Non-alcoholic Beverages Market Overview
Non-alcoholic beverages market size anticipated to reach at a usd 1501.9092 billion with 4.80% CAGR By 2023 To 2032, according to the latest research report from Market Research Future (MRFR). The report provides detailed analysis of the growth trajectory of the market and the major drivers affecting the market. A detailed analysis of the historical growth trajectory of the non-alcoholic beverages market is presented in the report in order to aid analysts in creating solid forecasts for the market’s growth in the coming years. Key players operating in the global non-alcoholic beverages market are also studied in the report to provide readers with an overview of the competitive landscape of the market.
Non-alcoholic beverages include all beverages that contain less than 0.5% alcohol by volume. These include water, coffee, tea, fruit juices, and other commercial products such as aerated beverages and energy drinks. The global non-alcoholic beverages market is likely to make steady progress over the forecast period due to the growing demand for various non-alcoholic beverages. Tea and coffee are among the most consumed non-alcoholic beverages, with a large part of the global population drinking either coffee or tea at least once a day. The longstanding presence and popularity of tea and coffee in many regions has been a major driver for the non-alcoholic beverages market.
The increasing inclination among consumers to avoid alcoholic beverages and instead consume non-alcoholic beverages is likely to be a major driver for the non-alcoholic beverages market over the forecast period. Increasing awareness about the ill effects of alcohol consumption and the growing threat of alcohol addiction and overconsumption have combined to make this a key driver for the non-alcoholic beverages market, as the number of people staying away from alcoholic beverages is increasing. Apart from this, increasing product diversification in the non-alcoholic beverages market is likely to be a major driver for the market. While non-alcoholic beverages do not provide the buzz that comes with alcoholic beverages, they can at least be made in a diverse range of flavors appealing to a broader audience. This is likely to remain a major driver for the non-alcoholic beverages market over the forecast period.
Competitive Analysis:
Major players in the global non-alcoholic beverages key market players include Pressed Juicery LLC, Jacobs Douwe Egberts BV, Suntory Beverage and Food Limited, Unilever, FreshBev LLC, Suja Life LLC, The Kraft Heinz Company, Parle Agro Pvt. Ltd., Keurig Dr Pepper Inc., Red Bull GmbH, Arizona Beverage Company, Nestle S.A., Danone S.A., PepsiCo Inc., and The Coca-Cola Company.
Leading players in the non-alcoholic beverages market are expected to focus on product diversification in the coming years, as there is a significant scope for multiple flavors in the markets for energy drinks and RTD (ready to drink) tea/coffee products. The growing demand for flavored RTD tea/coffee products is likely to remain a major driver for the non-alcoholic beverages market over the forecast period.
Segmentation:
The global non-alcoholic beverages market is segmented on the basis of product type, packaging type, distribution channel, and region.
By product type, the market is segmented into carbonated soft drinks, juices, bottled water, sports and energy drinks, RTD tea and coffee products, and others.
By packaging type, the global non-alcoholic beverages market is segmented into bottles, cans, cartons, and others.
By distribution channel, the non-alcoholic beverages market is segmented into store-based and non-store based.
Regional Analysis:
Asia Pacific is the largest regional market for non-alcoholic beverages and is likely to remain in the position over the forecast period due to the large volume of the Asia Pacific consumer market. The region held a 38% share in the global non-alcoholic beverages market in 2018. The increasing presence of local manufacturers in the non-alcoholic beverages market is likely to be a key driver for the Asia Pacific market, as local players may have a better idea of the flavor preference in particular regions, allowing them to establish a strong share in the market.
Industry News
In September 2023, Coca Cola’s Honest Tea announced an expansion in the RTD cold brew coffee market. The same month, Coca Cola HBC also acquired Lurisia, a leading Italian producer of premium bottled water and sparkling beverages.
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