Dairy

5.3.7.2. Almond

5.3.7.3. Soy

5.3.7.4. Rice

5.3.7.5. Oat

5.3.7.6. Cashew

5.3.7.7. Coconut

5.3.7.8. Others

6. GLOBAL BEVERAGE MARKET, BY PACKAGING TYPE

6.1. Introduction

6.2. Cans

6.2.1. Market Trends and Opportunities

6.2.2. Growth Prospects

6.2.3. Geographic Lucrativeness

6.3. Bottles

6.3.1. Market Trends and Opportunities

6.3.2. Growth Prospects

6.3.3. Geographic Lucrativeness

6.4. Others

6.4.1. Market Trends and Opportunities

6.4.2. Growth Prospects

6.4.3. Geographic Lucrativeness

7. GLOBAL BEVERAGE MARKET, BY DISTRIBUTION CHANNEL

7.1. Introduction

7.2. Online

7.2.1. Market Trends and Opportunities

7.2.2. Growth Prospects

7.2.3. Geographic Lucrativeness

7.3. Offline

7.3.1. Market Trends and Opportunities

7.3.2. Growth Prospects

7.3.3. Geographic Lucrativeness

7.3.4. Supermarkets

7.3.5. Departmental Stores

7.3.6. Convenience and Independent Stores

7.3.7. Foodservice

8. GLOBAL BEVERAGE MARKET, BY GEOGRAPHY

8.1. Introduction

8.2. North America

8.2.1. By Type

8.2.2. By Packaging Type

8.2.3. By Distribution Channel

8.2.4. By Country

8.2.4.1. USA

8.2.4.1.1. Market Trends and Opportunities

8.2.4.1.2. Growth Prospects

8.2.4.2. Canada

8.2.4.2.1. Market Trends and Opportunities

8.2.4.2.2. Growth Prospects

8.2.4.3. Mexico

8.2.4.3.1. Market Trends and Opportunities

8.2.4.3.2. Growth Prospects

8.3. South America

8.3.1. By Type

8.3.2. By Packaging Type

8.3.3. By Distribution Channel

8.3.4. By Country

8.3.4.1. Brazil

8.3.4.1.1. Market Trends and Opportunities

8.3.4.1.2. Growth Prospects

8.3.4.2. Argentina

8.3.4.2.1. Market Trends and Opportunities

8.3.4.2.2. Growth Prospects

8.3.4.3. Others

8.3.4.3.1. Market Trends and Opportunities

8.3.4.3.2. Growth Prospects

8.4. Europe

8.4.1. By Type

8.4.2. By Packaging Type

8.4.3. By Distribution Channel

8.4.4. By Country

8.4.4.1. Germany

8.4.4.1.1. Market Trends and Opportunities

8.4.4.1.2. Growth Prospects

8.4.4.2. France

8.4.4.2.1. Market Trends and Opportunities

8.4.4.2.2. Growth Prospects

8.4.4.3. UK

8.4.4.3.1. Market Trends and Opportunities

8.4.4.3.2. Growth Prospects

8.4.4.4. Italy

8.4.4.4.1. Market Trends and Opportunities

8.4.4.4.2. Growth Prospects

8.4.4.5. Others

8.4.4.5.1. Market Trends and Opportunities

8.4.4.5.2. Growth Prospects

8.5. Middle East and Africa

8.5.1. By Type

8.5.2. By Packaging Type

8.5.3. By Distribution Channel

8.5.4. By Country

8.5.4.1. Saudi Arabia

8.5.4.1.1. Market Trends and Opportunities

8.5.4.1.2. Growth Prospects

8.5.4.2. UAE

8.5.4.2.1. Market Trends and Opportunities

8.5.4.2.2. Growth Prospects

8.5.4.3. Others

8.5.4.3.1. Market Trends and Opportunities

8.5.4.3.2. Growth Prospects

8.6. Asia Pacific

8.6.1. By Type

8.6.2. By Packaging Type

8.6.3. By Distribution Channel

8.6.4. By Country

8.6.4.1. China

8.6.4.1.1. Market Trends and Opportunities

8.6.4.1.2. Growth Prospects

8.6.4.2. Japan

8.6.4.2.1. Market Trends and Opportunities

8.6.4.2.2. Growth Prospects

8.6.4.3. India

8.6.4.3.1. Market Trends and Opportunities

8.6.4.3.2. Growth Prospects

8.6.4.4. South Korea

8.6.4.4.1. Market Trends and Opportunities

8.6.4.4.2. Growth Prospects

8.6.4.5. Indonesia

8.6.4.5.1. Market Trends and Opportunities

8.6.4.5.2. Growth Prospects

8.6.4.6. Taiwan

8.6.4.6.1. Market Trends and Opportunities

8.6.4.6.2. Growth Prospects

8.6.4.7. Others

8.6.4.7.1. Market Trends and Opportunities

8.6.4.7.2. Growth Prospects

9. COMPETITIVE ENVIRONMENT AND ANALYSIS

9.1. Major Players and Strategy Analysis

9.2. Market Share Analysis

9.3. Mergers, Acquisitions, Agreements, and Collaborations

9.4. Competitive Dashboard

10. COMPANY PROFILES

10.1. Unilever

10.2. The Coca-Cola Company

10.3. Nestle

10.4. Pepsi Co Inc

10.5. Simply Better Brands Corp. (SBBC) (Jones Soda Co.)

10.6. Danone

10.7. Appalachia Brewing Company

10.8. GCMMF (Amul) 

10.9. Keurig Dr Pepper Inc. 

10.10. Bacardi Limited

10.11. Carlsberg Breweries A/S

10.12. Heineken N.V. (United Breweries Group)

10.13. Suntory Holdings Limited

10.14. Constellation Brands Inc. 

10.15. Inbrew Holdings Pte Ltd (Molson Coors Brewing Company)

10.16. Brown-Forman Corporation

10.17. Redbull

10.18. VINUT

10.19. Diageo

10.20. Anheuser-Busch InBev

10.21. Starbucks

10.22. Nongfu Spring

10.23. Monster Beverage

Unilever

The Coca-Cola Company

Nestle

Pepsi Co Inc

Simply Better Brands Corp. (SBBC) (Jones Soda Co.)

Danone

Appalachia Brewing Company

GCMMF (Amul) 

Keurig Dr Pepper Inc. 

Bacardi Limited

Carlsberg Breweries A/S

Heineken N.V. (United Breweries Group)

Suntory Holdings Limited

Constellation Brands Inc. 

Inbrew Holdings Pte Ltd (Molson Coors Brewing Company)

Brown-Forman Corporation

Redbull

VINUT

Diageo

Anheuser-Busch InBev

Starbucks

Nongfu Spring

Monster Beverage