Zion Market Research has published a new report titled “Non-Alcoholic Beverage Market By Product (Carbonated Soft Drinks (CSD), Fruit Beverages, Bottled Water, Functional Beverages, and Sports Drinks), By Distribution Channel (Super markets & General Merchandisers, Food Service & Drinking Places, Gas Stations & Convenience Stores, Vending Machine Operations, and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 – 2024”. According to the report, global demand for non-alcoholic beverage market was valued at approximately USD 1,157.31 billion in 2017, and is expected to generate revenue of around USD 1,650.28 billion by the end of 2024, growing at a CAGR of around 5.2% between 2018 and 2024.
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Non-alcoholic beverages have grown significantly in the recent years due to the impact of drink-driving laws. People are have now become aware ofthey have a their moral, social, and legal responsibility responsibilities and prefer not to drink alcohol and drive. Some people have medical conditions which do not allow them to drink alcohol, and others simply want to live a healthy lifestyle. Such factors are projected to drive non-alcoholic beverages market growth over the forecast period.
Increasing demand for functional soft drinks with few calories and less sugar from health-conscious consumers is expected to drive the industry growth over the forecast period. Moreover, companies taking initiatives also in delivering compelling products with unique flavors and innovative packaging will further upsurge the demand for non-alcoholic beverages. The regulatory environment for non-alcoholic beverages is continuously evolving. Currently, Food and Drug Administration (FDA) maintains jurisdiction regarding food and beverage labeling, ingredients, nutritional content, and health claims in the U.S. New and proposed legislation regarding health, obesity, product labeling, and environment concerns may restrain the industry growth.
The non-alcoholic beverage market is segmented on the basis of products into which areis further classified into carbonated soft drinks (CSD), fruit beverages, bottled water, functional beverages, and sports drinks. Functional beverage is the fastest growing segment. Increasing demand for value- oriented products and rising health- related concerns among consumers is expected to drive the functional beverage segment growth.
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Carbonated soft drink segment is expected tohas experienced significant growth in non-alcoholic beverage market in 2017. The growth is attributed due to the changing consumer preference owing to increasing awareness levels towards healthy products. Furthermore, food and beverage manufacturers focus on developing beverages which are obtained from plant-based protein which includes grain, soy, and almond.
Based on distribution channel, the market is segmented into super markets & general merchandisers, food service & drinking places, gas stations & convenience stores, vending machine operations, and others. Food service providers and drinking places such as restaurants and hotels are the major revenue generating segments for non-alcoholic beverages market. The market players are offering different varieties in non-alcoholic beverages and are providing it to the consumers through distribution channel such as, retailers or large-scale supermarkets which has increased the sales of the product.Sales of non-alcoholic beverages mostly depend on industry player to offer varied food products to the consumer through distribution channel such as, retailers or large-scale supermarkets which includes Walmart, Safeway and Carrefour. Increased number of distribution channels and their presence in urban areas as well as and rural areas areis expected to drive industry growth.
North America, Europe, Asia- Pacific, Latin America, and the Middle East & Africa are key regional segments of the global non-alcoholic beverage market. North America held major revenue share in 2016, due to huge acceptance of soda products and the existence of developed economies in the region. Presence of major industry players and rising number of obesity in the region will further drive industry growth over the forecast period. Asia Pacific is the held the highest growth rate due to the huge population, untapped markets in the region, and increasing disposable income of people. Asia pacific Pacific also has a competitive advantage over other areas regions due to the availability of low-cost labor and raw materials.
Some of the key players in the non-alcoholic beverage market includes PepsiCo, Dr. Pepper Snapple Group, The Coca-Cola Company, Reed’s, Jones Soda Co., The Kraft Heinz Company, Nestle S.A., Appalachian Brewing Co., and Molson Coors Brewing Company. PepsiCo, Dr. Pepper Snapple Group, The Kraft Heinz Company, The Coca-Cola Company, Reed’s, Appalachian Brewing Co., Jones Soda Co., Nestle S.A. and Molson Coors Brewing Company.
This report segments the global non-alcoholic beverage market as follows:
Global Non-Alcoholic Beverage Market: Product Segment Analysis
- Carbonated Soft Drinks (CSD)
- Fruit Beverages
- Bottled Water
- Functional Beverages
- Sports Drinks
Global Non-Alcoholic Beverage Market: Distribution Channel Segment Analysis
- Supermarkets & General Merchandisers
- Food Service & Drinking Places
- Gas Stations & Convenience Stores
- Vending Machine Operations
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Global Non-Alcoholic Beverage Market: Regional Segment Analysis
- North America
- The U.S.
- Asia Pacific
- Latin America
- The Middle East and Africa