Non-alcoholic Beverages Market Size, Share, Analysis, Future Outlook, 2032

Market Size:

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.

List of Companies Profiled in the Report: 

The Report is based on the following factors:

Source: https://www.fortunebusinessinsights.com/industry-reports/non-alcoholic-beverages-market-101927

Drivers & Restraints-

Increasing Popularity of Refreshment Drinks to Aid in Favor

The increasing prevalence of various acute and chronic diseases have encouraged people to adopt a healthy lifestyle. These habits include regular exercise and fitness and consumption of nutritional food and beverage products. The rising inclination towards healthy lifestyle and eating habits is the key factor promoting the global non-alcoholic beverages market growth. In addition to this, the increasing popularity of refreshment drinks and the advent of innovative flavors and taste will add a boost to the growth of the market in the forecast period.

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.

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

The global market for non-alcoholic beverages is consolidated, with major shares held by a few key players such as Nestle S.A., The Coca-Cola Company, and PepsiCo Inc. The Coca-Cola Company leads the market due to its continuous innovations in beverage products, including the VitaminWater range, probiotic drinks, fermented drinks, and ready-to-drink (RTD) beverages. In March 2019, Coca-Cola introduced a new Jaljeera-flavored drink in the Indian market. Other companies in the market are heavily investing in innovative product launches to gain a competitive edge. Additionally, many are engaging in collaborative efforts, including agreements, contracts, joint ventures, and partnerships, to drive significant revenue growth in the coming years.

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.