Non-Alcoholic Beverage Market to Grow at a CAGR of 12.74% During the Forecast Period 2020-2025

Non-Alcoholic Beverage Market size is valued at $1,592Bn in 2019, and is anticipated to grow at a CAGR of 12.74% during the forecast period 2020-2025. The Non-Alcoholic Beverage Market growth rate is attributed to the changing diet patterns to consume nutrient-rich products, rising concerns over adverse health implications associated with consumption of alcoholic drinks coupled with the shifting customer focus towards a healthy lifestyle to upscale the utility of alternative drinks including functional beverages and soft drinks. From growing concern toward obesity and other health problems in reshaping the global non-alcoholic beverage industry with increasing investments in R&D by manufacturers thereby, growing rate of regulatory approvals for new products to the demand for functional beverages, such as relaxation drinks, energy drinks, and ready to drink coffees and teas, is gaining popularity owing to their low-calorie contents is anticipated to propel the Non-Alcoholic Beverage Market during the forecast period 2020-2025. According to the World Health Organization (WHO), in 2016, more than 1.9 billion adults aged 18 years and older in the world were under the overweight category. Moreover, in 2016, more than 340 million children and adolescents aged between 5 to 19 were overweight or obese. These health issues are poised to promote the utility of non-alcoholic beverages including functional drinks.

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Distribution Channel - Segment Analysis

On the basis of distribution channel, supermarkets and general merchandise of the store-based segment held the major share of the market in terms of revenue and is set to grow with a CAGR of 8.22%. The reason is set to be attributed to the ability of the industry player to bring diverse food products to the market and distribute them through a highly efficient distribution channel such as large-scale supermarkets or retailers such as Safeway, Wal-Mart and Carrefour, resulted in the hike in demand for Non-Alcoholic Beverages. For instance, in February 2019, 7-Eleven, one of the world’s largest convenience store chains, signed an agreement with Future Group to launch its first store in India, which is set to be one of the fastest growing retail markets. In addition, in March 2019, according to a report published by The Wall Street Journal, Amazon is launching a new brand for grocery stores across major cities of U.S. for gaining the larger market share.

Advancements in recycling and beverage manufacturing technology coupled with rising disposable income and standard of living are set to foster the growth of this industry. The increase in demand with consideration of enormous population in developing nations, such as India and China, is creating a favorable market for increased production with high growth potential.

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By Geography - Segment Analysis

North America dominated the Non-Alcoholic Beverage Market with a share of 39% in 2019. The application of Non-Alcoholic Beverage has grown rapidly over the last few years owing to the presence of various untapped markets, huge population, and increasing disposable income. The region, led by the U.S., is home to many globally renowned beverage manufacturers such as PepsiCo and Coca-Cola. Growing obesity problem in the U.S. and Mexico and taxes on sugar products imposed by the government are acting as restraints for CSDs and as drivers for products made by low-calorie non-nutritive sweeteners. As per report published Department of Economic and Social Affairs, U.S., approximately 1.5 million people of the world population were added to the urban population every week.

Growing population and disposable income along with rising number of value-oriented smart consumers are developing the overall industry. Increasing consumption of takeaway products owing to busy lifestyle coupled with rapid urbanization is expanding the market. Asia Pacific followed by Middle East & Africa is anticipated to register a significant growth over the forecast period 2020-2025 owing to the presence of emerging economies, high disposable income, and various untapped markets.

Drivers – Non-Alcoholic Beverage Market

Growth investments for the development of substitutes with growing chronic diseases

With increasing investments by governmental organizations and high incidence of chronic diseases there has been an increasing investment in R&D by manufacturers and growing rate of regulatory approvals for new substitutes is estimated to boost growth of the global Non-Alcoholic Beverage market. For instance, in March 2019, Gujarat Cooperative Milk Marketing Federation Limited (GCMMF) has announced to launch fruit juices under its renowned brand name ‘Amul’ in four flavors: Orange, Apple, Mango, and Lychee.

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Challenges – Non-Alcoholic Beverage Market

Stringent Rules

The major challenge for the market is attributed to stringent government regulations which are anticipated to hamper growth of the global Non-Alcoholic Beverage market as the companies in this industry heavily use resources such as water and electricity, which are considered to be scarce. The Clean Water Act, The Clean Air Act, and The Resource Conservation and Recovery Act are several comprehensive regulatory frameworks in food and beverage market that are intended for environment and energy conservation.

Non-Alcoholic Beverage Industry Outlook

Product launches, mergers and acquisitions, joint ventures and geographical expansions are key strategies adopted by players in the Non-Alcoholic Beverage Market. In 2019, Non-Alcoholic Beverage Market share is fragmented by the top ten players present in the market. Non-Alcoholic Beverage Market top 10 companies are The Coca-Cola Company, PepsiCo, Inc., Danone S.A., Nestle S.A., Parle Agro, Suntory Beverage & Food Limited, Keurig Dr Pepper Inc., Red Bull Gmbh, Unilever, United Breweries Ltd. and others.

Acquisitions/Product Launches

In January 2019, The Coca-Cola Company launched a new range of sparkling cocktails under the brand name ‘Bar None’ in U.S. Bellini Spritz, Sangria, Ginger Mule, and Dry Aged Cider are the four flavors available in it.
In October 2018, United Breweries Ltd. entered the non-alcoholic drinks segment with the launch of lemon based drink under the brand name ‘Kingfisher Radler’.

Key Takeaways

North America dominated the Non-Alcoholic Beverage Market with a share of 39% in the year 2019.

The factors such as growth of non-alcoholic beverage market can be attributed to rising awareness about healthy lifestyle & wellness, rising disposable income and an increasing number of people consuming soft drinks and juices with their meals are amongst the major factor projected to impel growth of Non-Alcoholic Beverage Market.

Changing tastes and preferences of consumers, and consumer propensity towards consumption of food & beverages, marketing activities by leading brands, including endorsements by leading film stars are the key factors owing to the growth in the segment during forecast period 2020-2025.

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