Market Size:
According to our analysis, the global non-alcoholic beverages market was valued at USD 919.13 billion in 2019 and is expected to reach USD 1,601.87 billion by 2032, registering a CAGR of 6.84% over the forecast period. The U.S. non-alcoholic beverages market is anticipated to see substantial growth, with its value projected to reach approximately USD 225.62 billion by 2030. In 2019, North America led the global market, accounting for a 21.71% share.
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,”
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)
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
Source: https://www.fortunebusinessinsights.com/industry-reports/non-alcoholic-beverages-market-101927
Drivers & Restraints-
Increasing Popularity of Refreshment Drinks to Aid in Favor
The growing prevalence of both acute and chronic diseases has driven people to adopt healthier lifestyles, which include regular exercise and the consumption of nutritious foods and beverages. This shift towards healthier living and dietary habits is a major factor fueling the growth of the global non-alcoholic beverages market. Additionally, the rising popularity of refreshment drinks, along with the introduction of innovative flavors and tastes, is expected to further boost market expansion during the forecast period.
However, the market may face challenges due to fluctuating prices of raw materials used in non-alcoholic beverages, particularly seasonal fruits, and potential supply shortages. Despite these obstacles, the growth of e-commerce platforms and increased production of soft drinks to meet consumer demand are likely to create lucrative opportunities for the market in the coming 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.
Non-Alcoholic Beverages Market Future Outlook* Growing Health Consciousness: More consumers are focusing on health and wellness. This trend is driving demand for low-calorie and sugar-free options.
Diverse Product Range: The market is expanding with innovative flavors and formulations. Brands are introducing everything from sparkling waters to herbal teas to meet diverse tastes.
Sustainability Focus: Eco-friendly packaging is becoming a priority. Many brands are adopting sustainable practices to appeal to environmentally conscious consumers.
Competitive Landscape-
Coca-Cola Company is Dominating Market Attributing to Continuous Innovations
The global non-alcoholic beverages market is highly consolidated, with a few key players, such as Nestlé S.A., The Coca-Cola Company, and PepsiCo Inc., holding a significant share. The Coca-Cola Company leads the market through its ongoing innovations in beverage products, including its VitaminWater line, probiotic drinks, fermented beverages, and ready-to-drink (RTD) options. For instance, in March 2019, Coca-Cola launched a Jaljeera-flavored drink in the Indian market. Other companies are also heavily investing in innovative product launches to gain a competitive advantage. Additionally, many are pursuing collaborative strategies, including agreements, contracts, joint ventures, and partnerships, to drive substantial 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.