Non-alcoholic Beverage Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Non-alcoholic Beverage Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The non-alcoholic beverage market is projected to register a CAGR of 4.7% during the forecast period (2021-2026).

The global non-alcoholic beverage market is witnessing the serious impact of COVID-19, and it is incorporating various safety standards, measurements, and quality checks, with an aim to boost consumers’ trust. Such efforts have increased the sales of products that provide functional benefits, such as immune health, which are likely to impact the market positively; demand for high sugar carbonated drinks has plummeted in both off-trade and on-trade channels.

This pandemic reshaped the packaging size landscape in 2020, as consumers chose larger pack sizes and multipacks, as they are cost-effective and reduced the necessity for more frequent trips to the store.

The booming demand for functional beverages to supplement health without altering the taste propels the non-alcoholic beverage market.

An increase in accessibility and regulations of non-alcoholic drinks globally is one of the key factors increasing the product preference leading to increased consumption. Whereas, the increasing health awareness and demand for nutrition-oriented products have affected the carbonated drinks market majorly.

Key Market TrendsOnline Sales Supplementing the Market Growth

With the rising number of consumers with hectic schedules and lifestyles, online shopping is becoming a convenient medium of shopping or buying non-alcoholic beverages and other food items. The trend of online shopping is gaining momentum, as it is convenient for consumers to buy non-alcoholic beverages online and save travel time, avoiding the rush at the stores. The online store platform has established itself as a convenient marketplace, offering a wide range of non-alcoholic beverages. The robust growth of e-commerce has offered unique opportunities to these manufacturers. Few popular online sales channels, such as Amazon, have allegedly witnessed a surge in the sales of functional beverages due to attractive offers and discounts offered by these sales channels coupled with the efficient delivery systems in place.

Increasing Consumption of Non-Alcoholic Beverages in Asia-Pacific

The Asia-Pacific food and beverage industry is growing with the highest possible rates, surpassing that of developed regions like Western Europe and North America. The region has a large and continuously growing middle-class consumer society, indicating potential growth, specifically in the iced/RTD coffee drinks segment. Although the market is growing in all countries of Asia-Pacific, the high growth rate for this area is driven by the rapid development of the Chinese and Indian markets. Carbonated drinks are poised to increase due to the largest segment in the non-alcoholic drinks segment. However, the consumption of these carbonated beverages and soft drinks is expected to decline over sugar content, and preference for healthier alternatives, such as 100% natural juice in the region studied.

Competitive Landscape

The market is highly competitive due to a large number of companies involved in the manufacturing of functional beverages. Some of the major players in the market are PepsiCo Inc., the Coca-Cola Company, Danone S.A., and Nestlé S.A., offering a range of carbonated and functional beverages. Expansions and new agreement/ partnership strategies are some of the most preferred strategies for the non-alcoholic drinks industry globally. The key players also form new agreements and partnerships with local players to increase their footprint in the local market and release new products according to the consumers’ changing preferences.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned

PepsiCo Inc.
The Coca
Cola Company
Danone SA
Nestle SA
Red Bull Gmbh
Keurig Dr Pepper Inc.
Parle Agro
Monster Beverage Corporation
AriZona Beverages USA
IBS Partners Ltd

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