Asia to claim two-thirds of global beverage consumption by 2021
By 2021 Asia is predicted to consume two-thirds of the world's beverages, with China alone responsible for one-third of the additional volume.
By 2021 Asia is predicted to consume two-thirds of the world's beverages, with China alone responsible for one-third of the additional volume.
The unprecedented growth projections come from to market research company Canadean's most recent Global Beverage Forecasts report, which highlights the increasing migration from developed to emerging markets.
In 2015, China drank 2.1 billion bottles of wine, behind only the US (4.1 billion) and France (3.6 billion).
Latin America is expected to achieve the second highest incremental volume growth behind Asia, with Brazil the key contributor to the regional increase.
The growing importance of the emerging Middle East and North Africa (MENA) markets is also due for a significant incremental volume increase, which is anticipated to be three times that of North America.
This is expected to be propelled by burgeoning population growth and demand for soft drinks.
Africa's predicted volume increase by 2021 is expected to be double that of East Europe's.
Of the top ten highest volume markets in 2021, Canadean anticipates that only three developed markets (the US, Japan and Germany) will feature in the ranking.
In 2000, the US and West Europe together accounted for nearly one-third of global commercial beverage consumption, but by 2021 their combined share will have shrunk to 18%.
Antonella Reda, Product Development Manager at Canadean, said: "While many major producers are already focusing on harnessing the volume potential in emerging markets, as developed markets slow, expansion is not without its challenges. Producers will need to continue to invest in infrastructure and distribution efficiencies in order to retain profitability, particularly in poorer and slowing economies, and markets beset by political upheaval and/or legislative challenges.
"Continued investment in development of innovative drinks and value-added propositions that respond to changing consumer lifestyles and demographic changes at both a global and local level, remain vital to drive both volume and value growth."
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