Beverage Market Size to Reach USD 2.67 Trillion by 2031, Driven by Health and Sustainability Trends

Introduction: Beverage Market Growth Outlook

According to a research report by Mordor Intelligence, the global Beverage Market is projected to grow from an estimated USD 2.03 trillion in 2026 to USD 2.67 trillion by 2031, reflecting a steady CAGR of 5.65% over the forecast period. This growth is supported by increasing consumer awareness around health, wellness, and sustainable consumption, along with the rising demand for premium and functional beverages. Non-alcoholic drinks such as functional waters, prebiotic sodas, and plant-based options are gaining traction, while premium alcoholic beverages maintain revenue growth despite fluctuating economic conditions.

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Key Trends in the Beverage Market

Social Consumption and Experiential Beverages: Younger consumers, especially Millennials and Gen Z, are seeking beverages that offer unique flavors, indulgence, and social experiences. Ready-to-drink cocktails, low- or no-alcohol beverages, and unconventional flavor combinations, such as chocolate with chili or botanicals, are gaining popularity as consumers pursue novel experiences.

Urban Lifestyles Driving Ready-to-Drink Formats: Urbanization and fast-paced routines are driving the demand for convenient, on-the-go beverages. Pre-mixed drinks with functional benefits, such as electrolytes, antioxidants, and vitamins, are catering to health-conscious urban consumers.

Health-Consciousness Boosting Functional Beverages: Awareness of sugar-related health risks has increased demand for low-sugar, functional drinks with added benefits such as probiotics, vitamins, or plant-based ingredients. Products that combine hydration with health benefits are expanding rapidly, particularly among younger consumers.

Sustainability in Packaging: Eco-conscious consumers are influencing beverage packaging trends. Companies are adopting biodegradable, compostable, and plant-based materials, alongside recycled PET bottles and lightweight aluminum cans. Efforts like Coca-Cola India's small sparkling bottles made from recycled PET highlight the growing emphasis on reducing environmental impact in the beverage industry.

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Beverage Market Segmentation

By Product Type

Alcoholic Beverages:

Beer
Wine
Spirits
Ready-to-Drink (RTD) Cocktails
Hard Seltzers

Non-Alcoholic Beverages:

Carbonated Soft Drinks
Bottled Water
Juices and Nectars
Energy and Sports Drinks
Ready-to-Drink (RTD) Tea and Coffee
Dairy and Plant-based Drinks
Other Non-Alcoholic Beverages

By Packaging Type

PET Bottles
Glass Bottles
Cans
Others

By Application

Energy Boost
Nutritional and Functional Support
Others

By Distribution Channel

On-trade:

Bars
Restaurants
Cafes
Event venues

Off-trade:

Supermarkets / Hypermarkets
Convenience Stores
Online Retailers
Specialty Stores

By Geography

North America: United States, Canada, Mexico, Rest of North America
South America: Brazil, Colombia, Chile, Peru, Argentina, Rest of South America
Europe: United Kingdom, Germany, France, Italy, Spain, Russia, Poland, Belgium, Sweden, Rest of Europe
Asia-Pacific: China, Japan, India, Australia, Indonesia, South Korea, Thailand, Singapore, Rest of Asia-Pacific
Middle East & Africa: South Africa, Saudi Arabia, United Arab Emirates, Nigeria, Egypt, Morocco, Turkey, Rest of Middle East & Africa

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Key Players in the Beverage Industry

The Coca-Cola Company: Expanding its portfolio with functional waters, plant-based beverages, and sustainable packaging.
PepsiCo Inc.: Innovating in low-sugar and prebiotic drinks while acquiring niche brands to diversify offerings.
Bacardi Limited: Maintaining premium spirits leadership with new RTD cocktails.
Nestlé S.A.: Offering dairy and plant-based beverages with functional benefits.
Anheuser-Busch InBev: Combining craft and premium beer offerings with global

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Conclusion

The global Beverage Market is set for steady growth through 2031, fueled by shifting consumer preferences, increasing health awareness, and sustainability concerns. Non-alcoholic and functional beverages are growing faster than traditional alcoholic options, while ready-to-drink (RTD) formats are gaining popularity for their convenience. Urbanization, higher disposable incomes, and regional trends are creating new opportunities for innovative products and expanded distribution.

At the same time, regulatory pressures like sugar taxes and stricter labeling standards are reshaping the market. Both established and emerging companies are responding with healthier, functional, and premium beverage offerings, adapting packaging for sustainability, and leveraging these trends to strengthen their market share in the competitive global beverage industry.

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Industry Related Reports:

Africa Sports Drink Market - The Africa sports drink market is poised for strong growth, with a valuation of USD 188.70 million in 2025 expected to reach USD 290.40 million by 2030, growing at a CAGR of 9.00%. This growth is driven by rising health awareness, increasing participation in sports, and the demand for functional beverages that support hydration and performance.

https://www.mordorintelligence.com/industry-reports/africa-sports-drink-market?utm_source=openpr

Dairy Based Beverages Market - The dairy-based beverages market is projected to grow from USD 154.32 billion in 2025 to USD 209.99 billion by 2031, at a CAGR of 5.26%. Expansion is fueled by innovations in flavored and fortified dairy drinks, rising consumer preference for protein-rich beverages, and increasing urbanization across emerging markets.

https://www.mordorintelligence.com/industry-reports/dairy-based-beverages-market?utm_source=openpr

Health Drinks Market - Valued at USD 132.38 billion in 2025, the global health drinks market is expected to reach USD 200.06 billion by 2031, growing at a CAGR of 7.12%. The surge is supported by growing consumer focus on immunity and wellness, functional ingredients, and the trend toward natural and plant-based formulations.

https://www.mordorintelligence.com/industry-reports/global-health-drinks-industry?utm_source=openpr

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