The global beverage market is on an upward trajectory, projected to grow at a CAGR of 4.33%, reaching a valuation of US$2,213.306 billion by 2029, up from US$1,645.083 billion in 2022. In Asia, rapid growth is being driven by rising disposable incomes, urbanisation, and evolving consumer tastes.

Key trends shaping the industry include:

• Functional Beverages: Consumers are turning to drinks enhanced with vitamins, minerals, probiotics, and adaptogens for health benefits like improved immunity and cognitive function.
• Cocktail Culture: The cocktail scene continues to flourish, with mixologists blending classic and modern flavours to delight every palate.
• Fusion Drinks: A harmonious blend of tradition and innovation, fusion drinks offer exciting flavours from diverse cultures.
• Low-Alcohol and Non-Alcoholic Options: Growing health consciousness is fuelling demand for beverages that cater to balanced lifestyles.

This dynamic sector encompasses a variety of offerings, including craft beers, fine wines, premium spirits, specialty teas and coffees, functional health drinks, kombucha, and more.