Non-alcoholic beverages are considered as the non-alcoholic version of alcoholic beverages. Non-alcoholic beverages include drinks that contains less that 0.5% alcohol. Such beverages are popular in countries that enforce alcohol prohibition laws such as Kuwait, Saudi Arabia, and Iran. Changing tastes and preferences of consumers and inclination toward consumption of convenience food and beverages have led to the rise in demand for non-alcoholic beverages in the last few years. Manufacturers are focused on developing new products in order to satisfy the changing tastes and preferences of consumers. The ethanol distillation method is used to separate non-alcoholic beverages from alcoholic beverages. The global non-alcoholic beverage market has witnessed rapid changes due to factors such as rising purchasing power, improvement in the living standard of the population, and rapid urbanization.
The global non-alcoholic beverages market has been segmented based on product types and distribution channel. Based on product type, the global non-alcoholic beverage market has been segmented into carbonated drinks and non-carbonated drinks. The carbonated drinks segment is further sub-segmented into cola, carbonated water, diet drinks, among others. The non-carbonated drinks segment is further sub-segmented into fruit juices, energy drinks, tea, coffee, and others. The carbonated drinks segment dominated the global non-alcoholic beverage market due to the several strategies adopted by manufacturers such as product innovation. Demand for juices showed the fastest growth rate during the forecast period due to the rise in health awareness among consumers. In terms of distribution channel, the global non-alcoholic beverage market has been further segmented into online distribution channel and offline distribution channel. The offline distribution channel segment of the global non-alcoholic beverage market has been further sub-segmented into supermarkets and hyper markets, department stores, and convenient stores. The online distribution channel segment of the global non-alcoholic beverage market is estimated to expand at a significant growth rate during the forecast period due to easy convenience and wide range of options.
The global non-alcoholic beverage market is primarily driven by factors such as changing lifestyle and rising consumer awareness toward proper health and well-being. Additionally, the rising popularity of convenience food and beverages is resulting in the increasing demand for the global non-alcoholic beverage market. However, consumer awareness regarding health effects such as diabetes that are created by the consumption of non-alcoholic beverages is a factor that is restraining the global non-alcoholic beverage market. Additionally, stringent government rules and regulations toward the usage of ingredients utilized in non-alcoholic beverages is restraining the global non-alcoholic beverage market. Moreover, continuous product innovation among key players such as introduction of zero or low calorie drinks is anticipated to create opportunities for the global non-alcoholic beverage market during the forecast period.
The non-alcoholic beverage market is concentrated in nature and it comprises of several key players. Major players operating in the global market include Attitude Drinks Inc. (North Palm Beach, Florida, United States), The Coca-Cola Company (Atlanta, Georgia, United States), Pepsico Inc. (New York, United States), Nestle (Switzerland), Dr Pepper Snapple Group Inc. (Plano, Texas, United States), Danone (Paris, France), Parle Agro (India), A.G. Barr (Cumbernauld, United Kindom), and Britvic (Hertfordshire, United Kingdom).
This post was originally published on The Market Plan