Non-alcoholic Beverages Market Predicted to Hit US$ 27,50,678.6 Million in 2033, Riding on a Strong 4.6% CAGR | According to Persistence Market Research
The growth factors driving the Non-alcoholic Beverages Market include shifting consumer preferences towards healthier drink options, increased demand for innovative and flavored beverages, expanding health-conscious populations, and a rising trend of alcohol moderation
New York, Jan. 26, 2024 (GLOBE NEWSWIRE) — 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.
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.
The Non-alcoholic Beverages Market is a dynamic and diverse sector of the food and beverage industry that offers a wide range of drink options excluding alcoholic content. This market encompasses various products such as carbonated soft drinks, fruit juices, bottled water, energy drinks, and herbal teas, among others. Non-alcoholic beverages have gained popularity due to increasing health-consciousness, demand for innovative flavors, and the growing trend of alcohol moderation. As consumers seek healthier alternatives and unique taste experiences, the market continues to evolve with new product launches and a focus on natural ingredients. The Non-alcoholic Beverages Market is driven by changing consumer preferences and remains a vibrant segment of the global beverage industry.
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Non-alcoholic Beverages Market Report Scope:
|Market Revenue 2023
|US$ 17,74,537.8 Mn
|Estimated Revenue 2033
|US$ 27,50,678.6 Mn
|Growth Rate – CAGR
|No. of Pages
Key Market Segments Covered
Key Companies Profiled
Non-alcoholic Beverages : Market Dynamics:
The Non-alcoholic Beverages Market is characterized by dynamic and evolving dynamics driven by a variety of factors. Health consciousness among consumers is a major driver, with many individuals opting for non-alcoholic beverages as healthier alternatives to sugary or alcoholic drinks. This trend has prompted beverage manufacturers to introduce low-sugar, low-calorie, and natural ingredient-based options. Additionally, the demand for functional beverages, such as energy drinks, sports drinks, and herbal teas, has surged, reflecting consumer interest in beverages offering specific health benefits.
Environmental concerns have also played a role, as consumers increasingly seek eco-friendly and sustainable packaging options, leading to the rise of eco-conscious brands and packaging innovations.
On the other hand, regulatory changes and taxation policies related to sugary beverages and health warnings have influenced the market landscape, prompting companies to reformulate their products and adapt to shifting consumer preferences. Furthermore, the growing influence of digital media and e-commerce platforms has reshaped marketing strategies, enabling companies to reach a wider audience and engage in direct-to-consumer sales.
Overall, the Non-alcoholic Beverages Market continues to be influenced by consumer health trends, environmental concerns, regulatory factors, and digital advancements, driving innovation and shaping the industry’s future.
In a nutshell, the Persistence Market Research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the report at – https://www.persistencemarketresearch.com/market-research/non-alcoholic-beverages-market.asp
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.
- Suntory Beverage & Food Ltd went into a joint venture and acquired a share of PepsiCo’s beverage business in Thailand with Suntory. This is termed to be beneficial for both the companies. These two also had a former alliance in Vietnam.
- To expand its functional drink portfolio, Coca- Cola acquired Unilever’s AdeS plant-based beverage business in 2018. The acquisition is also expected to boost Coca-market Cola’s presence in Latin America.
- In February 2017, Keurig Dr Pepper Inc. completed the acquisition of BAI brands, which is a company producing anti-oxidant drinks for health-conscious consumers.
- In October 2017, Monster Beverage Co. introduced two new products in its ready-to-drink coffee energy drinks category: Espresso Monster’s espresso and cream and Espresso Monster’s Vanilla Espresso.
Non-Alcoholic Beverages Industry Research by Category
By Product Type:
- Low/Zero Calorie Drinks
- Low Sugar/Sugar Free Drinks
- Fruit Juice
- Vegetable Juice
- Plant Extract Juices
- Fermented Drinks
- RTD Beverages
- RTD Tea
- RTD Coffee
- Hot Drinks
- Sports & Energy Drinks
- Sports Drinks
- Energy Drinks
- Speciality Drinks
- Functional Beverages
- Dairy Based Beverages
- Fruit and Vegetable Punch
- Sherbet and Other Local Drinks
- Plant Extracts/Herbal Extracts
- Microbial Extracts
- Floral Extracts
- Carbon Dioxide
- PET Bottles
- HDPE Bottles
- Glass Bottles
- Metal Can
- Liquid Carton
- Slim Plastic Containers
- Tetra Pack
- Takeaway Cups & Tumblers
By Distribution Channel:
- Convenience Stores
- Brand Stores
- Traditional Wholesalers
- North America
- Latin America
- South Asia & Pacific
- East Asia
- Middle East & Africa
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