PUBLISHER: SkyQuest | PRODUCT CODE: 1607706
PUBLISHER: SkyQuest | PRODUCT CODE: 1607706
Global Non-alcoholic Beverages Market size was valued at USD 994.01 billion in 2022 and is poised to grow from USD 1077.35 billion in 2023 to USD 1879.91 billion by 2031, growing at a CAGR of 8.56% in the forecast period (2024-2031)
The global beverage industry is undergoing a transformative shift, driven by the increasing cultural and social significance of non-alcoholic beverages, which now represent over 50% of the market. This growing trend highlights the rising consumer interest in refreshing drinks and their integration into daily lifestyles. Furthermore, reduced trade restrictions and tariff barriers are encouraging manufacturers to enhance production capacities on a global scale. As emerging markets expand and consumer preferences evolve, particularly with the introduction of innovative products, significant growth opportunities are anticipated in the coming years. Investors should closely monitor these shifts, as they present valuable insights into the dynamic landscape of the beverage industry and the future of non-alcoholic beverages.
Top-down and bottom-up approaches were used to estimate and validate the size of the Global Non-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 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 Beverages Market Segmental Analysis
Global Non-Alcoholic Beverages Market is segmented by Product, Distribution Channel and region. Based on Product, the market is segmented into Carbonated Soft Drinks, Bottled Water, RTD Tea & Coffee, Functional Beverages, Juices, Dairy-based Beverages, Others. Based on Distribution Channel, the market is segmented into Supermarkets/Hypermarkets, Food Services Sector, Convenience Stores, Specialty Stores, Online Retails. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.
Driver of the Global Non-Alcoholic Beverages Market
The growth of e-commerce platforms is poised to be a major driver for the global non-alcoholic beverages market. As consumer reliance on internet shopping continues to escalate, the drinks sector is experiencing significant shifts due to technological advancements and changing shopping habits. According to the Worldwide E-commerce Foundation, internet users have been steadily increasing, with e-commerce accounting for nearly 30% of total grocery sales as of 2018-a figure expected to rise in the future. Consequently, beverage manufacturers are heavily investing in the establishment of innovative online platforms to capitalize on this trend, fostering industry growth in the coming years.
Restraints in the Global Non-Alcoholic Beverages Market
The global non-alcoholic beverages market faces challenges due to fluctuations in the availability and pricing of essential natural resources. Since this industry relies heavily on resources such as water and electricity, social and environmental issues often arise, including indirect greenhouse gas emissions, diminishing water supplies, and increased pollution. These disturbances hinder the supply chain and are likely to negatively affect production capacities within the market. In response to these sustainability challenges, major manufacturers, including The Coca-Cola Company and PepsiCo, have collaborated with the alcoholic beverage sector to form the Beverage Industry Environmental Roundtable (BIER), aiming to promote better sustainability practices across the industry.
Market Trends of the Global Non-Alcoholic Beverages Market
The Global Non-Alcoholic Beverages market is witnessing a transformative trend driven by escalating consumer interest in health and wellness. As millennials and younger generations seek nutrient-rich, healthier options, manufacturers are compelled to innovate, introducing diverse beverages that align with these evolving preferences, such as natural sodas and functional drinks. This adventurous consumer base is not only open to experimenting with new flavors but also prioritizes transparency and sustainability in sourcing. Consequently, companies are redefining product formulations and exploring new manufacturing techniques, fostering a dynamic market environment that caters to the growing demand for health-conscious non-alcoholic beverages worldwide.