Asia Pacific Non-Alcoholic Beverages Market Forecast to 2028 - COVID-19 Impact and Regional Analysis by Type (Carbonated Soft Drinks, Juices & Nectars, Bottled Waters, Dairy-Based Beverages, Dairy Alternative Beverages, RTD Tea and Coffee, and Others), Pa

Asia Pacific Non-Alcoholic Beverages Market Forecast to 2028 - COVID-19 Impact and Regional Analysis by Type (Carbonated Soft Drinks, Juices & Nectars, Bottled Waters, Dairy-Based Beverages, Dairy Alternative Beverages, RTD Tea and Coffee, and Others), Packaging Type (Bottles, Cartons, Cans, and Pouches), Category (Sugar-Free and Conventional), and Distribution Channel (Supermarkets and Hypermarkets, Convenience Stores, Online Retail, and Others)

The non-alcoholic beverages market in Asia Pacific is expected to grow from US$ 466.28 million in 2022 to US$ 689.86 million by 2028. It is estimated to grow at a CAGR of 6.7% from 2022 to 2028.

Rising Popularity of Plant-Based Beverages

The vegan population has grown significantly over the past few years. People are readily switching to a vegan diet due to increased health and sustainability concerns. According to the International Food Information Council's 2021 Food and Health Survey, more than 4 out of 10 buyers believe plant-based food and beverages are healthier than conventional ones even when two products have similar ingredients and provide similar nutritional benefits. The demand for dairy alternatives is increasing promisingly due to the growing influence of veganism and the increasing lactose-intolerant population. Therefore, beverage manufacturers are increasingly launching products with plant-based claims to meet the growing demand. The products are made with oat milk and are certified vegan. In October 2020, Sanitarium, a leading Australia-based health, and nutrition company, launched a dairy-free, gluten-free, and vegan-friendly breakfast drink under the brand name UP&GO. The product is made using soy milk enriched with protein, fiber, and calcium and has a low glycemic index. Thus, the rising number of product launches under the plant-based beverage category is expected to drive the demand for non-alcoholic beverages in the coming years.

Market Overview

China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific are the key contributors to the non-alcoholic beverages market in the Asia Pacific. Emerging countries in the Pacific are witnessing a surge in health-conscious consumers, which will create demand for non-alcoholic beverages, including energy drinks and fortified juices. Further, rising health consciousness, increasing awareness regarding the need for an active lifestyle, and the growing rates of lifestyle diseases inspired health-oriented consumers to opt for healthy and sugar-free drinks. The sugar-free beverages market is also projected to grow due to increased promotional and advertisement strategies by various manufacturers operating in the market. According to the International Diabetes Federation (IDF), India had 77 million diabetic patients in 2019, making it the world's second-largest diabetic population. The population is expected to reach 101 million by 2030. In 2019, ~114 million adults in China had diabetes, as per the IDF. Consumers are becoming aware of the importance of a healthy diet and an active lifestyle due to the extreme occurrence of diabetes in Asia. Natural sweeteners, including stevia, are preferred by consumers in their beverages. Companies such as PepsiCo, Inc. and the Coca-Cola Company have pledged to eliminate artificial additives and lower the amount of sugar in their products. Thus, such initiatives taken by manufacturers boost the demand for non-alcoholic beverages among consumers in the Asia Pacific. Dairy alternatives or dairy-free products are made from almond milk, soy milk, and coconut milk, which are free from lactose. Moreover, plant-based dairy products have similar texture, creaminess, and consistency to conventional dairy products. The prevalence of lactose intolerance or malabsorption is high across the Asia Pacific due to a lack of genetic mutation for digesting lactose. According to the National Institute of Health (NIH), lactose intolerance is quite common in the adult population in East Asia, affecting 75-95% of the people in these communities. Thus, countries such as China, Japan, South Korea, and Taiwan are potential markets for dairy alternatives. Thus, the increasing prevalence of lactose intolerance and milk allergies among consumers drives the demand for dairy alternative beverages in Asia Pacific, supporting the growth of non-alcoholic beverages.

Asia Pacific Non-Alcoholic Beverages Market Revenue and Forecast to 2028 (US$ Million)

Asia Pacific Non-Alcoholic Beverages Market Segmentation

The Asia Pacific non-alcoholic beverages market is segmented into type, packaging type, category, distribution channel, and country.

Based on type, the market is segmented into carbonated soft drinks, juices & nectars, bottled waters, dairy-based beverages, dairy alternative beverages, RTD tea & coffee, and others. The carbonated soft drinks segment registered the largest market share in 2022.

Based on packaging type, the market is segmented into bottles, cartons, cans, and pouches. The bottles segment held the largest market share in 2022.

Based on category, the market is bifurcated into sugar-free and conventional. The conventional segment held a larger market share in 2022.

Based on distribution channel, the market is segmented into supermarkets & hypermarkets, convenience stores, online retail, and others. The supermarkets & hypermarkets segment held the largest market share in 2022.

Based on country, the market is segmented into China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific. Rest of Asia Pacific dominated the market share in 2022.

Asahi Group Holdings, Ltd.; Bolthouse Farms, Inc.; Califia Farms, LLC; Danone S.A.; Keurig Dr Pepper, Inc.; Nestlé S.A.; PepsiCo Inc.; Red Bull; SUNTORY HOLDINGS LIMITED.; and The Coca-Cola Company are the leading companies operating in the non-alcoholic beverages market in the Asia Pacific region.

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