The latest report by IMARC Group, titled “Non-Alcoholic Beverage Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028,” finds that the global non-alcoholic beverage market reached a value of US$ 882 Billion in 2022. Non-alcoholic beverages, also known as virgin or temperance beverages, refer to soft drinks that are alcohol-free or contain alcohol reduced to 0.5 percent of liquor volume. Some commonly available product variants are bottled water, squashes, syrups, tonic, soda, Pepsi, coke, cocktails, mocktail, sports and energy drinks, ready-to-drink tea, coffee, carbonated soft drinks, and juices. These beverages help enhance cardiovascular health and digestive functioning, rehydrate the body, boost metabolism, and reduce anxiety and stress. As a result, non-alcoholic beverages are widely adopted across retail, food service, online stores, supermarkets, and hypermarkets across the globe.
Global Non-Alcoholic Beverage Market Trends:
The market is primarily driven by increasing health awareness and the growing consumer inclination toward healthy beverage options enriched with nutrients. In addition, the rising consumer consciousness regarding health and wellness is accelerating the consumption of fruit juices, functional beverages, dairy-based drinks, zero-proof spirits, alcohol-free cocktails, low calories, and low-carb drinks. Moreover, the growing prevalence of several chronic disorders caused due to regular alcohol intake, including liver cirrhosis, irregular blood pressure, gastrointestinal illness, and cardiovascular diseases, are escalating the demand for non-alcoholic beverages. Besides this, the introduction of innovative product variants with similar color, taste, and texture to alcoholic drinks and the launch of organic and natural ingredients-based variants represent other major growth-inducing factors. Along with this, governments of various countries are undertaking the initiative to spread awareness programs to curb alcohol consumption among the masses, which is providing a thrust to market growth. Apart from this, the market is further propelled by the widespread accessibility of non-alcoholic beverages across e-commerce platforms and brick-and-mortar distribution channels. Furthermore, extensive investment in research and development (R&D) activities by key players for developing new product variants are also creating a positive market outlook. Looking forward, IMARC Group expects the market value to reach US$ 1,443 Billion by 2028, exhibiting a CAGR of
5.2% during 2023-2028.
- Based on the product type, the market has been segregated into carbonated soft drinks, juices, bottled water, sports and energy drinks, RTD tea and coffee, and others.
- On the basis of the packaging type, the market has been classified into bottles, cans, cartons, and others.
- Based on the distribution channel, the market has been segmented into retail, food service, supermarkets and hypermarkets, online stores, and others.
- Region-wise, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and the Middle East and Africa.
- The competitive landscape of the industry has also been examined in the report, with some of the key players being Arizona Beverage Company, Asahi Group Holdings Ltd., Danone S.A., Keurig Dr. Pepper Inc., Nestlé S.A., Parle Agro Pvt. Ltd., PepsiCo Inc., Primo Water Corporation, Red Bull GmbH, Suja Life LLC, Suntory Beverage & Food Limited and The Coca-Cola Company.
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