Non-Alcoholic Beverages Market to Reach $1,902.85 Bn, Globally, by 2028 at 6.2% CAGR with Bottles Segment Driving Growth During 2022–2028 | The Insight Partners - Yahoo

The global non-alcoholic beverages market is dominated by conventional segment in 2021. Carbonated soft drinks segment held the largest shares in 2021, and the dairy alternative beverages segment is expected to grow at the fastest CAGR. Key companies in the non-alcoholic beverages industry include PepsiCo, Nestle, Suntory Holdings, Coca Cola Company, Danone S.A., Califia Farms LLC, Red Bull, Asahi Group Holdings, Bolthouse Farms Inc, Keurig Dr Pepper Inc, Heineken NV, Goya Foods Inc, Coolberg Beverages, and Carlsberg AS.

Pune, India, July 14, 2023 (GLOBE NEWSWIRE) -- According to our latest study on “Non-Alcoholic Beverages Market Size Report, Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type, Packaging Type, Category, Distribution Channel, and Geography,” the non-alcoholic beverages market is expected to grow from $1,327.11 billion in 2022 to $1,902.85 billion by 2028; it is estimated to grow at a CAGR of 6.2% from 2022 to 2028. The market growth is attributed to changing consumer trends, rising health-conscious population, and increasing demand for convenience food and beverages.

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In 2021, Asia Pacific held the largest share of the global non-alcoholic beverages market. Consumers in the region are becoming aware of the importance of a healthy diet and active lifestyle due to the high prevalence of diabetes. According to the International Diabetes Federation (IDF), India had 77 million diabetic patients in 2019, making it the world's second-largest diabetic population. The population is expected to reach 101 million by 2030. As per the IDF, in 2019, ~114 million adults in China had diabetes. Natural sweeteners, including stevia, are preferred by consumers in their beverages. Companies such as PepsiCo, Inc. and the Coca-Cola Company have pledged to eliminate artificial additives and lower the amount of sugar in their products. Thus, such initiatives taken by manufacturers are expected to drive the non-alcoholic beverages market growth in Asia Pacific over the forecast period.

Rising Popularity of Plant-Based Beverages to Drive Non-Alcoholic Beverages Market:
The vegan population has grown significantly in the past few years. According to Veganuary (a non-profit organization that encourages individuals worldwide to go vegan for the entire month of January), in 2022, more than 620,000 people registered for the Veganuary campaign, and the registrations increased by 200% in the last three years. The demand for alternative dairy beverages is increasing promisingly due to the rising veganism trend and the increasing lactose-intolerant population. Therefore, beverage manufacturers are increasingly launching products with plant-based claims to meet the growing demand. For instance, in February 2021, Minor Figures, a UK-based beverage brand, launched a range of barista-quality canned tea and coffee with four variants—latte, matcha latte, chai latte, and mocha. Thus, the rising popularity of plant-based beverages is driving the non-alcoholic beverages market size.

Global Non-Alcoholic Beverages Market: Segmental Overview
Based on packaging type, the non-alcoholic beverages market is segmented into bottles, cartons, cans, and pouches. The bottles segment held the largest market share in 2021, whereas the cans segment is expected to grow at the fastest CAGR over the forecast period. The bottle packaging is considered ideal for beverage and liquid food products. It can ensure extreme product integrity and the supply chain for juices, nectars, isotonic and teas, soft drinks, and liquid dairy products. It is sustainable and helps in optimizing costs. The need for bottle packaging is increasing due to the rise in demand for bottled water, juices, carbonated drinks, and RTD tea and coffee, among others. Bottles made with recycled plastics are gaining traction owing to increased sustainability concerns. This factor is further anticipated to drive the market for the segment over the forecast period.

