The global beverage market, both alcoholic and non-alcoholic, is projected to reach USD 1.8 trillion by 2024, growing at 3.1% CAGR each year. The lion’s share of this growth is expected to come from emerging markets. Researchers predict that two-thirds of the incremental growth in the beverages market will come from Asia alone, closely followed by Brazil, Middle East and North Africa. In 2017, Asia Pacific was the largest global market for spirits, with nearly 60% share of total sales value, growing more rapidly than any other market across the globe.
There is no doubt that the next leg of growth for beverage companies will come from emerging markets. But it won’t be easy. From the logistical difficulties of reaching the far ends of each geography to the idiosyncrasies of local culture and practices, emerging markets pose a unique set of challenges that you need to be prepared for.
In this paper, we’ll discuss these challenges in detail and explore how you, as a beverage company in emerging markets, can leverage data-driven technology to overcome business challenges.