Beverage Market is estimated to reach US$2,213.306 billion by 2029 at a CAGR of 4.33%

The beverage market is anticipated to grow at a CAGR of 4.33% from US$1,645.083 billion in 2022 to US$2,213.306 billion by 2029.

NOIDA, UTTAR PARDESH, INDIA, April 12, 2024 /EINPresswire.com/ -- According to a new study published by Knowledge Sourcing Intelligence, the beverage market is projected to grow at a CAGR of 4.33% between 2022 and 2029 to reach US$2,213.306 billion by 2029.

Beverages are a form of liquid materials specifically designed for the consumption of in which water is an important beverage. These beverages are segregated into two types alcoholic and non-alcoholic and the types of beverages are beer, wine, whiskey, soft drinks, and fruit juice. The beverages are packaged in various materials which are packaged safely and for longer duration consumption as the materials include cans, paperboard, and glass materials. Growing innovations in the field of marketing and new product development is the primary driving force behind the global beverage market growth.

For instance, in June 2023 Pepsico revealed an article about product innovation, It states that the company has partnered with ImpacX to initiate the product called Gatorde Smart Gx Bottle in the year 2022. The product consists of innovative samrtcap technology, which is patented by PepsiCo Company, and converts nature-friendly bottles into digital gadgets that observe the hydrated information about the individual.

Beverages refer to any liquid format that is consumed other than water. This wiser segregation includes a wide range of drinks such as coffee, soft drinks, juices, and alcoholic beverages. The beverage industry establishes a variety of preferences and requirements, providing choices for hydration, relaxation, and even health benefits.

Numerous product launches and collaborations are taking place in the market, thereby increasing the global beverage market growth.

• For instance, in October 2023 Blue Diamond Growers, a company from California which has specialty in almonds, launched a new product called “Almond & Oat Blend. The product isa merger of both oat milk and almond presence. As the drinks enhance the content of calcium upto 50% than normal dairy milk, reduced sugar, with very negligible calories when compared with other products in the market.

• Lezi Nutrition, incorporated by Michelle Obama, which resembles the problems associated with sugar beverages introduced a product called Plezi Fizz. The product is originated from fruit designated to adult by providing a healthier optinal drink aprt from carbonated drinks in the market

Access sample report or view details: https://www.knowledge-sourcing.com/report/global-beverage-market

The global beverage market, based on type is segmented into two categories namely alcoholic beverages, non-alcoholic beverages. Bottled water is expected to account for a major share of the global beverage market. Bottled water is presently an essential drink across the market due to its impact on consumers with respective dehydration effects and benefits of drinking water.

The global beverage market, based on packaging type is segmented into three categories namely cans, bottles, and others. Cans is expected to account for a major share of the global beverage market. Due to cans are good to carry and hold the cold for a longer duration.

The global beverage market, based on distribution channels is segmented into two categories namely online and offline. Offline is expected to account for a major share of the global beverage market. Physical stores continue to be preferred by consumers, as these physical stores offer convenience and have a trust towards the purchase of every product with easy replacement benefits.

Based on geography, the market for global beverage is expanding significantly in the North America region due to favourable factors. In countries like America, Canada, and Mexico there is a growing need for global beverage in several industries, including food and services, and beverage manufacturing. This demand is being driven by these nations. Due to health-conscious individuals are in search of creative alternatives, as the need for quick and easy grab-and-go beverages is driven by hectic schedules.

The research includes several key players from the beverage market, such as 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, and Monster Beverage.

The market analytics report segments the global beverage market as follows:

• By Type

o Alcoholic Beverages
o Non-Alcoholic Beverages

• Bottled Water
• Carbonated Soft Drinks
• Fruit Juice
• Milk

o Dairy
o Almond
o Soy
o Rice
o Oat
o Cashew
o Coconut
o Others

• By Packaging Type

o Cans
o Bottles
o Others

• By Distribution Channel

o Online
o Offline

• Supermarkets
• Departmental Stores
• Convenience and Independent Stores
• Foodservice

• By Geography

o North America

• United States
• Canada
• Mexico

o South America

• Brazil
• Argentina
• Others

o Europe

• United Kingdom
• Germany
• France
• Spain
• Others

o Middle East and Africa

• Saudi Arabia
• UAE
• Israel
• Others

o Asia Pacific

• Japan
• China
• India
• South Korea
• Indonesia
• Thailand
• Others

Companies Profiled:

• 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

Explore More Reports:

• Soft Drinks Market: https://www.knowledge-sourcing.com/report/soft-drinks-market

• Instant Beverage Premix Market: https://www.knowledge-sourcing.com/report/instant-beverage-premix-market

• Fermented Drinks Market: https://www.knowledge-sourcing.com/report/fermented-drinks-market

Ankit Mishra
Knowledge Sourcing Intelligence LLP
+1 850-250-1698
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