Global Non-Alcoholic Beverages Market Size To Grow At A CAGR Of 5.3% Between 2023-2028 | EMR Inc.
The ‘Global Non-alcoholic Beverages Market Growth, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global non-alcoholic beverages market, assessing the market on the basis of its segments like types, packaging types, end-uses, distribution channels, and major regions.
Non-alcoholic Beverages Market Size, Trends, Industry Report, Key Player, Major Segments, and Forecast
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The key highlights of the report include:
Market Overview (2018-2028)
• Forecast CAGR (2023-2028): 5.3%
|Growth Rate CAGR||5.3%|
|Major Players||PepsiCo, Inc., The Coca-Cola Company, Nestle S.A., H.J. Heinz Company Brands LLC,
Reed’s, Inc., and Monster Energy Company, among others
Non-alcoholic beverages are widely consumed in hotels, restaurants, healthcare institutes, and educational centres, among others. The increasing sale of non-alcoholic beverages among tourists, students, and working-professionals, is driving the market growth. Also, the increasing number of stalls and street food providers across the emerging economies are propelling the demand for minerals water and carbonated drinks, thereby increasing the market demand.
The increasing footfall in bars and pubs are fostering the popularity of non-alcoholic beers, soft drinks, cocktails, and fruit juices, among others, which is adding to the growth of non-alcoholic beverages market. Further, the increasing inclination towards non-alcoholic beverages to quit alcohol or reduce the consumption of whiskey or vodka, is a major driving factor of the market.
During the forecast period, the Asia Pacific region is expected to account for a significant share in the market owing to the large population base across India and China. The rapid urbanisation, rising standard of living, and strong foothold of major beverage producing companies in the region are some of the crucial driving factors of the non-alcoholic beverages market.
Meanwhile, the Middle East and Africa is anticipated to register a considerable growth in the coming years because alcoholic beverages such as wine and beer are forbidden in this region. In this regard, the scope of expansion of non-alcoholic beverages is high. Moreover, the expansion of non-alcoholic beverages in this region is likely to lead to rapid innovations to boost the availability of innovative flavours.
Non-Alcoholic Beverages Industry Definition and Major Segments
Non-alcoholic beverages, as the name suggests, are defined as the type of beverages which are free from alcohol. However, these beverages might contain some significant nutritional content including vitamins and minerals which is aiding the global non-alcoholic beverages market development. These beverages can be canned or put in a flexible container. Some of the notable examples of these type of beverages are cold drinks, fruit juice, and non-alcoholic beer, among others.
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Based on type, the market can be segmented into:
• Carbonated Soft Drinks (CSD)
• Coffee and Tea
• Bottled Water
• Sports Drinks
The market can be broadly categorised based on packaging type into:
The significant end-uses included in the market are as follows:
• Food Services
By distribution channel, the market has been segmented into:
• Convenience Stores
• Speciality Stores
On the basis of region, the market can be categorised into:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Non-Alcoholic Beverages Market Trends
The key trends in the global non-alcoholic beverages market include the increasing demand for non-alcoholic ready-to-make beverages such as squashes, syrups, and flavoured milk. Also, the increasing demand for clean-labelled canned beverages owing to the increasing per capita income is a major factor in the market.
The thriving e-commerce industry is anticipated to be a key trend in the market development owing to the growing availability of wide range of non-alcoholic beverages on online food and beverage delivery platforms.
The growing research and development activities by the major food and beverage manufacturers is one of the major factors driving the non-alcoholic beverages market. The companies are aiming towards branding and marketing high quality innovative beverages to generate greater revenue.
Meanwhile, the increasing inclination towards health and fitness among the working-class population is likely to motivate them to buy nutritional and vitamin rich beverages such as coconut water, packaged fruit juice, among others.
Furthermore, the aggressive branding and promotion strategies adopted by the major beverage companies such as Pepsi, Coca Cola, and Tropicana, among others, are likely to be the other major trends in the market. In addition to this, the increasing awareness about the ill-effects of consuming alcohol is further aiding the market growth.
Key Market Players
Some major players in the market:
• PepsiCo, Inc.
• The Coca-Cola Company
• Nestle S.A.
• H.J. Heinz Company Brands LLC
• Reed’s, Inc.
• Monster Energy Company
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
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