Press release
Beverage Market is Expanding Rapidly with Promising Growth Prospects 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 exhibit substantial growth over the forecast period, owing to legalization of recreational in various regions and potential health benefits of ingredients. According to the report, the growing demand for non-alcoholic, - or -infused beverages among health-conscious consumers, especially from millennial population, is a major factor driving market growth. Further, increasing social acceptance and legalization of for medical and recreational use in many countries has prompted leading beverage producers to explore production of -infused drinks, thereby fueling growth of the market.
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High regulatory compliance costs associated with beverages poses a challenge for market players
Producing beverages requires compliance with stringent regulations governing the production, distribution, marketing and labelling of products containing extracts or derivatives. Regulators impose guidelines around THC/ dosage and concentrations, testing and quality control procedures. Compliance with these complex regulations increases the cost of operations for beverage companies. Additional costs are incurred to modify existing beverage facilities to safely produce infused products. Smaller players may find it difficult manage regulatory costs which can hamper market growth. However, as the industry matures, regulations may become less restrictive.
Availability of alternative consumption methods like edibles and beverages presents an opportunity for market expansion
Rather than smoking , many existing and new consumers prefer methods like edibles and beverages that don't involve inhalation or combustion. The option of consuming via beverages instead of smokable flowers or concentrates opens up the market beyond traditional users. beverages appeal to a wider consumer base seeking a discrete, convenient and consistent experience. Their availability as an alternative to smoking represents an opportunity for companies to attract first-time users and boost overall industry revenue.
Increased product innovation and diversification of product portfolio is a key market trend
beverage producers are innovating and diversifying their offerings to meet evolving consumer demands. New product lines include wellness beverages infused with or CBG, sparkling juices, sodas, teas, coffees and cocktails. Products are being developed targeting specific benefits like relaxation, energy, sleep etc. Companies are also experimenting with nanoemulsification technologies to enhance the speed of effect. Such product and formulation advancements will attract more consumers, driving the market towards mainstream adoption over the coming years.
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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)
Key Inquiries Addressed in this Report include:
๐ What was the size of the Beverage Market in 2024, and what is the projected value by 2031?
๐ What is the present global market landscape for the Beverage Market?
๐ What strategies offer optimal opportunities for growth maximization in the business?
๐ What recent trends are shaping the Beverage Market?
๐ How does the market share of Beverage Market revenue, sales, and size vary across specific geographical regions?
๐ Who are the prominent industry players in the Beverage Market?
๐ Which segment of the Beverage Market is experiencing heightened demand?
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.
๐ Request For Customization at: @ https://www.coherentmarketinsights.com/insight/request-customization/3390
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, healthcare, 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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