Non-alcoholic Beverages Market Report: Statistics, Growth, and Forecast 2032
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 trends 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 market 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 report 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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