The beverage industry is witnessing a technological shift. Beverage companies are adopting innovative technologies at an unprecedented rate as customer demand and supply chain pressures expose the flaws of current systems and processes. The emerging beverage technology trends mostly revolves around sustainability initiatives to effectively address climate change concerns. AI, IoT, big data, sophisticated analytics, and robotics are all becoming commonplace in the beverage business. These technologies boost beverage production productivity throughout the board, from sourcing and manufacturing to product distribution and sales. Another key developing trend that is matching quickly changing client expectations is eCommerce.
Furthermore, eCommerce enables beverage companies to reach consumers more efficiently and affordably. Many businesses also incorporate immersive technologies like virtual reality (VR) & augmented reality (AR) to improve customer interaction. Furthermore, blockchain-based solutions and modern beverage manufacturing systems enhance supply chain visibility and production throughput.
The global beverage market is predicted to increase at a compound yearly growth rate of 2.53 percent from $1,561.084 billion in 2019 to $1,859.278 billion by 2026. The market is expected to grow reasonably during the forecast duration, owing to rising per capita global consumption of beverages in major developing regions, rising disposable income, and changing consumer preferences toward ready-to-drink beverages. Furthermore, the increasing emphasis by leading market players on investing extensively in mergers, acquisitions, and product launches to obtain a competitive advantage over other players demonstrates the market's development potential in the following years. Furthermore, rising per capita consumption of alcoholic beverages and consumer preferences for premium products will likely fuel market expansion.
This edition of Food and Beverages Tech Review highlights the key developments in the space and how beverage firms are capitalizing on them. We have curated thought leadership articles from industry experts, including Rick Stanbridge, Executive Vice President and Chief Information Officer of Marco’s Pizza & Kshitij Godbole, and Vice President of Quality & Regulatory Affairs at Suntory Beverage & Food Asia Pacific.
We also took a deep dive into the market trends to narrow down the list of top-notch beverage firms. Equipped with innovative technological capabilities, beverage firms such as Semi-Bulk Systems help transform beverage tech at the cloverleaf of various disruptive technologies.
We hope this edition of Food and Beverages Tech Review on beverage tech firms will help you build the partnership you and your organization need to foster an environment driven by efficient technology.
Let us know your thoughts!
