Non-Alcoholic Beverage Market - Forecast(2021 - 2026)
Non-Alcoholic Beverage Market Overview
Non-Alcoholic Beverage Market size is valued at $1,592Bn in 2019, and is anticipated to grow at a CAGR of 12.74% during the forecast period 2020-2025. The Non-Alcoholic Beverage Market growth rate is attributed to the changing diet patterns to consume nutrient-rich products, rising concerns over adverse health implications associated with consumption of alcoholic drinks coupled with the shifting customer focus towards a healthy lifestyle to upscale the utility of alternative drinks including functional beverages and soft drinks. From growing concern toward obesity and other health problems in reshaping the global non-alcoholic beverage industry with increasing investments in R&D by manufacturers thereby, growing rate of regulatory approvals for new products to the demand for functional beverages, such as relaxation drinks, energy drinks, and ready to drink coffees and teas, is gaining popularity owing to their low-calorie contents is anticipated to propel the Non-Alcoholic Beverage Market during the forecast period 2020-2025. According to the World Health Organization (WHO), in 2016, more than 1.9 billion adults aged 18 years and older in the world were under the overweight category. Moreover, in 2016, more than 340 million children and adolescents aged between 5 to 19 were overweight or obese. These health issues are poised to promote the utility of non-alcoholic beverages including functional drinks.
According to a report published by the Global Burden of Disease, in 2017, more than 310,000 deaths, coupled with over 10 million people with disability adjusted life years (DALYs), were caused owing to alcohol consumption in the European countries. In addition, EU-28 Member States has witnessed more than 125,000 deaths owing to cancer that is majorly caused with alcohol consumption. These harmful effects are projected to expand the utility of the non-alcohol beverages among the European countries.
Report Coverage
The report: “Non-Alcoholic Beverage Market Forecast (2020-2025)”, by Industry ARC, covers an in-depth analysis of the following segments of the Non-Alcoholic Beverage Market:
By Product Type: Carbonated Beverages, Non-Carbonated Beverages, RTD Beverages, Sports Drinks & Energy Drinks and Others.
By Packaging Types: Bottles, Metal Cans, Cartons and Others.
By Distribution Channel: Store-based and Non Store-based.
By Geography: North America, Europe, Asia-Pacific and RoW.
Key Takeaways
- North America dominated the Non-Alcoholic Beverage Market with a share of 39% in the year 2019.
- The factors such as growth of non-alcoholic beverage market can be attributed to rising awareness about healthy lifestyle & wellness, rising disposable income and an increasing number of people consuming soft drinks and juices with their meals are amongst the major factor projected to impel growth of Non-Alcoholic Beverage Market.
- Changing tastes and preferences of consumers, and consumer propensity towards consumption of food & beverages, marketing activities by leading brands, including endorsements by leading film stars are the key factors owing to the growth in the segment during forecast period 2020-2025.
Distribution Channel - Segment Analysis
On the basis of distribution channel, supermarkets and general merchandise of the store-based segment held the major share of the market in terms of revenue and is set to grow with a CAGR of 8.22%. The reason is set to be attributed to the ability of the industry player to bring diverse food products to the market and distribute them through a highly efficient distribution channel such as large-scale supermarkets or retailers such as Safeway, Wal-Mart and Carrefour, resulted in the hike in demand for Non-Alcoholic Beverages. For instance, in February 2019, 7-Eleven, one of the world’s largest convenience store chains, signed an agreement with Future Group to launch its first store in India, which is set to be one of the fastest growing retail markets. In addition, in March 2019, according to a report published by The Wall Street Journal, Amazon is launching a new brand for grocery stores across major cities of U.S. for gaining the larger market share.
Advancements in recycling and beverage manufacturing technology coupled with rising disposable income and standard of living are set to foster the growth of this industry. The increase in demand with consideration of enormous population in developing nations, such as India and China, is creating a favorable market for increased production with high growth potential.
presence of emerging economies, high disposable income, and various untapped markets.
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