Non-Alcoholic Beverages Market Segmentation by Product Type - (Carbonated, Non-Carbonated, RTD Beverages, Hot Drinks, Sports & Energy Drinks, Speciality Drinks).
Industry: Food and Beverages
Published Date: January-2023
Format: PPT*, PDF, EXCEL
Delivery Timelines: Contact Sales
Number of Pages: 432
Report ID: PMRREP18559
The market for non-alcoholic beverages can be expected to expand at a value based CAGR of 7.9% and show an increase in revenue from US$ 17,74,537.8 Mn to around US$ 27,50,678.6 Mn by 2033.
|
Non-Alcoholic Beverages Market Size (2023E) |
US$ 17,74,537.8 Mn |
|
Projected Sales of Non-Alcoholic Beverages (2033F) |
US$ 27,50,678.6 Mn |
|
Value CAGR (2023-2033) |
4.6% |
|
Value Share of Top 4 Countries (2022E) |
49% |
The global non-alcoholic beverages market has witnessed significant growth in the historical period registering a CAGR of 4.0% in the historical period and was valued at US$ 17,74,537.8 Mn in 2023. The market is expected to grow steadily with increasing awareness and benefits about applications of non-alcoholic beverages.
Consumers in America are moving towards a healthier lifestyle and seem to prefer sports and energy drinks to keep themselves fit and hydrated through the day. This factor is primarily responsible for the boost in consumption of non-alcoholic beverages across the region.
The global market for non-alcoholic beverages is estimated to reach an approximate valuation of US$ 17, 74,537.8 Mn in the forecast period.
“Shift in consumer preference leading towards transitions in beverage market”
Health conscious Americans are looking for healthy alternatives to traditional soda beverages and this has prompted non-alcoholic beverages manufacturers to launch innovative products such as cold-pressed juices, craft sodas, and other low-calorie beverages. New flavors of sparkling water and energy drinks are fast replacing soda beverages in the region. Also, North America is witnessing a rapid growth in the functional beverages segment. Beverages double up as guilt-free snacks, drinkable breakfasts, or even meal replacements. With consumers in North America demanding more nutritious, alcohol-free beverages, there has been a sharp rise in naturally produced functional beverages with inherent benefits such as blood sugar management, energy, refreshment, and immunity boosting properties.
“Increased consumer spending on food products in Asia Pacific”
Asia Pacific is witnessing an increased consumption of protein drinks, and this is not limited to just athletes and sportspeople. Women and senior citizens across the region are also showing an inclination towards protein drinks owing to health and wellness trends prevalent among the general population, especially among working women and the health conscious geriatric population in Asia Pacific. Further, there is a high preference for soft drinks among the young population in Asia Pacific. The APAC region supposedly offers the best income growth prospects in the world, and several young professionals from different parts of the world are moving to Asia Pacific for career prospects. This has fuelled the demand for and consumption of RTD beverages and soft drinks as well as healthier functional beverages among the millennial working class.
“Non-Alcoholic Beverages Witnessing Increase in Demand Across Europe”
Europe is the third largest consumer of non-alcoholic beverages after Asia Pacific and North America and the primary reason for this is an increasing consumer shift towards non-alcoholic beverages and a growing popularity of specialty tea across the region. In Europe, an emerging trend of adult or spicy drinks is being noticed of late. Spices are no longer used only in cooking; today, spices find application in non-alcoholic drinks production as well. Spices such as chili and ginger provide strong flavors to non-alcoholic beverages and are preferred by health conscious people who wish to avoid alcoholic and sugary beverages. This increasing preference for adult drinks has boosted market demand and subsequently production in the Europe non-alcoholic beverages market. Further, European consumers are shying away from sugar in a bid to promote a healthy lifestyle, and this has negatively impacted the sales of non-alcoholic beverages in the region. To boost sales and increase market share, non-alcoholic beverages manufacturers in Europe are launching old consumer favorites with a new touch and flavor. The launch of non-GMO labeled Tropicana is a classic example.
“Health and Wellness among general consumers”
Being aware of one's options and actively choosing them in the pursuit of a healthy and satisfying life is the process of wellness. Health is characterized as the absence of any diseases and the experience of happiness and stability in one's life. Global consumers are growing more and more health conscious. They are all making an effort to maintain their physical and mental health. High global demand for health beverages is anticipated to generate significant business prospects for firms in the non-alcoholic beverages industry. It is anticipated that sales of non-alcoholic beverages will reach very high levels due to the constantly growing desire for healthy, flavorful beverages with natural ingredients.
