IMARC Group’s report titled “Non-Alcoholic Beverage Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“. The global non-alcoholic beverage market size reached US$ 882 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 1,443 Billion by 2028, exhibiting a growth rate (CAGR) of 5.2% during 2023-2028.
Factors Affecting the Growth of the Non-Alcoholic Beverage Industry:
- Emerging Health and Wellness Trends:
The growing emphasis on health and wellness is a major driver in the non-alcoholic beverage market. Consumers today are increasingly mindful of their health, seeking beverages that complement their well-being. This trend has led to a rise in demand for healthier options, including beverages with reduced sugar content, natural ingredients, and functional benefits like vitamins, antioxidants, and probiotics. Beverage companies are actively responding to this trend by reformulating existing products and introducing new ones that cater to the expanding health-conscious consumer base, aligning with evolving dietary preferences and promoting overall well-being.
- Changing Consumer Preferences:
Evolving consumer preferences are a key driver shaping the non-alcoholic beverage industry. Consumers today seek more than just traditional options; they crave unique, exotic flavors, novel ingredients, and functional benefits. This demand for variety has spurred innovation, resulting in the proliferation of specialty and craft beverages. From plant-based drinks and flavored waters to energy-enhancing formulations, companies are capitalizing on the desire for diverse and exciting beverage choices. Adaptability and the ability to meet these changing consumer preferences are essential for success in this dynamic market.
- Environmental Sustainability:
Environmental sustainability has emerged as a critical driver, particularly concerning packaging and waste management in the non-alcoholic beverage market. Consumers are increasingly conscious of the environmental impact of their choices and prefer products with sustainable packaging solutions. This includes recyclable materials, biodegradable packaging, and reduced plastic usage. To meet these expectations, beverage companies are adopting eco-friendly packaging options and sustainable practices to reduce their carbon footprint and enhance their brand image. Sustainability initiatives are now a competitive advantage, resonating with environmentally aware consumers and contributing to a brand’s market success.
Leading Companies Operating in the Global Non-Alcoholic Beverage Industry:
- Arizona Beverage Company
- Asahi Group Holdings Ltd.
- Danone S.A.
- Keurig Dr Pepper Inc.
- Nestlé S.A.
- Parle Agro Pvt. Ltd.
- PepsiCo Inc.
- Primo Water Corporation
- Red Bull GmbH
- Suja Life LLC
- Suntory Beverage & Food Limited
- The Coca-Cola Company.
For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/non-alcoholic-beverage-market/requestsample
Non-Alcoholic Beverage Market Report Segmentation:
By Product Type:
- Carbonated Soft Drinks
- Juices
- Bottled Water
- Sports and Energy Drinks
- RTD Tea and Coffee
- Others
Carbonated soft drinks represented the leading segment due to their widespread popularity, extensive flavor varieties, and consumer demand for refreshing carbonated beverages.
By Packaging Type:
- Bottles
- Cans
- Cartons
- Others
Based on the packaging type, the market has been divided into bottles, cans, cartons, and others.
By Distribution Channel:
- Retail
- Food Service
- Supermarkets and Hypermarkets
- Online Stores
- Others
Retail represented the largest segment as it includes a wide range of outlets, including supermarkets, convenience stores, and online platforms, offering consumers easy access to a diverse array of non-alcoholic beverage options.
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Global Non-Alcoholic Beverage Market Trends:
The non-alcoholic beverage market is primarily driven by the escalating demand for healthier beverage options, including low-sugar, natural, and functionally fortified drinks, due to the growing emphasis on health and wellness among consumers. Apart from this, evolving consumer preferences for unique flavors, novel ingredients, and functional benefits foster innovation and diversification in the market, leading to the proliferation of specialty and craft beverages, thereby fueling its growth. Furthermore, heightening environmental sustainability concerns, with consumers seeking products featuring eco-friendly packaging and sustainable practices that prompt beverage companies to adopt greener solutions to reduce their environmental impact, is supporting market growth.
Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARCs information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the companys expertise.
Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
Contact Us:
IMARC Group
Email: sales@imarcgroup.com
USA: +1-631-791-1145 | Asia: +91-120-433-0800
Address: 134 N 4th St. Brooklyn, NY 11249, USA
Follow us on Twitter: @imarcglobal