Non-alcoholic Beverage Market Overview
Non-alcoholic beverages market is expected to reach USD 1501.90 billion by the end of 2032, growing at a 4.80% CAGR over the forecast period.
Due to growing concern for good health has motivated many people to shift from alcoholic beverages to non-alcoholic beverages which is growing the market at an incremental pace of development on the global stage. Market Research Future, a firm which specializes in market reports related to the Food, Beverages & Nutrition sector among others, recently forecasted in its report on Global Non-alcoholic beverage Market Research Report- Forecast to 2030 that the market will demonstrate an exceptional CAGR during the forecast period.
Growing concern toward obesity and other health issues is reforming the global nonalcoholic beverage industry. The demand for functional beverages, such as probiotic drinks, energy drinks, and ready to drink coffees and teas, is gaining popularity owing to their low-calorie contents. The changing consumer taste and preferences of consumers is inclined toward a variety of flavors bolstering the demand for various types of non-alcohol drinks. The general rising temperatures of the world, on account of global warming, is boosting the demand for non-alcoholic beverages. In addition, the rising health concerns has led a large chunk of population in developed and developing regions to prefer non-alcoholic over alcoholic drinks. For instance, this is fueling the demand for packaged fruit juices and dairy drinks.
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The increasing health concern related to the adverse effect of sweetened beverages by artificial means is likely to hamper the demand for non-alcoholic drinks in the coming years. However, the rising purchasing power of consumers has led to the demand for innovative flavors and nutrition in drinks. Increased focus of numerous food and beverages company on differentiating their offerings have led them to capitalize on emerging opportunities in several emerging markets. In addition, the sustained introduction of new products in different flavors and variants is anticipated to open up profitable avenues for these players. Furthermore, the rising youth populations, especially in developing nations of Asia Pacific, is a key trend expected to change the consumption pattern in favor of non-alcoholic drinks. These populations are active in trying new flavors as refreshing alternatives. This is expected to predict well for the non- alcoholic beverage market in the coming years.
Latest Industry Updates
Dec 2021 Polish beverage producer Krynica Vitamin has launched two new beverage lines featuring particles of aloe vera and nata de coco.
Nov 2021 Peel & Spice announced to launch non- alcoholic healthy drink alternative in ginger and cinnamon, lemongrass and black pepper, with a third planned for spring 2021
Nov 2021 Borough Wines & Beers has joined forces with Surendran & Bownes distillery to develop a 0% abv gin as part of a strategy to align its portfolio with the trend for low and non-alcoholic drinks.
Nov 2021 LGC Capital has signed a binding letter of intent with Creso Pharma Ltd and Baltic Beer Company Ltd. The new joint venture will create a bespoke portfolio of unique cannabis- and hemp-derived alcoholic and non-alcoholic beverages.
With the entry of industry players in the Non-alcoholic beverage segment, a trend of solid, volume-driven growth has been observed in the market with the development of different varieties of product types. With companies aiming to capture a considerable share of the market segment as early as possible, they are competing and experimenting with various advantage points. The main focus of the key players is new product launch witn variety of range in flavors. New flavors and product innovations is a key to success for the non-alcoholic beverage manufacturers. Moreover, agreements and partnership are strategic moves by the key players in the competitive market. High emphasis on marketing and promotional activities is having a positive impact on the growth of the market.
The key players profiled in Non-alcoholic beverage are as PepsiCo (U.S.), Fuze Beverage (U.S.), Coca-Cola (U.S.), Nestlé (Switzerland), Nestlé (Switzerland), Kraft Foods (U.S.), Kraft Foods (U.S.), Campbell Soup Company (U.S.), Ocean Spray (U.S.), and Ocean Spray (U.S.) among many others.
The global Non-alcoholic beverage market has been divided into type, packaging, distribution channel and region.
On The Basis Of Type: Probiotic Drinks, Alcohol-Free Drinks, Energy Drinks, RTD, Juice, Herbal & Fruit Teas, Fortified water, Dairy & Non- Dairy Beverages and others
On The Basis Of Packaging: Bottle, Tetra Pack, Sachet, Tin Can, and others
On The Basis Of Distribution Channel: Store-Based, and Non-Store Based
On The Basis Of Region: North America, Europe, Asia Pacific, and ROW.
Global Non-alcoholic Beverage Market –
The global Non-alcoholic beverage market is segmented into North America, Europe, APAC, and Rest of the World (RoW). Global dietary market is highly dominated by Europe and North America and is estimated to grow at a slow pace with steady demand for the products. Asia-Pacific is the fastest growing market for non-alcoholic beverages headed by populated countries such as India, Singapore and China. This region is expected be the largest market due to hot weather, large population and high thirst crunching product demand in these region. South America and Africa are also anticipated to grow at a moderate rate over the forecast period.