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Non-Alcoholic Beverages Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type, Packaging Type, Category, and Distribution Channel

Non-Alcoholic Beverages Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type, Packaging Type, Category, and Distribution Channel

  • August 2022
  • 180 pages
  • ID: 6321059
  • Format: PDF
  • The Insight Partners

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The non-alcoholic beverages market is expected to grow from US$ 1,247.20 billion in 2021 to US$ 1,888.57 billion by 2028. It is estimated to grow at a CAGR of 6.2% from 2022 to 2028.

Non-alcoholic beverages include various products such as carbonated soft drinks, juices & nectars, bottled waters, dairy-based beverages, alternative dairy beverages, RTD tea & coffee, smoothies, and energy and sports drinks.Over the past few years, awareness regarding health and nutrition increased significantly.

Due to hectic working schedules and busy lifestyles, people cannot concentrate on their health and fitness, which leads to various health issues such as diabetes, obesity, skin diseases, eye problems, heart diseases, and cancer.People are increasingly spending on nutrient-enriched food and beverages to boost their health and reduce the risk of chronic diseases.

This factor created a massive demand for functional food and beverages.Functional beverages usually contain one or more nutrients such as proteins, vitamins & minerals, good carbs, probiotics, and other nutrients that address specific health concerns of consumers.

They enhance the overall physical state of the body and reduce the risk of disease progression. Moreover, functional beverages keep the body well-hydrated and enhance immune health. Furthermore, functional beverages also support targeted and personalized health goals such as weight management, enhancing gut and immune health, and improving skin and hair health. This factor has enhanced their popularity among consumers of various age groups. Thus, the rising demand for functional beverages drives the non-alcoholic beverages market growth.

The global non-alcoholic beverages market is segmented into distribution channel into supermarkets & hypermarkets, convenience stores, online retail, and others.The supermarkets & hypermarkets segment held the largest share in the global non-alcoholic beverages market in 2021, whereas the online retail segment is expected to register the fastest CAGR from 2022 to 2028.

Supermarkets and hypermarkets are huge retail establishments offering extensive products such as personal care, groceries, and household products.These stores provide products from various brands at a reasonable price.

It is easier for shoppers to find the right product at these stores.Moreover, these stores offer attractive discounts, multiple payment options, and a pleasant customer experience.

Non-alcoholic beverage manufacturers usually prefer selling their products through supermarkets and hypermarkets owing to heavy customer footfall. Moreover, many leading non-alcoholic beverage manufacturers sell their products through well-known supermarkets such as Walmart, Aldi, and Tesco, owing to their customer reach and wide distribution network. These factors are driving the segment’s growth

In 2021, Asia Pacific held the largest revenue share of the global non-alcoholic beverages market.Emerging countries in the Asia Pacific are witnessing a surge in health-conscious consumers, creating strong demand for non-alcoholic beverages, including energy drinks and fortified juices.

Further, rising health consciousness, increasing awareness of the need for an active lifestyle, and the growing prevalence of lifestyle diseases inspire health-oriented consumers to opt for healthy and sugar-free drinks.This factor also contributes to the growth of the non-alcoholic beverages market across Asia Pacific.

Further, there is a high prevalence of lactose intolerance in Asia Pacific countries such as Japan and South Korea, driving the demand for alternative dairy beverages. This factor also favors the non-alcoholic beverages market growth across Asia Pacific.

Some players operating in the global non-alcoholic beverages market include The Coca Cola Company, PepsiCo, Nestle, Red Bull, Suntory Holdings Limited, Danone S.A., Califia Farms LLC, Keurig Dr Pepper Inc, Asahi Group Holdings Limited, and Bolthouse Farms Inc., among others. The manufacturers of non-alcoholic beverages are making significant investments to launch innovative products that meet the changing requirements of consumers. For instance, WYNK, a US-based beverage manufacturer, offers CBD and THC-infused seltzer in different flavors such as lime, mango, and black cherry. The product contains 2.5 mg of CBD and THC per can, which provides a relaxing and calming effect. Such developments will drive the non-alcoholic beverages market growth in the coming years.

The overall size of global non-alcoholic beverages market has been derived using both primary and secondary source.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.

Also, multiple primary interviews have been conducted with industry participants to validate the data, as well as to gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the non-alcoholic beverages market.

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