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Non-alcoholic Beverages Market Growing At CAGR 5.6% Expected To Reach USD 1,363.1 Billion By 2030

The global non-alcoholic beverages market size is expected to reach USD 1,363.1 billion by 2030, expanding at a CAGR of 5.6% during the forecast period, according to a new report by Grand View Research, Inc., owing to factors such as rising disposable income, population growth, and changing lifestyles.

Non-Alcoholic Beverages Market Report Highlights

·         Asia Pacific is expected to contribute a majority of the share to become the largest division in the global revenue in 2021. The preference for healthier non-alcoholic beverages among consumers is increasing the demand for such beverages in the region

·         The bottled water segment is projected to register the fastest growth during the forecast period from 2022 to 2030

·         The retail distribution channel segment is expected to register faster growth during the forecast period. An increase in product availability by various brands in the hypermarkets, and supermarkets coupled with the increase in internet penetration is likely to bode well with the future segment growth

Gain deeper insights on the market and receive your free copy with TOC now @: Non-alcoholic Beverages Market Report

Non-alcoholic & low alcohol beverages have been around for a while. But recently, the sector has been booming. Increasing concerns regarding obesity and health awareness are expected to trigger the growth of low-sugar carbonated drinks, tea & coffee, and bottled water. Brands globally have been innovating new products with new flavors and premium flavors in product categories, such as carbonated beverages, bottled water, and tea & coffee, which would further support the category growth. For instance, in May 2021, Danone S.A. launched the first flavored and sparkling line from its Evian bottled water brand in the U.S., available in four flavors such as Raspberry & Ginseng, Lime & Ginger, Grapefruit & Basil, and Cucumber & Mint.

In terms of product, the bottled water segment is expected to be the fastest-growing segment during the forecast period. Product launches in this segment by key players in the market are likely to supplement the overall segment growth. For instance, in July 2020, Dutch-based brand Bottle Up launched its product offering in the U.K. with its pre-filled, reusable, BPA-free, and plant-based water bottles. The bottles would be available in 438 WHSmith locations across U.K., including the train station and airport locations, such as Manchester Piccadilly, Euston, Heathrow, Luton, Waterloo, Victoria, and several hospitals.

The retail distribution channels held the largest share in 2021 and are expected to remain dominant during the forecast period. The rise in demand for non-alcoholic beverages or zero-alcohol drinks by the consumers has made these retailers hold a larger share of such products by different brands such as Welch, Budweiser, Busch, and Great Value, especially in supermarkets such as Aldi, Whole Foods, and Walmart.

The non-alcoholic beverages market is consolidated in nature with the presence of a large number of international players and few regional players. Nestlé, PepsiCo, Unilever, Keurig Dr Pepper Inc., The Coca-Cola Company, Cott Corporation, Danone S.A., SUNTORY BEVERAGE & FOOD LIMITED, Asahi Group Holdings, Ltd., and Red Bull are among the prominent players in the global market.

Non-alcoholic Beverages Market Insights By Geographical Regions:

The Asia Pacific emerged as the fastest-growing region in the market, owing to the presence of various untapped markets, huge population, and increasing disposable income. The region led by emerging economies, such as China, India, Thailand, and Malaysia, has a competitive advantage over other areas due to the availability of low-cost labor and raw materials. North America accounted for the second-largest market for this industry, owing to the presence of developed economies and the early adoption of soda products. The region, led by the U.S., is home to many globally renowned beverage manufacturers such as PepsiCo and the Coca-Cola Company.

Industry Analysis By Major Companies:

The industry is highly competitive, owing to many small and big players. Product differentiation is a crucial factor in this industry, which is driving research and innovation activities. Rapidly changing technology coupled with demanding customer’s results in pressure for product augmentation and new product development. Apart from a quality product, promotion is one of the crucial processes in improving brand recognition. Some of the key players operating in the global non-alcoholic beverages market are:

·        Nestlé

·        PepsiCo

·        Unilever

·        Keurig Dr Pepper Inc.

·        The Coca-Cola Company

·        Cott Corporation

·        Danone S.A.

·        SUNTORY BEVERAGE & FOOD LIMITED

·        Asahi Group Holdings, Ltd.

·        Red Bull

For Any Questions or Inquire please visit @:https://www.grandviewresearch.com/industry-analysis/nonalcoholic-beverage-market/request/rs5

Grand View Research has segmented the non-alcoholic beverages market based on product, distribution channel, and region


on August 10 at 9:43

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