openPR Logo
Press release

Non-alcoholic Spirits Market Growing at a CAGR of 8.7% to Reach $642.4 Million by 2031 | AMR

12-12-2023 10:17 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Allied Market Research

/ PR Agency: Allied Market Research
Non-alcoholic Spirits Market

Non-alcoholic Spirits Market

According to a new report published by Allied Market Research, titled, "Non-alcoholic Spirits Market," The non-alcoholic spirits market size was $281.12 million in 2021, and is estimated to reach $642.4 million by 2031, growing at a CAGR of 8.7% from 2022 to 2031.

Request Sample Copy of This Report @ https://www.alliedmarketresearch.com/request-sample/31766

Non-alcoholic spirits can be produced with ingredients such as fruits, herbs, seeds, juices, extracts, herbs, barks, among others. They are blended together to produce aromas, color, taste notes, and warmth that the producer is trying to achieve. The essence of these ingredients is extracted, transformed and refined in a variety of ways before blending and bottling.

The global non-alcoholic spirits market is anticipated to witness significant growth during the forecast period owing to health benefits associated with the consumption of non-alcoholic spirits and increase in disposable income. The increasing product launches with innovative ingredients, creating new growth opportunities for the market. On the other hand, Asia-Pacific is expected to show growth in the demand for organic non-alcoholic spirits during the forecast period.

The increase in demand for non-alcoholic alternatives among e-commerce channels and high inclination towards online shopping are major non-alcoholic spirits market trends. Manufacturers are collaborating with e-commerce channels such as Amazon, Walmart, Tesco, among others to be able to reach more consumers.

Get Report Customization @ https://www.alliedmarketresearch.com/request-for-customization/31766

According to the non-alcoholic spirits market analysis, the market is segmented on the basis of product type, category, distribution channel, and region. By product type, the market is segmented into whisky, rum, vodka, tequila, and others. On the basis of category, the market is classified into conventional and organic. According to distribution channel, the market is classified into food service and food retail. Food retail sub-segment is divided into store-based and non-store-based. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The whisky non-alcoholic spirits accounted for the largest non-alcoholic spirits market share, in terms of revenue, in 2021 as it is the most popular type of alcoholic alternative preferred among consumers. This segment is projected to dominate during the forecast period, and the market is anticipated to show significant growth in Asia-Pacific, whereas growth will remain steady in Europe.

Organic category segment witnesses a major growth in the market owing to the increasing demand for organic food & beverage products among consumers. Organic products are free from chemical fertilizers and any residues of it. During the entire process of farming from sowing to harvesting biofertilizers such as manure and compost are used to produce the food having highest nutritional content.

Talk to our Analyst @ https://www.alliedmarketresearch.com/connect-to-analyst/31766

Food retail segment holds the largest share, in terms of revenue, and is expected to grow at a CAGR of 8.84% during the forecast period. Food retail distribution channel is further bifurcated into store-based and non-store-based, among non-store-based distribution channel witnesses highest growth rate. Online stores are widely accepted by consumers in the developed countries of North America and Europe, due to rise in adoption of mobile phones and increase in penetration of internet. Non-alcoholic spirits can be conveniently sold through online stores. Rigorous online marketing supplemented with huge options, availability of detailed information, discount & free home delivery offered by various e-commerce platforms have increased the popularity of this distribution channel in the recent years. Furthermore, the industry is witnessing a significant growth in developing economies, owing to increase in internet penetration. Therefore, the online stores segment is expected to grow at the highest rate during the forecast period, and is projected to boost the growth of the non-alcoholic spirits market.

UK is one of the largest contributors in the non-alcoholic spirits market. Asia-Pacific is expected to witness a CAGR of 8.68% in organic non-alcoholic spirits owing to increasing awareness regarding the organic products. The European and North American non-alcoholic spirits markets are expected to offer lucrative growth opportunities during the forecast period. Increase in disposable income among African regions and in Asia-Pacific, and changing dietary patterns among consumers are key drivers for the non-alcoholic spirits market growth. The UK and U.S. contributed major revenue share.