“High sugar content restricts growth of fruit juices”
The fruit juices are healthy alternatives for carbonated beverages, however high sugar content in fruit juices has alarmed consumers, especially ones in developed regions. Due to rising concern regarding additional sugar in the juice apart from fruit sugar and health adversaries caused due to the intake of excessive sugar is resulting in changing drinking habits of the consumers. The consumers in developed regions are opting for lower-calorie, unsweetened beverages, ready-to-drink teas, and functional waters, which are healthier and beneficial for the health.
How does the North American non-alcoholic beverages market hold in the forecast duration?
In North America, Canada is showing good growth and is expected to grow further with a CAGR of 3.4%. Moreover, in the product type section energy drink is showing a robust growth with signifies that the non-alcoholic beverage has a huge market in the energy drink section which is expected to grow with a CAGR of 6.6% moving, with the trend the non-alcoholic beverage has started to work in the new sector that is the organic one. Which will help attract more of the consumers to the non- alcoholic beverage market. Also, a huge shift is being observed of consumers from super/hyper market to online market where they can get access of variety of products with different prize range under one scope.
What is the Outlook for the Spanish and French Non-Alcoholic Beverages Market?
France Non-Alcoholic Beverage Market is anticipated to grow with the CAGR of 2.4%. In 2023, the market value for Non-alcoholic Beverage is 14,531.8 Bn and is expected to reach at 21,747.9 Bn in the year of 2033.
Spain Non-Alcoholic Beverage Market is anticipated to grow with the CAGR of 2.8%. In 2023, the market value for Non-alcoholic Beverage is 14,531.8 Bn and is expected to reach at 25,228.8 Bn in the year of 2033.
What is the Segmental Breakdown of the Non-Alcoholic Beverages Market?
Non-Alcoholic Beverages market has been segmented on the basis of different product type, the largest is of carbonated beverages, which represents US$ 447.6 Bn of the market, or 37.4% market share in 2023, and US$ 520.6 Bn in 2033, or 31.8%, and a CAGR of 1.5%. While RTD Coffee is the fastest growing market, with highest CAGR 7.3%
Among the packaging segments, the largest is cans, which represents US$ 623.2 Bn of the market, or 52.1%.in 2023, and US$ 878.1 Bn in 2033, or 53.1%, and a CAGR of 3.5%. Whilst cans is not the fastest growing market, it is growing at US$ 623.2 Bn to US$ 878.1 Bn annually over the course of the forecast period, and this absolute growth is larger than the other packaging market, although it registers a smaller CAGR.
Global Non-Alcoholic Beverages market is primarily characterized by an essence of fragmentation, wherein large regional and local players operate. Multinational or global players are relatively largely concentrated in Non-Alcoholic Beverages market as compared to local players and regional players. Regional players channelize to the market through their established distribution channel and are targeting the regional market with increased focus on enhancing its product portfolio. Specialty stores, supermarkets, convenience stores and online retailers are the key distribution channel which manufacturers are using for offering their non-alcoholic beverages. The market is characterized as highly organized in developing and emerging economies. In order to expand, local players are collaborating or doing mergers with the global players. On the other hand, the global players are going with aggressive expansion strategy by acquisitions of the minor companies of the region, which help them to gain the present market base and their brand loyalty in the market.
|
Attribute |
Details |
|
Forecast period |
2023-2033 |
|
Historical data available for |
2018-2022 |
|
Market analysis |
USD million for value |
|
Key regions covered |
|
|
Key countries covered |
|
|
Key market segments covered |
|
|
Key companies profiled |
|
|
Report coverage |
|
|
Customization & pricing |
Available upon request |
By Product Type:
By Source:
By Packaging:
By Distribution Channel:
By Region:
To know more about delivery timeline for this report Contact Sales
The global market for non-alcoholic beverages has a value of US$ 17,74,537.8 Mn in 2023.
The global market for non-alcoholic beverages has a value CAGR of 4.0% from 2018-2022.
The global market for non-alcoholic beverages has a value of US$ 27,50,678.6 Mn in 2033.
The global market for non-alcoholic beverages has a value CAGR of 4.6% from 2023-2033.
The top players hold more than 40-45% of the market share. They include PepsiCo Inc., The Coca-Cola Co., Suntory Beverage & Food Ltd., Dr Pepper Snapple Group Inc., Monster Beverage Corp., Tata Global Beverages Ltd.
