The beverage industry is competitive and offers a wide range of alcoholic and non-alcoholic products, including water, beer, dairy beverages, juices, energy and sports drinks, and wine.

As the latest beverage industry statistics indicate, most sectors are established in the market, but there are still opportunities for the growth of new brands to succeed and appeal to modern consumer preferences, drive innovation, and navigate the COVID-19-related changes.

Here are the latest market trends and forecasts for the beverage industry in the US and around the globe.

Global Beverage Industry Facts

1. By 2024, the global beverage industry will reach $1.8 trillion.

(AP News)

Recent statistics reveal that the drinks industry is currently worth $1.5 trillion. By 2024, it will grow at an annual rate of 3.1%, reaching $1.8 trillion. This expansion is shaped by new trends across the industry, as consumers increase their preference for healthy drinks, premium alcohol, ready-to-drink beverages, and non-alcoholic spirits.

2. The global food and beverage market is expected to reach $7.5 trillion by 2023.

(Business Wire, Statista)

The international food and beverage market was estimated at $6.1 trillion in 2020. According to U.S. food and beverage industry statistics, America contributes about $26 billion to the global market.

Between 2019 and 2020, it grew at a relatively slow compound annual growth rate of 2.9% due to COVID-19 restrictions. The market is expected to recover, however, and grow at a CAGR of 7% between 2021 and 2023.

3. The Asia Pacific is the largest food and beverage market globally.

(Business Wire)

Current trends in the beverage industry show that the Asia Pacific dominates the sector, accounting for 42% of the global market, while North America contributes the second-largest share, at 22%. Products currently considered within the food and beverage market are beverages, food, pet food, and tobacco products.

4. The global alcoholic beverage market is estimated at $1.49 trillion.

(Statista)

Compared to 2019, the yearly revenue for the global alcoholic beverage market has decreased by $200 billion as a result of stay-at-home orders and closures of restaurants and bars.

The market is estimated to start recovering in 2022, where it’s expected to surpass pre-pandemic revenues. As a result, statistics indicate that the global alcohol industry will be worth $2.2 trillion by 2025.

5. The global CBD-infused beverage market share will grow at an annual rate of 27.5% between 2021 and 2026.

(News Azi)

The market size of CBD-infused beverages is expected to grow from 3,400 million in 2020 to 14,600 million by 2026. North America is the fastest-growing continent for the CBD-infused beverage market, especially with the onset of legalization across Canada and the US.

6. The non-alcoholic beverages market was valued at $724 billion in 2020.

(Statista)

The non-alcoholic beverage industry growth rate slowed down during the pandemic, decreasing from $900 billion in 2019 to $724 billion in 2020 due to global quarantine measures. Like with other markets that suffered due to F&B closures over 2020, the industry is expected to recover to $1.2 trillion by 2027.

7. The international tea market is valued at $220.7 billion.

(Statista)

The latest beverage industry statistics reveal that the international tea market is worth $220.7 billion. It’s expected to grow at a CAGR of 6.75% and reach a value of $266.7 billion by 2025. The green tea industry is the most significant contributor to this sector’s growth.

8. In 2020, the global energy drink industry reached $57.4 billion in sales.

(Investopedia)

The annual energy beverage industry growth rate is set to hit 7% by 2025. Due to increased affluence, participation in sports activities, urbanization, and a greater network of sales channels, these alternatives to the traditional cup of coffee are on the rise.

9. Anheuser-Busch InBev is the top beverage company in the world.

(BevIndustry)

Anheuser-Busch InBev is a beverage company from Belgium that produces beer, flavored malt beverages, and cider. The company is an industry leader, according to recent beverage industry sales reports, with $46.8 billion reported revenue for 2020.

Nestle SA and The Coca-Cola Company come in second and third place generating $43.4 billion and $33 billion, respectively.

10. In 2020, Brazil produced more than 61 million 60-kilogram coffee bags.

(Statista)

Brazil has more than 300,000 coffee farms spread over the country, making it the largest coffee producer in the world. Brazil accounts for 36% of the world’s coffee production, and according to the United States Department of Agriculture, Brazil produced 61.63 million 60-kilogram coffee bags, of which about 70% is Arabica in 2020

Non-Alcoholic Beverage Industry Statistics

11. Americans consumed 26.7 million 60-kilogram coffee bags between 2019 and 2020.

(Statista)

In the 2019/2020 fiscal year, Americans consumed 26.7 million 60-kilogram coffee bags. According to beverage consumption data from 2019, this is a decrease from the 27.16 million bags consumed in the previous year.

