The term drink industry or Beverage industry is described as a globally grouped organization that supplies drinks and Beverages of all types. It is classified into Alcoholic and Non-Alcoholic Beverages. These combined form the Beverage Market.
The Market size of the U.S Beverage Industry (Non-Alcoholic) recorded in 2022 was more than US$ 225.6 Billion in revenue. Regarding Functional Beverages, the market size captured was valued at US$ 129.31 Billion in 2021 and is projected to hit US$ 281.5 by 2030. North America captured 44% of the Market share in 2021, which will grow more in 2022.
Functional Beverages are mostly the composition of artificial and non-traditional ingredients that include raw fruits, probiotics, minerals, and herbs. It positively affects the human body and mind providing health benefits superior to their nutritional value.
The main driving factors for the market expansion are consumers’ inclination towards a healthy lifestyle and the rising number of fitness enthusiasts. Moreover, the Distribution channel plays a crucial role in the evolution of the Functional beverage market. Thus supermarkets, hypermarkets, and specialty stores are considerably driving the markets toward growth.
The Global Non-Alcoholic Beverage Market added a valuation of US$ 342.47 Billion in 2021, which grew to US$ 370.25 Billion in 2022 at a Compound Annual Growth Rate (CAGR) of 8.6%.
Due to the outburst of the COVID-19 Pandemic Worldwide, the sale and consumption of soft drinks faced an unpleasant downfall. As per the latest trends, the inception of Nutritious Beverages will elicit market growth. Instead of Traditional soft drinks, consumers are opting for new and healthier alternatives, especially the millennials. The endorsement of Innovative Beverages to support the Hydration of the Human Body will undoubtedly boost the growth. For instance, RTD Coffee/Tea became a prevailing trend recently.
The Global Alcoholic Beverage Market captured a market size of US$ 560.06 Billion, the largest among all Beverage Market categories. The main types of Alcoholic Beverage markets include Beer, Brandy, and Wine, Spirits. Off-channel and On channel trades are made available for these products.
Some main players in Functional Beverages and Non-Alcoholic Beverage Market are Coca-cola, Redbull GmbH, Nestle S.A., Pepsico, Inc. Danone. S.A., Their products include soft drinks, Energy drinks, Syrups, Aerated drinks, Mineral waters, squashes, and stimulating drinks
Some key players in Alcoholic beverages are Anheuser Busch InBev SA, Carlsberg AS, Asahi Group Holdings LTD, Deschutes Brewery, Constellation Brands Inc., Bells Brewery Inc., and D.G. Yuengling and Son Inc.
Our Food and Beverage category segmentation encompasses:
Food and Beverage Additives & Supplements
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Food Services and Hospitality
Processed & Frozen Foods
Agriculture & Agri Products