Press release
Beverage Market to Witness Exponential Growth by 2024 - 2031 | Aurora Inc., Aphria Inc., Canopy Growth Corporation
Beverage Market
Global beverage market is estimated to be valued at USD 205.1 Mn in 2024 and is expected to reach USD 849.3 Mn by 2031, exhibiting a compound annual growth rate (CAGR) of 22.5% from 2024 to 2031.
Market Dynamics:
The beverage market is expected to witness significant growth over the forecast period owing to increasing number of countries legalizing for medical and recreational use. For instance, Canada fully legalized adult-use in October 2018 while several US states have legalized its medical and recreational use in recent years. Additionally, emerging social acceptance of -infused products is also a major factor driving market growth. beverages offer an alternative method of consumption compared to smoking, and thus attract more consumers, especially the younger demographics. Furthermore, innovations by major beverage companies to introduce new product varieties in this category will further boost the market during the forecast period.
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Beverage Market Opportunity
Launch of Infused Beverages as Healthy Alternatives
While regulations for content are stringent, regulations for are more relaxed allowing higher per-serving contents. This provides an opportunity for beverage brands to launch -infused beverages targeting their therapeutic benefits like relaxation, recovery etc without intoxicating effects. Such beverages have potential to reach a wider consumer base as health/wellness drinks. They can leverage the growing acceptance of and shift consumer perception around from just intoxication to well-being. This represents a substantial market opportunity.
Beverage Market Trends
Innovation of Novel Beverage Formats and Flavors
To appeal to different consumer segments and occasions of consumption, beverage manufacturers are innovating diverse new product forms beyond the basic brews. This includes carbonated beverages, shots, flavored waters, juice mixes etc. In terms of flavors as well, tropical, herbal and seasonal flavors are gaining popularity beyond standard grape, lemon and orange varieties. Beverage line extensions with different serving sizes, strengths and flavors allow catering to diverse preferences. Such trends in product innovation are vital for market expansion by onboarding new consumer groups.
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Top Companies Featured in This Report:
โ Aurora Inc.
โ Aphria Inc.
โ Canopy Growth Corporation
โ MedReleaf Corp.
โ Cronos Group Inc.
โ GW Pharmaceuticals
โ plc.
โ CannTrust Holdings Inc.
โ VIVO Inc.
โ BevCanna Enterprises Inc.
Market Segmentation:
By Product Type:
โ By Product Type: Alcoholicand Non-alcoholic
โ By End User: Household, Restaurants & Cafes , Others
โ By Distribution Channel: Convenience stores, Hypermarkets, Specialty Stores, Online Retail, Others
Key Regions/Countries Classified as Follows:
ยป North America (U.S., Canada, Mexico)
ยป Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
ยป Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
ยป South America (Brazil, Argentina, Rest of SA)
ยป Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
The report offers insights on the following aspects:
Chapter 1: Study Coverage
Chapter 2: Executive Summary
Chapter 3: Analysis of Beverage Market Competition Landscape by Players
Chapter 4: Assessment of Beverage Market Size by Type and Application
Chapter 5: Global and Regional Analysis
Chapter 6: Company Profiles, recent developments, and investments
Chapter 7: Analysis of Market Opportunities, Challenges, Risks, and Influencing Factors
Chapter 8: Evaluation of Value Chain and Sales Channels, including breakthrough product developments
Chapter 9: Research Findings and Conclusion
Chapter 10: Methodology/Research Approach
The report also delves into the competitive landscape, key players, trade patterns, industry value chain, recent news, policies, and regulations. Should you have any inquiries or require customization options, please don't hesitate to contact us.
In summary, whether you're engaged in manufacturing, distribution, or investment within the Beverage sector, this report furnishes invaluable insights into market segments, drivers, challenges, investment prospects, regional dynamics, major players, growth strategies, prevailing trends, and hurdles influencing the industry's expansion.
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Author Bio:
Priya Pandey is a dynamic and passionate editor with over three years of expertise in content editing and proofreading. Holding a bachelor's degree in biotechnology, Priya has a knack for making the content engaging. Her diverse portfolio includes editing documents across different industries, including food and beverages, information and technology, chemical and materials, etc. Priya's meticulous attention to detail and commitment to excellence make her an invaluable asset in the world of content creation and refinement.
(LinkedIn- https://www.linkedin.com/in/priya-pandey-8417a8173/)
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