Worldwide beverage industry overview |
Posted: July 27, 2021 |
You can’t deny the success of development over the beverage industry together in quality and quantity. And even the damage that covered all of the industry due to the Covid-19, was no excuse to the booming increase in sales and ensured the development over the years. If we look on to a statistics more carefully, some particular sorts of beverage below to get more clearer picture of that remarkable progression:
What is more today, being an element of the beverage industry has never been better. And in this article we will have a good terms of why this is: largest distributors, development, and essential role of beverage industry. Most of beverage companies, gaining lots of outdoor experience, are always aware of the products that suits them most. And of course this product line must fit into the company's strategy to satisfy not only the company shortlist but also the customer’s taste as well.
Non-alcohol drinks Apart from the beloved alcoholic, beverage customers deserve a considerable favor for non-alcoholic products due to their health benefits and diversified flavors. Soft drink: It makes up the largest proportion of the market share among non-alcoholic beverage distribution. The soft drinks can serve broader customer segments since they carry more flavors with abundant choices.
Is the beverage industry growing? According to the Statista Research Department statistics, from 10 years from 2009 to 2018, global beverage market volume witnessed a constant increase of more than 300 million liters in sales (from 696.1 to 994.1). As we from the table above the numbers are rising and the overall growth in the future is just a matter of time. The beverage industry contains two main categories, and each of them forecasts to reach a positive number in market value: This number rises and will continue to grow in the future with one of the most significant market shares among businesses. Alcoholic segment: USD 647.7 billion in 2023 (according to Grand view research, 2017) In 2020, Businesswire published a research report that the beverage market will see growth by approximately 6 billion USD during the forecast period 2020-2024, processing over 3% of CAGR (Compound annual growth rate). The market size of the general beverage industry according to the region (2021). Credit: Lucintel Consumption and growth trend Non- Alcoholic beverage Being aware of the importance of a healthy diet, beverage customers pay more attention to the non-alcoholic product lines. Moreover, the rise in this category has a more significant amount compared to the alcoholic segment. Some trendy products should be listed, such as juice, bottled water, carbonated soft drinks, coffee, or tea. As can be seen, most of them possess a menu of necessary nutrients, health benefits or a typical function for clients’ health development. Annual consumption of Non-alcoholic beverage among a decade from 2011 to 2021 Alcoholic beverages Despite the considerable number increasing during the years, the alcoholic beverages industry accounts for a booming consumption in some countries, especially in South-est Asia. Three leading countries are Vietnam, China and India, made up of 11.3% to nearly 90% during the given period. By contrast, there is a slight decrease in the average liters consumed by a person in the developed countries such as Australia (-14.4%), Canada (-10.8%) and the United Kingdom (-7.3%). Impacts of Covid-19 epidemic on the beverage market From the beginning stage of Covid-19, the beverage industry had to deal with both the plummet in consumption in almost all categories and the disrupted supply chains. The in-house consumption has increased considerately. However, the out-of-home consumption, which brought the largest profit margin, decreased. Restaurants are rapidly losing their business, and it is predicted that over ? of all restaurants will not succeed in the long term post-COVID-19. Those who remain open now make a mere 20% of their typical sales via takeout and delivery. In 2020, it is estimated that one-third of food and beverage owners lost their businesses in the epidemic time. Among them, a lot of companies had been interrupted or closed by themselves. The left could only be made up with 20% compared with usual typical sales. Nevertheless, there is still a positive increase in some specific favorite products that we inform below. To sum up, despite the high mutual competitiveness among segments, the beverage industry is considered a potential market with a promising future. As can be clarified above, we have provided you a general overview of the beverage industry by related statistics for sales revenue, market share, and estimated growth. From that, you can get the entire picture of both current and future product trends to obtain the purpose of satisfying customers and maximizing their great experiences.
|
||||||||||||||||||||||||
|