Beverage industry growth booms in Next 5 years
Healthy living and sustainability are driving beverage industry growth. The market reached a value of USD 3.56 trillion last year. Mordor Intelligence‘s Analysts anticipate that it will grow at a CAGR of 4.26% over the next five years. And with projections putting it at USD 4.39 trillion by 2027.
Shifting Consumer Preferences
Consumers focusing on their well-being lean towards energy drinks or wine spritzers as well as other ready-to-drink alcoholic beverages like hard seltzers. Different flavors such as horchata and kombucha have become trendy.
Sustainable Packaging Innovations
Single-serving packs & multi-packs are gaining momentum while connected packaging provides personalized offers plus recycling details; however sustainable packaging innovations will still be necessary for meeting green customer requirements.
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