Interestingly, coffee statistics reveal that the majority (41%) of Americans use drip coffee makers to brew their coffee.

12. The US non-alcoholic drinks market revenue is $414 billion.

(Statista)

As of 2021, the non-alcoholic beverage industry attributed $414 billion to the total U.S. beverage market size. The largest sector in the industry is soft drinks accounting for $310 billion of the total revenue and is predicted to grow at a CAGR of 5.33% leading up to 2026.

13. The Coca-Cola Company controls 44.9% of the US carbonated soft drinks market.

(Statista)

The Coca-Cola Company is the leading retailer in carbonated soft drink sales in America, controlling 44.9% of the market. PepsiCo comes in second, with nearly half that, at 25.9%, and Keurig’s Dr. Pepper comes in third with a 21.1% share.

14. Lipton Pure Leaf is the leading ready-to-drink tea brand in America.

(Statista)

Lipton Pure Leaf is the best-selling RTD tea brand in the US, exceeding $900 million in sales every year. Lipton is also one of the most valuable soft drink brands, valued at $9.1 billion. The brand’s main competitor, Arizona, is a distant second with $597 million in sales, and Gold Peak ranking third with a revenue of $466 million.

15. People consume 465 billion liters of bottled water per year.

(Statista)

Bottled water is the most popular drink in the world, statistics reveal. People consume 465 billion liters a year of bottled water, surpassing both alcoholic and non-alcoholic beverages.

In developed countries, bottled water is consumed for greater convenience and purity, whereas in less developed countries, its use is a solution to a lack of potable tap water.

16. 36.53 billion cases of carbonated soft drinks are sold globally every year.

(Statista, Statista)

The latest soft drink sales statistics reveal that 36.53 carbonated soft drink cases are sold worldwide every year. Mexico is the country with the highest rate of carbonated soft drink consumption (630 8-ounce servings per capita), and the US is ranked a close second. The overall consumption of soft drinks has reached over 160 billion cases worldwide.

17. The consumption of soft drinks per capita in the US has decreased by 25%.

(Statista)

Soft drinks consumption statistics show that Americans are reducing how much soda they drink. According to the latest reports, the estimated consumption is 38.87 gallons, decreasing by a quarter over the last two decades.

Greater awareness of the health impacts of consuming carbonated beverages that are high in processed sugar is a leading reason for this decline. That said, the US still has a high consumption rate, with more than 50% of people reporting they consume soft drinks at least a few times a week.

18. The juice sector makes $120 billion in revenue annually.

(Statista)

According to the latest beverage industry statistics, the US is the biggest contributor to the juice sector, reporting $23,314 million in revenue last year. By 2026, the market is predicted to grow at a CAGR of 9.66%, with 32% of spending and 11% of volume consumption attributed to out-of-home consumption.

19. At $1.01 billion, Folgers is the top ground coffee brand.

(Tan Do Beverage)

Folgers Coffee is the top ground coffee brand produced in the US. The brand currently holds 25.13% of the market share. Starbucks comes in second, generating $502 million annual revenue and holding 12.43% of the market.

20. People aged 70+ consume on average 2.18 cups of coffee per day.

(Statista)

According to beverage industry demographics, coffee consumption is more prevalent among older adults. People aged 70+ consume on average 2.18 cups of coffee a day, whereas coffee consumers aged 60-69 drink 2.08 cups.

For comparison, people aged 25 and 29 consume 2.15 cups, and 20-24-year-olds drink 1.5 cups a day. More notably, about half of people aged 18-24 drink coffee, compared to 70% of those aged 60 or older.

Alcoholic Beverage Industry Statistics and Facts

21. Beer is the most profitable product on the alcoholic market, generating $109 billion in revenue in 2021.

(Statista)

The total revenue of the alcoholic drinks sector amounts to $249 billion and is expected to grow at an annual rate of 9.06% by 2025. Beer is the most popular alcoholic drink and represents the largest segment in the industry, attributing to almost half of the revenue each year.

