Global Non-alcoholic Beverages Market Prospects and Forecast 2024-2032
Market Overview:
The global non-alcoholic beverages market size is anticipated to rise significantly on account of the current trend of health and fitness and the rising inclination towards healthy beverages. As per a recent published report by Fortune Business Insights titled, “Non-alcoholic Beverages Market Size, Share & Industry Analysis, By Type (Carbonated Soft Drinks, RTD Coffee & Tea, Bottled Water, and Fruit Beverages), Distribution Channel (Supermarket/ Hypermarket, Food Services Sector, Convenience Stores, Specialty Stores, and Online Retails), and Regional Forecast, 2020-2032,”
The global non-alcoholic beverages market size was valued at USD 919.13 billion in 2019 and is projected to reach USD 1601.87 billion by 2032, exhibiting a CAGR of 6.84% during the forecast period based on our analysis in the existing report.
The Report is based on the following factors:
A 360-degree overview of the market focusing on drivers, restraints, challenges, and upcoming opportunities
Nature of market and list of key players operating in the market for non-alcoholic beverages
Detailed list of segmentation with names and figures of leading segments
Future of the market
Drivers & Restraints-
Increasing Popularity of Refreshment Drinks to Aid in Favor
Healthier choices drive non-alcoholic beverage market growth.
More people are concerned about chronic diseases and are adopting healthy habits like exercise and nutritious drinks.
This focus on health is a major reason why the non-alcoholic beverage market is growing.
Exciting new flavors and refreshing options are also boosting the market's popularity.
On the contrary, the fluctuating prices of raw materials to make non-alcoholic beverages and fluctuation in its availability, especially for seasonal fruits may cause major hindrance to the market in the coming years.
Nevertheless, the evolution of e-commerce platforms and the rising production of soft drinks to suffice to the needs of the consumers are likely to help the market witness lucrative growth opportunities in the forthcoming years.
Source: https://www.fortunebusinessinsights.com/industry-reports/non-alcoholic-beverages-market-101927
Segmentation-
Carbonated Soft Drinks Segment Emerged Dominant Owing to its Refreshing Properties
Among all segments in type, the carbonated soft drinks segment earned 39.80% share in 2019 and emerged dominant. This segment is holding the largest non-alcoholic beverages market share on account of its refreshing properties and cost-efficiency.
Regional Analysis-
Asia Pacific Held Largest Shares Attributing to Rising Disposable Income of People
Among all regions, Asia Pacific held the largest non-alcoholic beverages market share in 2019. This is attributable to the increasing modernization and adoption of western habits among people that resulted in rise in expenditure on beverage products. On the other side, the North American market earned USD 199.53 billion and will showcase significant growth in the coming years on account of rising demand for sports drinks and RTD beverages in the region. Besides this, the Europe market will witness a notable growth on account of the decline in consumption of alcoholic beverages and increasing popularity of ‘better-for-you” products, thereby promoting the consumption of healthy soft drinks.
Competitive Landscape-
Coca-Cola Company is Dominating Market Attributing to Continuous Innovations
Big brands battle it out in the non-alcoholic beverage market.
A few giants like Coca-Cola, Nestle, and PepsiCo control a large share of the market.
Coca-Cola leads the pack with its constant innovation, offering drinks like VitaminWater, probiotics, fermented beverages, and ready-to-drink options. Their recent launch of Jaljeera in India is a prime example.
Other companies are fighting back with their own innovative products and collaborations. They're signing agreements, forming joint ventures, and making partnerships to grab a bigger slice of the market.
Expect to see more exciting options in the coming years as this competition heats up!
Industry Developments:
December 2019 – The launch of a greenhouse accelerator program in 2020 was announced in North America by PepsiCo Co. to help smart startup companies provide the base for following up with the current trends in the non-alcoholic beverage segment and earn a position in the market competition.
List of Companies Profiled in the Report:
Pepper Snapple Group, Inc. (Texas, U.S.)
Monster Beverage Corp (California, U.S.)
PepsiCo, Inc. (New York, U.S.)
ITO EN Ltd (Tokyo, Japan)
The Coca-Cola Company (Georgia, U.S.)
Reed’s, Inc. (Norwalk, U.S.)
The Kraft Heinz Company (Chicago, U.S.)
Appalachian Brewing Co. (Harrisburg, U.S.)
Nestle S.A. (Vevey, Switzerland)
Arca Continental SAB de CV (Monterrey, Mexico)
Others