The key companies profiled in non-alcoholic Spirits industry are Diageo, Pernod Ricard, Salcombe Distilling Co, Bacardi, La Martiniquaise, Lyre's Spirit Co, Spiritless Inc., Everleaf Drinks, Beverages LTD., Caleรฑo, Spirits of Virtue, Aplรณs, fritz-kulturgรผter GmbH, Escape Mocktails, Celtic Soul, Ritual Zero Proof, ROTEAU, Monday, Strykk, and FLUรˆRE. Product launch with quality is the key strategy adopted by well-established players to compete in the market.

Make a Direct Purchase @ https://www.alliedmarketresearch.com/checkout-final/c6b5e999454f815bf4320222d2a09cc3

Key findings of the study

The non-alcoholic spirits market was valued at $281.12 million in 2020, and is estimated to reach $642.41 million by 2031, registering a CAGR of 8.73% from 2022 to 2031.
By product type, the whiskey segment is estimated to witness the significant growth, registering a CAGR of 8.16% during the forecast period.
By category, the conventional segment is anticipated to grow at a CAGR of 8.7% during the forecast period.
By distribution channel, the food retail segment is estimated to witness the significant growth, registering a CAGR of 8.84% during the forecast period.
By region, Europe was the dominant region in 2021, occupying majority of the non-alcoholic spirits market demand.
By region, Asia-Pacific registered the highest growth rate and is expected to grow at a CAGR of 9.83% during the forecast period.


๐‚๐ก๐ž๐œ๐ค ๐จ๐ฎ๐ญ ๐ฆ๐จ๐ซ๐ž ๐ซ๐ž๐ฅ๐š๐ญ๐ž๐ ๐ฌ๐ญ๐ฎ๐๐ข๐ž๐ฌ ๐ฉ๐ฎ๐›๐ฅ๐ข๐ฌ๐ก๐ž๐ ๐›๐ฒ ๐€๐Œ๐‘ ๐‘๐ž๐ฌ๐ž๐š๐ซ๐œ๐ก:

>South Africa Flavored Alcohol Market- https://www.alliedmarketresearch.com/south-africa-flavored-alcohol-market-A289389

>United Arab Emirates Flavored Alcohol Market- https://www.alliedmarketresearch.com/united-arab-emirates-flavored-alcohol-market-A289388

>Saudi Arabia Flavored Alcohol Market- https://www.alliedmarketresearch.com/saudi-arabia-flavored-alcohol-market-A289387

>Brazil Flavored Alcohol Market- https://www.alliedmarketresearch.com/brazil-flavored-alcohol-market-A289386

Contact:

David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free):
+1-800-792-5285, +1-503-894-6022
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
help@alliedmarketresearch.com
Web: www.alliedmarketresearch.com
Allied Market Research Blog: https://blog.alliedmarketresearch.com

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Non-alcoholic Spirits Market Growing at a CAGR of 8.7% to Reach $642.4 Million by 2031 | AMR here

News-ID: 3324218 • Views: โ€ฆ

More Releases from Allied Market Research

Global Urinary Drainage Bags Market: Trends, Growth, and Insights to 2031
Global Urinary Drainage Bags Market: Trends, Growth, and Insights to 2031
The global urinary drainage bags market is experiencing robust growth, with its market size valued at $1.4billion in 2021 and projected to reach $2billion by 2031. This expansion represents a compound annual growth rate (CAGR) of 3.8% from 2021 to 2031, highlighting the increasing demand for these essential medical devices. Get a Sample Copy of this Report: https://www.alliedmarketresearch.com/request-sample/A17529 What Are Urinary Drainage Bags? Urinary drainage bags are specialized medical devices designed to collectโ€ฆ
Cream Powder Market to Reach $8.9 Billion by 2031 with 6.4% CAGR
Cream Powder Market to Reach $8.9 Billion by 2031 with 6.4% CAGR
The global cream powder industry was estimated at $4.8 billion in 2021 and is expected to hit $8.9 billion by 2031, registering a CAGR of 6.4% from 2022 to 2031. The cream powder market is experiencing growth due to various factors, including the increasing popularity of bakeries and HoReCa (hotels, restaurants, and cafes) and rising consumer demand for natural products. The dairy-based segment is a significant contributor to the market's growthโ€ฆ
Micro Drone Market Valued at $6.71 Billion in 2020, Expected to Reach $28.91 Billion by 2030; Growing at a CAGR of 17.2%
Micro Drone Market Valued at $6.71 Billion in 2020, Expected to Reach $28.91 Bil โ€ฆ
The global micro drone industry generated $6.71 billion in 2020, and is expected to reach $28.91 billion in 2030, witnessing a CAGR of 17.2% from 2021 to 2030. The report provides an extensive analysis of changing market dynamics, top segments, top investment pockets, regional landscape, value chain, and competitive scenario. Increased operational efficiency and rise in demand for improved surveillance drive the growth of the global micro drone market. However, strictโ€ฆ
Microwavable Foods Market to reach $230.93 billion by 2031, growing at a CAGR of 5.6%
Microwavable Foods Market to reach $230.93 billion by 2031, growing at a CAGR of โ€ฆ
The global microwaveable foods industry was accounted for $120.45 billion in 2020, and is expected to reach $230.93 billion by 2031, growing at a CAGR of 5.6% from 2022 to 2031. Rise in popularity of fast-food restaurants and large population base coupled with increase in number of quick-service restaurants drive the global microwaveable foods market. However, lack of awareness about microwavable foods hinders the market growth. On the contrary, rise inโ€ฆ

