Non-alcoholic Drinks Market : A Mix of Challenges and Opportunities for Stakeholders

The global non-alcoholic drinksmarket was valued at $820.0Billion in 2020, and is expected to reach $2,134.6 Billion by 2031 at a CAGR of 6.8%.The soft drinks segment is expected to retain its dominant position, in terms of revenue generation during the forecast period. Asia-Pacific held the leading position in the global market in 2020, and is expected to maintain its lead in the future. The market is expected to witness notable growth in the near future, owing to rise in urbanization and increased disposable income in the emerging countries. Moreover, change in lifestyle patterns toward healthy functional food and increase in prevalence of diseases due to unhealthy lifestyle escalates the demand for premium and luxury non-alcoholic beverages.

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Increased awareness of various health problems associated with alcohol has shifted the consumer preference toward non-alcoholic drinks, which drive the growth of the non-alcoholic drinksindustry. However, rise inawareness of health effects among the consumers due to excessive intake of sugary and unnaturally sweetened drinks are few of the factors to dampen the market growth.

However, rise in awareness about its effect on health due to its excessive sugar content and unnaturally sweetened flavors hamper the market growth. Consumers' purchasing decision is heavily influenced by social media, bloggers, and relatives & friends due to increased heath issues. For instance, excess sugar intake can cause obesity, diabetes, dehydration, premature birth defects, and teeth cavities in children. Furthermore, artificial sweetened drinks can cause heart disease and cancer, while caffeine content in energy drinks increases the risk of caffeine overdose. These factors have a negative effect on the growth of non-alcoholic drinks market.

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The outbreak of COVID-19 pandemic has impacted the consumption pattern of non-alcoholic drinks negatively. Soft drinks were accounted for the major share in the year 2019, owing to their huge availability in the market. However, the global non-alcoholic drinks market witnessed sudden downfall in the sales and distribution of soft drinks. Furthermore, the cancellation of international sports events such as Indian Premier League (IPL) 2020, Cricket World Cup 2020, Olympics, and other events has impacted the overall sales of beverages negatively. The market is expected to set back at its previous growth trend over the next couple of years.

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Segment Review

The non-alcoholic drinks market is segmented based on the product type and geography. By product type, the market can be segmented into soft drinks, tea & coffee, energy drinks, juices, bottled water, dairy drinks, and others. By distribution channel, the study covers supermarket/hypermarket, convenience stores, specialty stores, online retails, and others. By price point, the market is analyzed into standard, premium, and luxury categories. Geographically, the market is segmented into North America, Europe, Asia-Pacific, and LAMEA.

Key Findings of the Study

By product type, the market size of soft drinkssegment remainedthe dominant segment in the year 2020, and is expected to maintain the market share in the coming years.
Soft drinks account for nearly 45.87% and 51.40%, by revenue and volume, respectively, followed by bottled water, and dairy drinks.
By distribution channel, specialty store is the fastest growing segment owing to the increasing interest in customized products that are offering more honey-sweetened foods and drinks.
By price point, premium category is anticipated to grow with thehighest CAGR during the forecast period.
By region, Asia-Pacificledin terms of the global non-alcoholic drinks market share in 2020, and is expected to retain its dominance during the forecast period.

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Key players profiled in the report include A.G. Barr, Dr. Pepper Snapple Group, DydoDrinco, Attitude Drinks, Co., Livewire Energy; Calcol, Inc., Danone, Nestlé S.A., PepsiCo, Inc., and the Coca-Cola Company. Other major players (not profiled in report) in the industry are Kraft Foods Group, Inc., Suja Life, LLC, FreshBev, Pressed Juicery, Suntory Beverage & Food, Unilever, Asahi Group, Jacobs Douwe Egberts, and Kirin Holdings Co.

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