The food and grocery segment is one of the highest-selling product categories in the retail industry. This segment encompasses food, drinks, tobacco, and household products, of which drinks account for 15%. The drinks segment is classified into non-alcoholic beverages, which include hot drinks, soft drinks, and dairy and soy drinks, and alcoholic beverages, which include beer and cider, spirits, and wines.
Asia-Pacific is among the regions which have a strong influence on the drinks industry globally and contributes to 44% of the global market size on the back of China, India, and Japan which are among the top five countries in this segment.
The drinks from this region have always had takers around the globe and with different types of Tea, Lassi, Toddy, Ginger beer, Japanese Whisky, etc. finding new consumers, the popularity of drinks from this region is ever growing.
The drinks segment in Asia-Pacific reached a value of $694 billion in 2021, witnessing a significant increase of 11% from the previous year. This was on account of growth in the retail product categories following a recovery in demand in the post-COVID-19 pandemic period as brick and mortar stores and online stores resumed their operations after being under restrictions for almost two years.
The drinks segment in the Asia-Pacific region grew at a CAGR of 8.7% during 2017-2021. The demand for retail drinks is increasing due to the frequent introduction of new brands offering a plethora of options for consumers to choose from, be it alcoholic beverages or non-alcoholic beverages. Dairy and soy drinks have always been in demand and with a growing population, especially in countries such as India, the market size of non-alcoholic drinks is expected to increase steadily.
The major alcoholic drink brands that have a strong position in the whole Asia-Pacific region include Johnnie Walker, Chivas, and Hennessy among others, whereas there are other popular brands that are specific to certain countries such as Royal Stag, Asahi, Jim Beam, and Kweichow Moutai among others. Some of the major non-alcoholic drink brands that have a good hold in Asia-Pacific markets include Coca-Cola, Ganten, Gatorade, and Red Bull.
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