Publication Month: Nov 2022 | Report Code: TIPRE00029575 | No. of Pages: 254 | Category: Food and Beverages | Status: Published
Carbonated soft drinks, bottled waters, juices & nectars, dairy-based and dairy alternative beverages, RTD tea and coffee, and energy drinks are the different types of non-alcoholic beverages available in the market. The sugar-free category is gaining significant traction among consumers due to the rise in health concerns and the high prevalence of obesity, diabetes, and heart diseases in various countries across the globe. Functional drinks and fortified beverages are witnessing high demand due to the growing focus on health and nutrition. Non-alcoholic malt beverages and premixes are widely consumed in Middle Eastern countries such as Saudi Arabia, Iran, and the UAE owing to the strict regulations on alcoholic beverage consumption and malt beverages getting halal certifications. This factor is fueling the growth of the non-alcoholic malt beverages segment in the global non-alcoholic beverages market
In 2021, Asia Pacific held the largest revenue share of the global non-alcoholic beverages market. Major factors driving the market in Asia Pacific are increasing health awareness among consumers, high demand for alternative dairy beverages, and rising popularity of natural and organic fruit juices. In countries such as Japan and South Korea, the majority of the population is lactose intolerant. This factor is boosting the popularity of dairy alternative beverages in the countries. Further, the Asia Pacific non-alcoholic beverages market is lucrative owing to the presence of a potential consumer base, strong demand for healthy beverages, and extensive retail landscape. The NOLO (no/low alcoholic beers, spirits, and cocktails) category is experiencing a significant demand in Asia Pacific due to changing consumption habits and rising consumer focus on healthy eating and drinking. Therefore, many emerging companies that offer non-alcoholic or low-alcoholic beers and spirits are expanding their footprints across Asia Pacific. For instance, Sipfree, an online shopping platform for non-alcoholic beers, spirits, and wines, was launched in Hong Kong in January 2020, and despite the COVID-19 outbreak, the sales of Sipfree increased considerably. Such expansions are expected to open lucrative opportunities in the Asia Pacific non-alcoholic beverages market growth over the forecast period.
|Market Size Value in||US$ 1,327.11 Billion in 2022|
|Market Size Value by||US$ 1,902.85 Billion by 2028|
|Growth rate||CAGR of 6.2% from 2022 to 2028|
|No. of Pages||254|
|No. of Tables||139|
|No. of Charts & Figures||105|
|Historical data available||Yes|
|Segments covered||Type, Packaging Type, Category, and Distribution Channel|
|Regional scope||North America, Europe, Asia Pacific, Middle East & Africa, South & Central America|
|Country scope||US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Free Sample Copy Available|
In the pre-pandemic period, the non-alcoholic beverages market was mainly driven by high demand for healthy drinks and on-the-go beverages. However, due to the outbreak of COVID-19 in 2020, many industries faced unprecedented challenges. The food and beverage manufacturers witnessed a slow growth in the initial phase of the pandemic due to the shutdown of manufacturing units and supply chain disruptions. However, a shift in consumer lifestyle, a rise in preference for healthy dietary practices, and an increase in the health-conscious population have substantially promoted the demand for non-alcoholic beverages. The demand for plant-based beverages such as soy, almond, and coconut milk increased two-fold after the pandemic, as consumers believe that plant-based beverages offer more nutritional value than conventional ones. According to the Mintel report published in June 2020, 25% of the surveyed consumers in the UK agreed that a vegan diet seemed appealing due to the pandemic. These factors had a positive impact on the non-alcoholic beverages market growth.
The health and wellness trends were triggered after the COVID-19 outbreak. Consumers are engaging in various fitness activities such as yoga, jogging, and cycling to stay healthy. This factor is expected to provide the strong potential to the non-alcoholic beverages market, especially in the energy and sports drinks space, in the coming years.
Nutrition plays a significant role in improving sports performance. Athletes and sportspersons must follow adequate nutrition to meet their daily energy and nutrients demand. Along with professional athletes and sportspersons, many people are engaged in daily physical activity to maintain their overall health. The number of fitness enthusiasts increased in recent years due to increased health and wellness concerns. Sports drinks replenish the level of electrolytes, water, and energy lost during exercise and physical activities. These drinks typically contain carbohydrates, potassium, sodium, magnesium, and calcium that serve to rehydrate, replenish glycogen stores, and delay fatigue after exercise. The rising health and fitness concerns and an increasing number of sports enthusiasts are the key factors driving the sales of sports drinks globally. Thus, the rising adoption of sports drinks is significantly driving the non-alcoholic beverages market.
Based on type, the global non-alcoholic beverages market has been segmented into carbonated soft drinks, bottled waters, juices & nectars, dairy-based beverages, dairy alternative beverages, RTD tea & coffee, non-alcoholic beers, malt beverages, and others. The juices & nectars segment is further subsegmented into sparkling fruit juices and others. The carbonated soft drinks segment held the largest share of the global non-alcoholic beverages market in 2021, and the dairy alternative beverages segment is expected to grow at the fastest CAGR over the forecast period. Carbonated soft drinks are fizzy non-alcoholic beverages made from clean water, sugar, natural sweeteners or sugar alternatives (in diet drinks), caffeine, artificial flavoring ingredients, fruit juice concentrations, preservatives, and coloring additives. Sprite, Coca-Cola, Mountain Dew, and Monster are some of the well-known soft drink brands worldwide. Carbonated soft drinks are widely available across convenience stores, supermarkets and hypermarkets, vending machines, movie theatres, soda stores, and online retail stores. Changing lifestyles of consumers, rising disposable income, and increasing demand for convenience food and beverages are driving the market for the carbonated soft drinks segment.
Based on category, the global non-alcoholic beverages market has been segmented into sugar-free and conventional. The conventional segment held a larger market share in 2021. The rising prevalence of obesity, diabetes, high blood pressure, and cardiovascular diseases drives the demand for sugar-free drinks. According to the International Federation of Diabetes, approximately 537 million people worldwide had diabetes in 2021. Many beverage manufacturers are proactively developing products with natural, low-calorie sweeteners to meet the rising demand for sugar-free beverages. This factor is driving the market for the segment.
Key players operating in the global non-alcoholic beverages market include The Coca Cola Company, PepsiCo, Nestle, Red Bull, Suntory Holdings Limited, Danone S.A., Califia Farms LLC, Keurig Dr Pepper Inc, Asahi Group Holdings Limited, Bolthouse Farms Inc., Heineken NV, Coolberg Beverages Pvt Ltd, Goya Foods Inc, Anheuser-Busch InBev NV, and Carlsberg AS. Players operating in the global non-alcoholic beverages market are focusing on providing organic, GMO-free, plant-based, and gluten-free products with new flavors to meet the changing consumer requirements. For instance, in 2019, Coca-Cola Europacific Partners launched two sparkling juices to its Honest Organic Lemonade range. The product is manufactured from organic fruit juice and sugar, whereas it does not contain sweeteners or artificial flavors. Such innovative products are expected to gain immense consumer traction, driving the non-alcoholic beverages market growth.