The rum market is a diverse and ever-evolving segment of the global alcoholic beverages industry. The rum market is expected to grow at a CAGR of 5.5% during the forecast period of 2024 to 2032, driven by craft cocktails, premium and aged rum preferences, and the globalization of rum culture. While supply chain disruptions pose a significant restraint, the market is expected to expand, especially in regions with a strong rum tradition and an emerging interest in the spirit.
The organic beverages market is expected to grow at a CAGR of 13.5% during the forecast period of 2024 to 2032, driven by a growing consumer preference for healthier and more sustainable options. The organic beverages market is driven by increasing health and wellness consciousness, sustainability and environmental concerns, and the expansion of distribution channels. These drivers are expected to fuel the market's growth during the forecast period (2023-2031).
The hard seltzer market is expected to grow at a CAGR of 20% during the forecast period of 2024 to 2032, driven by factors such as the consumer preference for low ABV content, diverse flavor offerings, innovation, and the shift towards sustainable packaging, particularly metal cans. However, challenges related to regulatory changes and taxation policies may present obstacles to market expansion. To thrive in this dynamic market, industry players should focus on product innovation, sustainability, and effective compliance strategies to navigate regulatory challenges successfully.
Out-of-Home Tea market CAGR 9.5% during the forecast period, the demand for tea infused with flavors, fragrances, and herbal ingredients is anticipated to drive the global out-of-home tea market. Due to its health benefits, ready-to-drink tea is favored by consumers. Tea strengthens the immune system and reduces inflammation. In the near future, market growth is likely to be influenced by the rising awareness of tea's health benefits. It is anticipated that the development and introduction of products with regional flavors will provide lucrative growth opportunities for industry vendors.
As a result of the expanding prevalence of insomnia, the relaxation beverages market is anticipated to reach a value of US $1519.71 million by the year 2032, expanding at a CAGR of 14.1% during the forecast period of 2024 to 2032. North America is the market leader for relaxation drinks, globally.
Tonic Wine Market Is Projected to Expand At A CAGR Of 5.5% Between 2023 And 2031. Tonic wines were initially introduced for medicinal uses, thereby getting the name tonic wine. Herbs used in tonic wines are generally aromatic, made from rosemary, lavender, hyssop, sage, lemon balm, rose geranium, mint, thyme, and various spices generally used in kitchens such as ginger, nutmeg, cinnamon, and mace. Tonic wine is used to cure fever, mainly typhoid and pneumonia, by lowering the body temperature. Tonic wine easily gets assimilated which is used for people who have low absorption capacity from food or those with a lack of appetite for food.
Dill is generally a single species of genus anethum. It is basically an herb which provides different health advantages such as enhancing the digestive system, decreasing liver problems, and different body related problems. The juice is also considered to be rich in vitamin, iron and calcium. The market is at a very nascent stage and is anticipated to expand over the coming few years.
Presently, bottled water is generally considered as one of the largest beverage category both in terms of volume and value all across the globe. The market for bottled water has gained traction in the past few years due to rising demand for safer and healthy beverages worldwide.
The market for beverages is estimated to cross $2000 billion by 2030 with an expected CAGR of 5% between 2023 and 2031. Post-Covid-19, as a result of their altered consumption patterns, customers are increasingly willing to try new products, particularly those that are healthier and safer. This has pushed businesses to investigate novel and inexpensive items. Bearing this in mind and the increase in demand during the pandemic, beverage producers have begun expanding their product lines with new lines that contain less sugar and provide functional benefits.
Increasing health consciousness heightened understanding of the necessity for an active lifestyle, and the rising prevalence of lifestyle diseases prompted health-conscious consumers to choose nutritious beverages. A rise in promotional and advertising methods among market-active manufacturers is also anticipated to contribute to the expansion of the beverage industry. Moreover, the industry is witnessing an increase in demand for low-alcohol-by-volume beverages, particularly among millennials and baby boomers. The rising sales of low-alcohol beverages can be attributed to customers' increasing health consciousness and the availability of a broader product selection with enhanced flavor, which makes it easier for consumers to select a product according to their preferences.
Due to the global incidence of diabetes, people are becoming increasingly aware of the significance of a balanced diet and active lifestyle. Consumers are opting for low-calorie, low-sugar, or sugar-free dietary patterns in foods and beverages as a result of increased health concerns and initiatives to prevent the emergence of lifestyle-related disorders. In beverages, consumers choose natural sweeteners such as stevia. PepsiCo Inc. and Coca-Cola have pledged to eliminate artificial additives and lower the amount of sugar in their drinks.
In addition, changes in consumer expectations for reduced or sugar-free products prompted beverage makers to innovate their products. These producers are producing a variety of unique goods to meet the escalating demand for such items, as customers are actively attempting to avoid consuming sugary beverages to avoid the negative effects of excessive sugar consumption.
Acute Market Reports provides the most comprehensive market research services in the beverages industry. We analyze the global market from the perspective of the potential outcomes, benefits, and risks associated with each market segment. After more than a decade of service, our top priority is to enable our clients around the world to make educated business decisions by using an innovative and futuristic research strategy that is data-driven, analytical, and simple. Through Acute Market Reports you can gain access to the most advanced business intelligence solutions in the beverages industry.