22. In 2020, the retail sales in the US beer industry fell to $100 billion.

(NBWA)

According to alcohol industry statistics, pre-pandemic, the US beer industry sold about $120 billion in beer to consumers through retail establishments. However, due to the 2020 closures of restaurants, stadiums, and bars, sales fell to $100 billion.

23. Corona is the most valuable beer brand globally.

(Brand Finance)

A recent survey found that Corona is the most popular and most valuable beer brand worldwide. The Mexican pale lager has amassed $8.2 billion in brand value. Heineken and Budweiser are close competitors at $6.7 billion and $6.4 billion, respectively.

24. The US beer industry sold 204.8 million barrels of beer in 2020.

(NBWA)

According to the latest beverage industry sales data, the US beer industry shipped an equivalent of 2.8 billion cases of 24,12-ounce containers worldwide.

Additionally, the industry shipped 3.3 million barrels of cider and other fermented products. More than 82% of all US beer is domestically produced, and 18% is imported from more than 100 countries worldwide.

25. Wine accounts for $11.2 billion of the alcoholic beverage market.

(Tan Do Beverage)

The latest US beverage industry statistics reveal that the wine market has increased by 6.4% in 2020. Barefoot, the wine manufactured by E&J Gallo Winery, is the best-selling US table-wine brand, making $673 million in revenue. Sutter Home is the second top-selling wine brand, amassing $397.6 million in sales.

26. Globally, still wine generates $285 billion in revenue.

(Statista)

Forecasts predict the still wine market will grow at a 12.25% CAGR over the next four years, with the most significant portion of the industry’s revenue generated in the US at $41 billion. Globally, still wine production by volume is set to increase by 7% by 2025.

27. The spirits market is valued at $67 billion.

(Tan Do Beverage)

According to the latest spirits industry statistics, the hard liquor market shows strong growth even during the pandemic lockdown.

Of the top four best-sellers on the market, whiskey is the leading beverage in the US spirits market with $2.9 billion in revenue in 2020, closely followed by vodka at $2.2 billion. Rum brought in $672 million and tequila at $662 million.

28. Soju Jinro generates $86.3 million in total sales by volume of beverages.

(The Spirits Business)

Recent beverage industry trends show a general decline in spirit sales, but the Korean Soju Jinro remains the leading hard-liquor worldwide. In 2020, the brand saw a 10.4% growth in sales from $86.3 million to $95.3 million.

White Claw Hard Seltzer climbed to the second spot after noting an astonishing 139.7% increase in sales. McDowell’s No.1 Whisky experienced a 16.4% drop in sales and is now third-ranked globally but still the best-selling Indian whiskey on the market today.

Novelty Beverage Industry Trends

29. The bubble tea industry is expected to reach $4.3 billion by 2027.

(Allied Market Research)

Bubble tea is an innovative beverage made by adding tapioca pearls to frothy tea drinks to diversify the taste and provide texture. Bubble tea, also known as bobba tea or bubble milk tea, was introduced in the 1980s, and now it’s set to reach new heights as statistics predict the industry will grow by almost $2 billion by 2027.

30. Flavored water sales are expected to increase by 42%.

(Statista)

Non-alcoholic beverage industry trends show that the US sales of flavored bottled water have been steadily growing over the past few years and are projected to grow further in the future. In 2019, the sector accounted for $5.64 billion of the beverage industry, and projections are that sales will reach $7.29 billion by 2022.

31. Functional water sales in the US will grow to $5 billion by 2022.

(Nutritional Outlook)

Functional water is one of the biggest soft drinks industry trends. Consumers are embracing water enhanced with nutrients and vitamins as they become more conscientious about their health. This sector was estimated at $1.9 billion in 2018, and it’s expected to reach $5 billion by 2022.

32. By 2025, probiotic beverages will generate $77 billion in sales.

(Forbes)

The increased awareness of the importance of fueling our body with essential vitamins and good bacteria for a healthy gut has driven rapid growth in probiotic beverages. Food and beverage industry trends indicate that drinks like kombucha, water kefir, root beer, and ayran will almost double the revenue by 2025.

33. Ready-to-go cocktails note a 28% year-over-year growth.

(Restaurant Business Online)

Rising at an annual rate of 28%, the RTD cocktail is the fastest-growing segment in the spirits category. Poised to be one of the hottest alcoholic beverage industry trends, the canned cocktail-to-go development growth has accelerated to 171% after the pandemic’s outbreak, and it won’t slow down.

