Non Alcoholic Beverages Market Insights
The global non alcoholic beverages market is projected to grow at a CAGR of 5.2% over the forecast period. The demand for these drinks is likely to be driven by continuous and innovative advancements in the non-alcoholic drinks market coupled with rising purchasing parity and changing lifestyles of consumers.
Also, atmospheric factors such as increasing temperatures due to global warming are likely to boost the market growth. The market for non alcoholic beverages is further projected to be driven by the ease of entry of smaller players which cater to the local consumer tastes by maintaining competitive prices.
Increasing health awareness amongst the individuals is expected to limit the market growth. However, the manufacturers have come up with a new range of products such as diet and zero-sugar drinks to resolve the health concerns of the consumers.
Non Alcoholic Beverages Market: Product Insights
The non alcoholic beverages market is divided into tea & coffee, dairy drinks, juice, bottled water, and soft drinks amongst others. Non alcoholic beverages include drinks containing less than 0.5% alcohol such as carbonates, ready to drink tea-coffee solutions, soft drinks, energy drinks, juices, bottled water, non alcoholic wines, and beers.
Carbonated drinks recorded a significant market share in the global non alcoholic drinks market over the past few years. This is attributed to lucrative marketing strategies adopted by manufacturers to attract the consumers. The market demand for juices is projected to witness a considerable hike over the coming years due to increasing health awareness among the consumers.
Soft drinks product segment also accounted for a substantial market share over the last few years. The tea and coffee segment is likely to emerge as the most swiftly developing segment over the forecast period. This segment is anticipated to grow at a CAGR of 9% by 2025.
Non Alcoholic Beverages Market: Distribution Channel Insights
Based on distribution channels, the non alcoholic beverages market is segmented into supermarkets & general merchandisers, food service & drinking places, gas stations & convenience stores, vending machine operations and others.
The supermarkets & general merchandisers and food service & drinking places are projected to witness a lucrative growth over the coming years. The vending machines segment is also anticipated to experience a significant growth over the forecast period due to increasing number of offices and work places across the world.
Non Alcoholic Beverages Market: Regional Insights
Asia Pacific has emerged to be one of the key markets for non alcoholic beverages. It is further likely to grow at a lucrative rate over the forecast period. This growth is attributed to the increased spending capacity of consumers in emerging economies such as India and China coupled with growing count of young consumers. Moreover, the launch of ‘Make in India’ campaign is also anticipated to influence the development of non alcoholic beverages market in Asia Pacific.
U.S. accounted for a significant share of the non alcoholic drinks market over the past few years, owing to the high disposable income and food consumption patterns of consumers in the country.
Non Alcoholic Beverages Market: End-Use Landscape
The end-use landscape includes a list of current and prospective consumers prevailing across the regions. This section provides company addresses, contact details, products, and regional presence of companies who are purchasing or are likely to purchase products from the global non alcoholic beverages market. The major consumers of the product are Wal-Mart Stores, Inc. and Tesco PLC. among others.
Non Alcoholic Beverages Market: Competitive Landscape
Key players profiled in the non alcoholic beverages market include PepsiCo, Attitude Drink Co., A.G. Barr, The Coca-Cola Company, Nestle, Dr. Pepper Snapple Group, Danone, DyDo DRINCO and Britvic.
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