Based on distribution channel, the non-alcoholic beverages market is segmented into supermarkets & hypermarkets, convenience stores, online retail, and others. The supermarkets & hypermarkets segment accounted for the largest market share in 2021. Online retail is one of the fastest-expanding distribution channels due to its convenience in terms of product delivery. Online retail stores offer a wider range of products with heavy discounts; consumers can conveniently buy desirable products remotely. Additionally, home delivery service attracts many consumers to shop through e-commerce portals. Moreover, these websites offer comprehensive product information, along with user feedback, which helps consumers compare products and make informed decisions. During the COVID-19 pandemic, online retail channels gained popularity as they offered home delivery services. These factors are boosting the segment's growth.

Impact of COVID-19 Pandemic on Global Non-Alcoholic Beverages Market:
The COVID-19 pandemic disturbed the operations of food and beverage manufacturers in various countries, such as the US, India, Japan, the UK, France, and Brazil. However, the non-alcoholic beverages market witnessed significant growth as consumers' health concerns increased dramatically after the outbreak. Nutrient-enriched beverages that offered immunity-boosting benefits witnessed huge demand. Moreover, the demand for 100% natural products free from synthetic additives increased in the region as consumers perceive these products to be healthier than conventional ones. These factors drove the global non-alcoholic beverages market.

In 2021, the governments of various countries relaxed certain restrictions, including lockdowns. The manufacturers were permitted to operate at full capacity, which helped them overcome the demand-supply gap. Companies relying on exports are gradually recovering due to the relaxation of border restrictions, thereby positively impacting the non-alcoholic beverages market growth.

Clean-label, GMO-free, gluten-free, and organic beverages have become more popular after the COVID-19 pandemic as consumers perceive these products to be healthier. This factor is expected to provide significant growth opportunities to the non-alcoholic beverages market over the forecast period.

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Global Non-Alcoholic Beverages Market: Competition Landscape
Key players operating in the global non-alcoholic beverages market include PepsiCo, Nestle, Suntory Holdings, Coca Cola Company, Danone S.A., Califia Farms LLC, Red Bull, Asahi Group Holdings, Bolthouse Farms Inc, Keurig Dr Pepper Inc, Heineken NV, Goya Foods Inc, Coolberg Beverages, and Carlsberg AS.. Players operating in the global non-alcoholic beverages market are focusing on providing high-quality products to fulfill customer demand. Market players are constantly focusing on strategies such as investments in research and development activities and new product launches.

In 2022, Gatorade—a PepsiCo-owned brand of sports drinks—launched "Gatorade Fit." The product has no added sugar and is free of artificial flavors, colors, and other additives. The company claims that the product has a 100% daily value of antioxidants, vitamins, and electrolytes sourced from watermelon and sea salt.
In 2021, Savvy Beverage, an Australian start-up, launched a line of nootropic drinks under the brand "Brain Boost." The drinks contain ashwagandha root extract, panax ginseng root extract, B vitamins, L-theanine, green coffee bean extract, and creatine monohydrate that uplift mood, reduce stress, improve focus, and energize the mind.
In 2021, Heineken NV expanded its 0.0% alcohol beer portfolio with the launch of Desperados Virgin 0.0%. The product was initially launched in the Netherlands and Poland, followed by Belgium.

Europe is a rapidly growing market for non-alcoholic beers. Therefore, many non-alcoholic beer companies are expanding their footprints in the European market. Such expansion strategies are expected to boost the non-alcoholic beverages market in the coming years.

Go through further research published by The Insight Partners: (Purchase with 10% Instant Discount):
Carbonated Beverages Market Forecast to 2028 - COVID-19 Impact and Global Analysis

Plant-based Beverages Market Forecast to 2028 - COVID-19 Impact and Global Analysis

Rtd Tea Market Forecast to 2028 - COVID-19 Impact and Global Analysis

Non-Alcoholic Beer Market Forecast to 2028 - COVID-19 Impact and Global Analysis

Malt Beverages Market Forecast to 2028 - COVID-19 Impact and Global Analysis

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