Boasting high-quality ingredients and multiple options like low-calorie, low-sugar, or alcohol, the ready-made cocktails with convenient and sanitary packaging are here to stay.

34. 58% of consumers are drinking more non-alcoholic beverages than before the pandemic.

(Forbes)

Trends in the beverage industry show more than half of consumers are drinking more non-alcoholic beverages compared to pre-pandemic sales, and 61% of consumers say they want a better choice of non-alcoholic drinks.

Whether it’s because many are seeking a healthier lifestyle or want to break up the overconsumption of alcohol during lockdowns, the market for no-ABV or low-ABV has increased by 506% since 2015.

35. The sale of canned wines jumped to $211.4 million in 2020.

(Grand View Research)

The global canned wines market has seen rapid growth as ready-to-go food and beverages become the need of the modern consumer.

In 2012, this industry generated only $2 million in sales, but the rising demand for portable, convenient, and single-serve beverages is shaping the latest beverage industry trends, especially after the coronavirus outbreak. As a result, it’s predicted that the sector will continue to expand at an annual rate of 13.2% between 2021 and 2028.

The Takeaway

The beverage industry is a fast-paced, competitive, and established sector. While many segments already seem to have their staple companies and products, there is still room for innovation and new solutions to the modern consumer’s needs.

As people become more concerned with wellness and return to their on-the-go lifestyles, the beverage industry is adapting to the increasing demand for healthy non-alcoholic drinks and one-serving options. From probiotic kefir water to canned wines, the beverage industry is growing to meet the demands of the new decade.

Frequently Asked Questions (FAQ)

How much is the drinks industry worth?

As of 2018, the global beverage industry was valued at $1.5 trillion and is estimated to grow to $1.8 trillion at a 3.1% CAGR by 2024. The industry’s growth is attributed to the growing consumption of both alcoholic and non-alcoholic drinks and changing consumer preferences for healthier options.

The ready-to-drink beverages, premium alcoholic products, healthier drinks with zero sugar, and non-alcoholic spirits are expected to create ample opportunities for the industry during the forecasted period.

What industry are beverages in?

Beverages are part of the beverage industry, also known as the drink industry. It involves manufacturing drinks such as bottled water, beer, dairy beverages, juices, energy and sports drinks, and wine.

The industry has two major categories: The alcoholic beverage industry, which includes wine, spirits, brewing, and cider; and the non-alcoholic beverage industry, which is comprised of soft drinks, bottled water, juices, coffee, and tea. Water is undoubtedly the most popular drink, followed by tea. Beer is the most consumed alcohol and third most consumed drink.

Who is the largest beverage company?

The largest beverage company worldwide is Anheuser-Busch InBev. Headquartered in Belgium, the multinational drink and brewing company is best known for its beers, ciders, and flavored malt beverages. In 2020, AB InBev generated $46 billion in sales. Nestle SA and The Coca-Cola Company are also among the next largest beverage companies, amassing $43 billion and $33 billion in sales.

Is the beverage industry competitive?

The beverage industry is very competitive. The main competition aspects originate from pricing, packaging, innovation of flavors, additional function, distribution plans, marketing strategies, and more.

Moreover, competition can be vertical, meaning within the same industry but different product types, or horizontal, meaning competition among businesses at the same level. The two most significant factors to competing successfully are offering innovative taste and meeting the consumers’ needs.

How big is the beverage industry?

The beverage industry is growing. The Asia-Pacific region rules the market due to increased disposable income and rapid urbanization. Currently, the region accounts for 42% of the global market. In comparison, North America is a distant second, holding 22% of the market.

The alcoholic segment is estimated at $1.49 trillion and is expected to reach $2.2 trillion by 2025. According to the latest beverage industry statistics, the non-alcoholic market value is $724 billion and is projected to peak at $1.2 trillion by 2027.

Sources:

1. AP News
2. Allied Market Research
3. Business Wire
4. Brand Finance
5. BevIndustry
6. Forbes
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8. Grand View Research
9. Investopedia
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11. NBWA
12. Nutritional Outlook
13. Restaurant Business Online
14. Statista
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