All 5 Releases


More Releases for Spirit

The Evolution of Spirit Packaging: Mini glass spirit bottles
The popularity of mini glass bottles of spirits reflects consumers' pursuit of spirit culture and their love for unique spirits. In the fierce market competition, mini glass spirit bottles [https://www.antpackaging.com/glass-liquor-bottle-glass-bottle/] have realized a relative advantage due to their unique quality and cultural value. Whether to taste the spirit fun or gift business, small glass spirit bottles are a good choice. In this article, we'll explain how mini-glass liquor bottles becameโ€ฆ
Spirit of giving on a budget
Now that Black Friday and Cyber Monday are behind us, shoppers could be thinking that the best deals are in the past. However, savings season is still going strong with lots of stores pushing hard with their discounts to lure last minute shoppers still looking for their presents this holiday season. You can finish your shopping with strong discounts. Sale promotion manager Andrew from CouponMeUp.com says, โ€œShoppers working theirโ€ฆ
Global Flavored Spirit Market Growth 2019-2024
LP INFORMATION offers a latest published report on Flavored Spirit Market Analysis and Forecast 2019-2025 delivering key insights and providing a competitive advantage to clients through a detailed report. According to this study, over the next five years the Flavored Spirit market will register a xx% CAGR in terms of revenue, the global market size will reach US$ xx million by 2024, from US$ xx million in 2019. In particular,โ€ฆ
Leaving Spirit - Debut Album "Things Change"
After more than 1.5 years of production, the time has finally come: On August 2, 2019, the debut album "Things Change" by the young german blues and southern rock band "Leaving Spirit" will be released on all digital platforms and on CD. On average, the boys and girls are younger than 20, but nevertheless they count artists like Neil Young, Eagles and Robert Johnson among their biggest influences. But it'sโ€ฆ
Global Spirit Market to 2021
MarketResearchReports.Biz presents this most up-to-date research on "Global Spirit Market to 2021" Description This publication enables readers the critical perspectives to be able to evaluate the world market for spirits. The publication provides the market size, growth and forecasts at the global level as well as for the following countries: Argentina, Armenia, Australia, Austria, Azerbaijan, Bangladesh, Bolivia, Bulgaria, Cameroon, Canada, China, Colombia, Cyprus, Czech Republic, Ecuador, Egypt, Estonia, Ethiopia, Finland, France, Georgia, Germany,โ€ฆ
KO DISTILLING ANNOUNCES FIRST โ€˜BROWNโ€™ SPIRIT
KO Distilling is releasing their first-ever brown spirit, Bare Knuckle American Wheat Whiskey, just in time for Black Friday. Containing a high wheat and no corn mash bill of 60% wheat, 30% rye and 10% malted barley, all from Bayโ€™s Best Feed Farm in Heathsville, VA, Bare Knuckle has been aged for a year in full-size 53-gallon new charred American Oak barrels. KO Distilling will unveil Bare Knuckle American Wheat Whiskeyโ€ฆ