US Beverage Market Outlook 2023: Inflation, Home Delivery, Health Halos & Other Trends
Industry Reports, United States
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The coronavirus has had an impact on consumer eating and drinking habits, many of which have stuck even as other impacts of the pandemic receded; some consumers have tended toward less healthy or indulgent foods and beverages, and others have gone the opposite direction by eating healthier to counterbalance other bad habits.
Sales of the major beverage categories are forecast to increase at a compounded annual growth rate (CAGR) of 3.5% from 2022 to 2027, reaching sales of over $232 billion.
Rising food prices were the top consumer concern in both Packaged Facts’ October-November 2021 and December 2022 surveys, with the percentage of people very concerned increasing notably in December 2022. The costs of beverages and other consumer products followed a similar pattern.