Global Non-Alcoholic Beverage Market
Non - Alcoholic Beverage Market
Non-alcoholic beverages are available in the market in various forms such as fruit juices, soft drinks, ready-to-drink coffee, tea, energy drinks, bottled water, isotonic drinks, and others. The global concern for good health has motivated many people to shift from alcoholic beverages to non-alcoholic beverages. Leading manufacturers are concentrating on new product launches to match the changing consumer preferences. The non-alcoholic beverage market size was around USD 1545 billion in 2015 and is expected to record at 4.4% CAGR during the forecast period 2018-2023.
The market is driven by factors such as changing lifestyles and consumer preferences, demand through growing population and increase in high disposable income. Consumer awareness regarding the health effects of artificially sweetened beverages, and government regulations for ingredient use in beverages are reported to be major constraints on the market growth. The global non-alcoholic beverage industry has some good opportunities in the market, such as innovative drink products with low or zero artificial sweeteners, and penetration in the developing market and different demography.
The non-alcoholic beverage market can be broadly segmented by products types, sales distribution channels, and by geography. By product types, non-alcoholic beverage market can be classified into carbonated and non-carbonated beverages. Carbonated beverages contain cola beverage with carbonated water, such as soft drinks. More than 30% of the global share is covered by carbonated soft drink products. Non-carbonated beverage market contains fruit juice, ready-to-drink coffee, tea, energy drinks, bottled water and isotonic drinks. By sales and distribution channel types, this market can be segmented into hypermarket, supermarket, convenience store, departmental stores, specialty store, and online purchase.
With a market share of more than 20%, North American region is the largest market for non-alcoholic beverages, followed by the Asia-Pacific region. North America is a saturated market and is growing at a slow pace. Asia-Pacific is the fastest growing market for non-alcoholic beverages led by populated countries like India, Singapore and China. This region shall soon be the largest market due to hot weather, large population and high thirst crunching product demand in the region. South America and Africa region are also expected to grow at a promising rate.
The competition in global non-alcoholic beverages market is reported to be huge mostly in the developed world, such as the North America and European region. These are the largest markets with slow growth rate and steady demand. The growth opportunities are still in developing region such as the Asia-Pacific. China and India are the fastest growing markets for non-alcoholic beverages. It is because of the huge population driven demand of non-alcoholic beverages products in such countries. The growing demand for thirst crunching products and multiple market distribution channels and the popularity of various non-alcoholic beverages items would help the market to grow at a good pace.
Multiple product launches, innovative products, healthy items, huge marketing & promotional activities, and mergers and acquisitions with smaller level players have been strong business strategies for market growth in the region. The marketplace is dominated by few leading companies; top players of non-alcohol beverage markets include:
Attitude Drinks Inc.
Dr. Pepper Snapple Group Inc.
Parle Agro Ltd
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