Non-alcoholic Beverages Market Overview
The global non-alcoholic beverages market size was valued at USD 833.1 billion in 2021 and is expected to reach USD 1,363.1 billion by 2030, at a CAGR of 5.6% from 2022 to 2030.
According to the Bacardi Cocktail Trends Report, in January 2022, in partnership with The Future Laboratory, approximately 58% of consumers globally are shifting to non‐alcoholic and low‐ABV cocktails and beverages. With the expanding acceptance of the no-alcohol and low alcohol category by consumers, manufacturers in the market are catering to the new trends and have been innovating the current product portfolio, which is likely to bode well for future growth. The COVID-19 pandemic restrictions prompted the incubation of new non-alcohol beverage trends in the market. With rising health concerns due to the virus, consumers are shifting to healthy drinks for usual days and even on occasions. The big brands are jumping in with mass offerings in categories, such as bottled water, low-carb drinks, craft, and flavored mocktails options. Such factors are likely to support the growth of the market.
Gather more insights about the market drivers, restrains and growth of the Global Non-alcoholic Beverages Market
The ripple effect of consumers opting for non-alcohol drinks and beverages has led to innovation for a whole new segment of premium, complex-tasting soft drinks aimed at adult palates. According to a Waitrose Food and Drink Report, October 2021 stated that searches for alcohol-free drinks continue to increase by 22% every year. Brands have been keeping up the pace of new trends by launching or expanding existing product lines. For instance, in May 2020, Good Earth-U.S.-based tea brand expanded its product offering in the U.K. The portfolio includes a range of fruit & herbal, green and black teas, and original and flavored kombucha, each blended with natural ingredients.
Additionally, growing concern about the COVID-19 pandemic and increased awareness of health issues are shifting consumer preferences toward healthier beverages and non-alcoholic beverages. Consumers aim to improve physical health by opting out of beverages that contain no alcoholic content. Zero-proof spirits, alcohol-free cocktails, low calories, and low carb drinks are lately preferred by the consumers in countries such as the U.S. and U.K., according to the Beverage Trends Report of 2021 by Goliath Consulting Group. Such trends have opened door to new opportunities for beverage manufacturers. For instance, in October 2021, Ritual Zero Proof announced the launch of its liquor replacement by rolling out its Gin, Whiskey, and Tequila Spirit Alternatives at Whole Foods Market stores in the U.S. and also available on Amazon.
Major retailers in the market for alcoholic and non-alcoholic drinks have been experiencing a surge in demand for such palettes with new flavors and premium ingredients. According to Instacart (American retail/grocery company) trends expert and Well+Good Wellness Trends advisors, non-alcoholic drinks such as carbonated drinks and alcohol-free cocktail sales on Instacart are up 37% in 2021 as compared to 2020. Similarly, Whole Foods has also witnessed a surge in such demands in 2020. Supermarkets are likely to expand the existing section for these beverages, expanding the brand portfolio. For instance, in May 2020, Aldi forays into alcohol-free spirits, which are vegan & sugar-free, priced at USD 11.12 per bottle. Along with product portfolio expansion, many key players are acquiring non-alcoholic brands to expand their brand portfolio. For instance, in January 2020, Diageo acquired a minority stake in Ritual Zero Proof, a non-alcoholic spirits brand. The acquisition would help the company expand its brand portfolio and launch new products in the future. Such growth trends are likely to bode well for future market growth.
Non-alcoholic Beverages Market Segmentation
Based on the Product Insights, the market is segmented into Carbonated Soft Drinks, Bottled Water, Tea & Coffee, Juices and Others.
Based on the Distribution Channel Insights, the market is segmented into Food Service, Retail, Hypermarkets & Supermarkets, Online and Others.
Based on the Non-alcoholic Beverages Regional Insights, the market is segmented into North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa (MEA)
Browse through Grand View Research’s Consumer F&B Industry Research Reports.
Market Share Insights:
Key Companies Profile:
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 customers results in pressure for product augmentation and new product development.
Some prominent players in the global Non-alcoholic Beverages market include
Order a free sample PDF of the Non-alcoholic Beverages Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research is a full-time market research and consulting company registered in San Francisco, California. The company fully offers market reports, both customized and syndicates, based on intense data analysis. It also offers consulting services to business communities and academic institutions and helps them understand the global and business scenario to a significant extent. The company operates across multitude of domains such as Chemicals, Materials, Food and Beverages, Consumer Goods, Healthcare, and Information Technology to offer consulting services.
Web: https://www.grandviewresearch.com
Media ContactCompany Name: Grand View Research, Inc.Contact Person: Sherry James, Corporate Sales Specialist – U.S.A.Email: Send EmailPhone: 1888202951Address:Grand View Research, Inc. 201 Spear Street 1100 San Francisco, CA 94105, United StatesCity: San FranciscoState: CaliforniaCountry: United StatesWebsite: https://www.grandviewresearch.com/industry-analysis/nonalcoholic-beverage-market