Global Low Alcoholic Beverages Market Size, Share, Growth Analysis, By Type(Beer, Wine), By End-User(Supermarkets, Shopkeepers) - Industry Forecast 2022-2028

Global Low Alcoholic Beverages Market size was valued at USD 1.27 billion in 2021 and is poised to grow from USD 1.34 billion in 2022 to USD 2.25 billion by 2030, growing at a CAGR of 5.9% in the forecast period (2023-2030).

The global low alcoholic beverages market is projected to grow significantly over the forecast period due to changing consumer preferences towards low alcoholic content drinks. The increasing trend of health-consciousness, and a rise in disposable income are also driving the market growth. Additionally, the emergence of new players in the market and innovative product launches is further boosting the demand for low alcoholic beverages.

Top-down and bottom-up approaches were used to estimate and validate the size of Low Alcoholic Beverages market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined by using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Segments covered in this report

The global Low alcoholic beverages market has been segmented based on type, end-user, and region. By type, the market is segmented into beer, wine, spirit, and RTDs. Based on the end-user classified as supermarket and shopkeeper. Based on region low alcoholic beverages are segmented into North America, Europe, Asia-Pacific, South America, and MEA.

Driver

Mocktails are gaining more and more popularity amongst the younger generation, while traditional alcoholic drinks still remain popular. The market for low-alcohol beverages has experienced growth due to the increased availability of non-alcoholic options. The prolonged period of staying at home during the COVID-19 pandemic has also contributed to the rise in popularity of low-alcohol beverages amongst adults. Many individuals who previously only consumed hard liquor have developed an interest in low-alcohol drinks as a result of the pandemic.

Restrain

Excessive consumption of carbonated drinks is a major contributing factor that hinders the expansion of the non-alcoholic beverages market globally. Additionally, the imposition of higher taxes by governments on raw materials used in non-alcoholic beverage production, especially sugar, and the implementation of stringent regulations on water usage in the manufacturing of non-alcoholic beverages are expected to impede the growth of the worldwide non-alcoholic beverages market during the forecast period.

Trend

The trend of consuming "nolo" drinks, which are also known as no and low-alcohol beer, is rapidly gaining popularity among 18-24-year-olds in the UK. As a means of enjoying themselves, young people are opting for low-alcohol beverages or non-alcoholic alternatives. The annual British craft beer study has revealed that one-third of young adults have cut down on their alcohol consumption and are turning to low ABV beers to quench their thirst without suffering from a hangover. Big Drop, a reputable alcohol-free artisan brewer based in London, has witnessed a significant surge in sales of their range of beers. The growing global popularity of nolo drinks is expected to support the growth of the low ABV market.