Despite sky-high inflation, the beverage industry is expected to remain afloat due to near-inelastic demand for its products. Beverages have grown in popularity as consumers have developed a habit of drinking soft drinks when eating and drinking out.
The revenue of the global beverage segment is expected to reach $257.30 billion in 2023. Moreover, the worldwide food and beverage market is expected to grow to $4.65 trillion in 2027 at a CAGR of 5.4%.
