Non-Alcoholic Beverages Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type [Carbonated Soft Drinks, Juices & Nectars (Sparkling Fruit Juices and Others), Bottled Water Dairy-Based Beverages, Dairy Alternative Beverages, RTD Tea & Coffee

The scope of our recent study, titled ""Non-Alcoholic Beverages Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Type [Carbonated Soft Drinks, Juices & Nectars (Sparkling Fruit Juices and Others), Bottled Waters, Dairy-Based Beverages, Dairy Alternative Beverages, RTD Tea & Coffee, Non-Alcoholic Beers, Malt Beverages, and Others], Packaging Type (Bottles, Cartons, Cans, and Pouches), Category (Sugar-Free and Conventional), and Distribution Channel (Supermarkets & Hypermarkets, Convenience Stores, Online Retail, and Others),"" includes the factors governing the market growth, revenue estimation and forecast, and market share analysis. It also entails the identification of significant market players and their key developments.
The non-alcoholic beverages market size is expected to grow from US$ 1,327.11 billion in 2022 to US$ 1,902.85 billion by 2028. It is estimated to grow at a CAGR of 6.2% from 2022 to 2028.

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Non-alcoholic beverages include carbonated beverages, juices and nectars, smoothies, energy and sports drinks, bottled water, dairy and non-dairy beverages, RTD tea and coffee, and others. Changing lifestyles of consumers and increasing demand for convenience food and beverages are driving the non-alcoholic beverages market. Moreover, rapidly emerging health and wellness trends are driving the consumption of non-alcoholic beverages, propelling the market growth.
The manufacturers of non-alcoholic beverages are making significant investments in research & development to launch innovative products that meet the changing requirements of consumers. They are developing clean-label and organic products with no artificial additives, colors, or flavors to meet the rising consumer demand. For instance, Rugani Juice, a South African juice brand, offers 100% natural fruit and vegetable juices with no additives. The company uses unique juice extraction and packaging technologies that produce products with a 12-months shelf life. Further, manufacturers of non-alcoholic beverages are fortifying their products with essential nutrients to meet the emerging health concerns of consumers. For instance, in 2022, Constellation Brands, Inc. launched Corona Sunbrew with 0.0% alcohol, i.e., a non-alcoholic beer added with 30% of the daily value of Vitamin D per 330 mL serving in Canada. Such products are gaining immense traction among consumers.

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The non-alcoholic beverages market is segmented into five main regions-North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America Non. Asia Pacific accounted for the largest share of the non-alcoholic beverages market in 2021. The market growth is attributed to the improving lifestyle of consumers, rising per capita income, growing health-conscious population, and availability of a wide range of products across different retail channels. The presence of leading players such as The Coca-Cola Company, PepsiCo, and Nestle operating actively in the region is also driving the non-alcoholic beverages market. These players are making significant investments in the region to increase their non-alcoholic beverages market shares. This factor is expected to provide significant momentum to the market growth in the coming years.

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Impact of COVID-19 Pandemic on Non-Alcoholic Beverages Market

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Due to the outbreak of COVID-19 in 2020, many industries faced unprecedented challenges. Initially, the food & beverage industry faced a decline in profit margins due to the shutdown of manufacturing units and supply chain disruption. The significant disruption in manufacturing facilities, along with raw material sourcing, had a negative impact on the demand for non-alcoholic beverages. However, the growing consumer focus on health and well-being promoted the demand for non-alcoholic beverages. The demand for functional beverages, fortified fruit juices, and smoothies increased as consumers focused on improving their immune health. Moreover, consumers preferred relaxation drinks such as C-BD-infused beverages and functional waters to combat pandemic-induced stress. Furthermore, non-alcoholic or 0.0% alcoholic beers also witnessed a high demand during the pandemic as consumers sought products that provided them pleasure while maintaining health. These factors positively impacted the global non-alcoholic beverages market growth.

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In 2021, the marketplace started recovering from financial losses. The governments of various countries announced relaxation in restrictions, including reopening the manufacturing units. All these factors positively influenced the global non-alcoholic beverages market growth, especially across developing regions such as Asia Pacific and South & Central America.

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1.1.1 Non-Alcoholic Beverages Market Size, by Region

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The ""Non-Alcoholic Beverages Market Analysis to 2028"" is a specialized and in-depth study of the food & beverages industry, focusing on the non-alcoholic beverages market trend analysis. The report aims to provide an overview of the market with detailed segmentation. The non-alcoholic beverages market is segmented based on type, packaging type, category, distribution channel, and geography. Based on type, the market is segmented into carbonated soft drinks, bottled waters, juices & nectars, dairy-based beverages, dairy alternative beverages, RTD tea & coffee, non-alcoholic beers, malt beverages, and others. The juices and nectars segment is further segmented into sparkling fruit juices and others. Based on packaging type, the non-alcoholic beverages market is segmented into bottles, cartons, cans, and pouches. Based on category, the market is segmented into sugar-free and conventional. In terms of distribution channel, the market is segmented into supermarkets & hypermarkets, convenience stores, online retail, and others. Based on geography, the non-alcoholic beverages market is segmented into five main regions-North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. In 2021, Asia Pacific dominated the non-alcoholic beverages market. The region is expected to register the highest CAGR during the forecast period.

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