This quarter, we’re quenching your thirst for knowledge on the beverage industry. Today, the global beverage market, which reached $3.56 trillion in 2023, offers a wide variety of flavors, functions and experiences, many of which are influenced by health-conscious and environmentally aware consumers. Its projected annual growth rate of 4.26% over the next five years and a potential market volume of $4.39 trillion pave the way for further innovation in this growing industry. From non-alcoholic beer to prebiotic beverages to energy drinks, it’s clear the era of standard sodas and predictable fruit juices is over. Source: Mordor Intelligence |
341 drink calories are consumed by adults on average each day. Source: Zippia |
What’s Driving Growth?
Energy drink revenue in the U.S. has increased 13% over the last five years.*
- The sale of ready-to-drink (RTD) alcoholic beverages has been growing. It includes a wide range of products including wine spritzers, hard seltzers and premixed cocktails.**
*Source: IBISWorld
**Source: Overproof