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Quarterly Industry Bulletin

Beverages

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

Top Beverage Producers

Market Position Icon
  • Nestlé
  • Anheuser-Busch InBev
  • The Coca-Cola Company
  • PepsiCo

Source: Beverage Industry

Other Major Impacts Affecting the Industry

  • Impact IconThe U.S. is becoming more diverse and is driving demand for exotic flavors once difficult to find on American shelves. Examples include horchata, boba tea and kombucha.

Source: NielsenIQ

Woman working at wine store

Packaging Trends and Influences Within This Segment

  • Single-serve packaging for on-the-go consumption has returned.*
  • Family sizes and multipacks that help families focus on value are big for home consumption.*
  • Connected packaging allows consumers to receive personalized promotions, messages and additional product information as well as to learn how to recycle the packaging from their mobile device.*
  • The trend towards sustainable packaging is ongoing. It addresses environmental issues and also meets the increasing consumer demand for ethical and eco-friendly business practices.**

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*Source: Packaging Strategies
**Source: IBISWorld

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