Global Non-Alcoholic Drinks Market Size, Share, Growth Analysis, By Type(Carbonated Soft Drinks (CSD), Ready-to-Drink Coffee & Tea), By Distribution channel(Supermarkets/Hypermarkets, Food Services Sector) - Industry Forecast 2024-2031

Global Non-Alcoholic Drinks Market size was valued at USD 772 billion in 2022 and is poised to grow from USD 822.18 billion in 2023 to USD 1360.70 billion by 2031, growing at a CAGR of 6.5% in the forecast period (2024-2031).

Manufacturers in the industry are actively coordinating with these new trends and utilizing creative methods to enhance their current product portfolios as customer acceptance of the low- and no-alcohol categories rises. This calculated action creates a favorable trajectory for potential future growth. Customers' preference for non-alcoholic drinks has influenced the development of a unique market for high-end, complexly flavored soft drinks aimed at sophisticated palates. The shift in demand is highlighted by a study such as the Waitrose Food and Drink Report from October 2021, which shows a steady yearly increase of 22% in searches for alcohol-free drinks.

In response to these changing trends, brands have expanded their current product ranges or introduced new ones quickly. One such example is the American tea company Good Earth, which expanded its product line in the United Kingdom in May 2020. Their product line includes flavored and original kombucha varieties, as well as a variety of fruit and herbal, green, and black teas that are all mixed with natural ingredients. Additionally, according to the 2022 Bacardi Cocktail Trends Report, 58% of consumers worldwide are shifting to lower-ABV and non-alcoholic cocktails and beverages.

Simultaneously, producers have been spurred to reinvent their current product offerings by the growing popularity of low- and no-alcohol categories; this is a strategy that is expected to propel future growth. This market is predicted to grow as consumers become more aware of the health benefits of bottled water. Product sales are fueled by consumers' preference for bottled water over tap water, particularly among younger consumers. In response to this trend, a growing number of restaurants are offering a variety of bottled water options.

In the upcoming years, it is also anticipated that the fast expansion of eateries across the globe will greatly increase the need for bottled water. Furthermore, the desire of consumers for better physical health has resulted in a predilection for alcohol-free beverages. This is highlighted in the Goliath Consulting Group's 2021 Beverage Trends Report, which shows that consumers, especially in the United States and the United Kingdom, choose zero-proof spirits, alcohol-free cocktails, and low-calorie, low-carb drinks. The way the market is changing is opening up new possibilities for beverage producers to investigate and take advantage of.

Top-down and bottom-up approaches were used to estimate and validate the size of the Global Non-Alcoholic Drinks 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 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.

Global Non-Alcoholic Drinks Market Segmental Analysis

The market for non-alcoholic drinks is divided into segments based on distribution channels, types, and regions. The market is divided by type into carbonated soft drinks (CSD), fruit drinks, bottled water, ready-to-drink coffee and tea, and others (sports drinks & functional drinks). The market is divided into the food services industry, supermarkets/hypermarkets, convenience stores, specialty shops, and internet retailers based on the distribution channel. The market is divided into North America, Europe, Latin America, Asia-Pacific, the Middle East, and Africa based on geographic regions.

Drivers of the Global Non-Alcoholic Drinks Market

The significant demand for non-alcoholic beverages persists in areas where alcohol consumption is strongly discouraged by cultural or religious convictions, resulting in a solid market base.

Restraints in the Global Non-Alcoholic Drinks Market

Non-alcoholic beverages face competition from the growing popularity of alcohol substitutes like mocktails and non-alcoholic beers, particularly in social and celebratory contexts.

Market Trends of the Global Non-Alcoholic Drinks Market

Digital marketing and e-commerce: Especially in times of epidemic, brands use digital platforms and e-commerce to reach a larger audience while providing convenience and direct-to-consumer sales channels.

Focus on Health and Wellness: Growing consumer knowledge of the advantages of natural, low-sugar beverages has resulted in an increase in demand for plant-based substitutes, infused waters, and wellness shots, among other low-sugar options.