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Non-alcoholic Beverages Market Size To Reach $1363.1 Billion By 2030, Due To Changing Lifestyles And Increasing Concerns Regarding Obesity & Health Awareness | Grand View Research, Inc.

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Non-alcoholic Beverages Market Size To Reach $1363.1 Billion By 2030, Due To Changing Lifestyles And Increasing Concerns Regarding Obesity & Health Awareness | Grand View Research, Inc.

May 25
05:45 2022
Non-alcoholic Beverages Market Size To Reach $1363.1 Billion By 2030, Due To Changing Lifestyles And Increasing Concerns Regarding Obesity & Health Awareness | Grand View Research, Inc.
Grand View Research, Inc. – Market Research And Consulting
According to new report available with Grand View Research, 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.

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.

                                      U.S. non-alcoholic beverages market size, by product 2020 - 2030 (USD Billion)

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.

  • The bottled water segment held the largest market share in 2021 and is expected to maintain its dominance during the forecast period.
  • The juices segment is projected to register the second-fastest growth from 2022 to 2030. The rising importance of leading a healthy lifestyle is expected to boost the product demand. 

Based on the Distribution Channel Insights, the market is segmented into Food Service, Retail, Hypermarkets & Supermarkets, Online and Others.

  • The online distribution channel is anticipated to grow at a higher CAGR during the forecast period. New entrants in the market are launching products through e-commerce platforms such as Amazon, Walmart, and more due to ease in entry barriers on this platform.
  • The retail distribution channel made a larger contribution to the global market in 2021.

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)

  • The Asia Pacific emerged as the fastest-growing region in the market, owing to the presence of various untapped markets, huge population, and increasing disposable income.
  • North America accounted for the second-largest market for this industry in 2021, owing to the presence of developed economies and the early adoption of soda products.

Browse through Grand View Research’s Consumer F&B Industry Research Reports.

  • Honey MarketThe global honey market size was valued at USD 8.58 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 5.2% from 2022 to 2030. Honey is an excellent source of numerous nutritional ingredients including vitamins, minerals, calcium, and antioxidants.
  • Organic Wine MarketThe global organic wine market size was estimated at USD 8.9 billion in 2021 and is anticipated to expand at a compound annual growth rate (CAGR) of 10.2% from 2022 to 2030. 

Market Share Insights:

  • January 2022: Katy Perry launched the alcohol-free beverage brand De Soi with her business partner, Morgan McLachlan. The product line of three sparkling non-alcoholic aperitifs in three flavors, such as Golden Hour, Champignon Dreams, and Purple Lune.
  • October 2021: DrinksDeli launched a zero alcohol beverage online platform in India. The company plans to sell cocktail mixers and packaged coffee.

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

  • Nestlé
  • PepsiCo
  • Unilever
  • Keurig Dr Pepper Inc.
  • The Coca-Cola Company
  • Cott Corporation
  • Danone S.A.
  • SUNTORY BEVERAGE & FOOD LIMITED
  • Asahi Group Holdings, Ltd.
  • Red Bull

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

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