New York, June 27, 2023 (GLOBE NEWSWIRE) -- Market Overview:
According to the DataM market research report, the Global Non-alcoholic Beverages Market reached US$ 750.6 billion in 2022 and is projected to witness lucrative growth by reaching up to US$ 1,242.3 billion by 2030. The market is expected to witness a 6.5% CAGR during the forecast period 2023-2030. The global beverage industry is taking advantage of a wave of fundamental change. It is constantly changing due to the non-alcoholic beverages market's growing associations with social and cultural roles.
With an increasing tendency over the previous several years, non-alcoholic beverages now account for more than 50% of the worldwide beverage industry. Due to the expanding popularity of reviving beverages and the advancement of civilization throughout human civilizations, the market provides investors with a comprehensive perspective of the industry. Manufacturers have been motivated to expand their production capacities globally by the international market's lowered trade restrictions and tariff barriers.
In the upcoming years, there will be several potentials for market development due to the rise of developing markets and altering consumer demand brought on by the introduction of novel goods. North America holds the largest market share in the non-alcoholic beverages market; advancements influence the North American non-alcoholic beverages market in biotechnology and genetic engineering.
The major global players include PepsiCo, Inc., Nestle S.A., The Coca-Cola Company, The Kraft Heinz Company, Appalachian Brewing Co., Dr. Pepper Snapple Group, Inc., Reed's, Inc., Arca Continental SAB de CV, Monster Beverage Corp and ITO EN Ltd.
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Market Drivers:
The genetic manipulation of fruit traits is a major driver for the non-alcoholic beverages market, according to a study of the non-alcoholic beverage market. Genetically engineered fruits with improved disease resistance need fewer chemical treatments, resulting in better harvests. Similarly, genetic engineering gives genetically engineered fruits insect resistance, improving agricultural yields.
Fruits that have undergone herbicide-tolerant genetic modification may effectively reduce weeds, increasing yield. Through genetic engineering, fruit quality may be improved while retaining desirable consumer qualities, including taste, texture and nutritional value. The creation of new fruit types and increased crop yields made possible by these developments in genetic engineering methods are causing the market share of non-alcoholic drinks to increase.
Market Restraints:
One key restraint of the non-alcoholic beverages market is the increasing competition and saturation within the industry. The non-alcoholic beverages market analysis indicates that with numerous players and a wide range of product options, the market has become highly competitive, making it challenging for new entrants to gain significant market share.
Additionally, the growing consumer preference for healthier and natural beverages poses a constraint, as traditional carbonated soft drinks face scrutiny for their high sugar content.
Market Opportunities:
The convenience of ready-to-drink coffee and tea beverages has led to significant growth in recent years. Expanding the range of flavors, introducing innovative packaging and exploring new brewing techniques can create opportunities for companies to tap into the growing RTD coffee and tea market.
COVID-19 Impact Analysis:
The non-alcoholic beverages market was significantly impacted by the COVID-19 epidemic. The demand originally decreased as a result of the restaurants and pubs closing. But there was a change in favor of consumption at home, which boosted retail channel revenue.
Functional and immune-boosting drinks are becoming popular due to trends in health and well-being. Sourcing and delivery were impacted by manufacturing issues and supply chain interruptions. Due to shifting customer habits, the market shifted its attention to innovation and convenience.
Russia-Ukraine Conflict Analysis:
During the Ukraine-Russia War, infrastructure destruction, store closures and mass evacuation occurred. The market for non-alcoholic beverages was immobilized during the initial days of the conflict. The inability to transport products by sea significantly complicated the operation. The nation's logistics functioned with interruptions.
Recent Developments in the Industry:
- On November 14, 2022, American Beverage Corporation, based in Stamford, CT, a wholly-owned subsidiary of Connecticut-based Harvest Hill Beverage Company, announced today that it had acquired Poppilu, the first lemonade brand for kids, founded by food industry veteran-turned-momtrepreneur Melanie Kahn.
- On October 12, 2022, Primo Water Corp., Tampa, Fla., announced that Primo Water North America (PWNA), a wholly-owned subsidiary of Primo, has acquired substantially all the assets of Crystal Spring Water Co., a bottled water company based in Rhode Island.
- On August 01, 2022, Bolthouse Farms, Bakersfield, Calif., closed its acquisition of Evolution Fresh from Starbucks, Seattle. The acquisition includes the brand, business and employees supporting Evolution Fresh. By uniting the two powerhouse brands, Bolthouse Farms looks to further accelerate the company’s leadership within the retail premium juice and refrigerated beverage categories.
Market Segmentation:
As per the research analysis, the global non-alcoholic beverages market is segmented by product type into carbonated soft drinks, bottled water, fruit beverages, ready-to-drink tea and coffee and others; by distribution channel into supermarkets/hypermarkets, convenience stores, online stores and others.
- Based on product type, the carbonated soft drinks segment offers diverse fizzy and refreshing beverages. Cola drinks, the most popular subcategory, hold a significant market share, accounting for approximately 40% of carbonated soft drink sales.
- Lemon-lime sodas, known for their tangy flavor, capture around 20% of the market. Orange and citrus-flavored drinks, including variations like grapefruit soda, hold a share of approximately 15%.
- Root beer and other flavored sodas make up the remaining 25%, with flavors like cherry, strawberry, cream soda and ginger ale attracting consumer preferences. Carbonated soft drinks remain popular, representing a substantial portion of the non-alcoholic beverage market.
- With a wide variety of flavors, these beverages cater to diverse tastes, delivering a refreshing and enjoyable experience for consumers seeking fizzy and flavorful options.
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Geographical Analysis:
The global non-alcoholic beverages market is segmented into North America, Europe, South America, Asia Pacific and Middle East & Africa.
North America Non-Alcoholic Beverages Market:
North America holds the largest market share in the non-alcoholic beverages market; advancements influence the North American non-alcoholic beverages market in biotechnology and genetic engineering. Genetic modification and genetically modified organisms (GMOs) are crucial in producing non-alcoholic beverages.
The use of transgenic fruits, which are genetically engineered to exhibit specific traits, has gained attention in the industry. Biotechnology in fruit crops is increasingly utilized to enhance their characteristics, such as flavor, nutritional content and disease resistance.
Market KeyPlayers
The major global players include PepsiCo, Inc., Nestle S.A., The Coca-Cola Company, The Kraft Heinz Company, Appalachian Brewing Co., Dr. Pepper Snapple Group, Inc., Reed's, Inc., Arca Continental SAB de CV, Monster Beverage Corp and ITO EN Ltd.
Additional Benefits Post Purchase:
1) Unlimited Analyst support for a period of 1 year.
2) Any query concerning the scope offered will be addressed within 24-48 hours.
3) An Excel sheet with market numbers will be provided separately.
The Full Report has the below insights:
- The report offers a comprehensive evaluation of the market in terms of market value (US$) and Y-o-Y Growth Rates (%). It does so via in-depth qualitative insights, historical data for 2021-2022 and verifiable projections about market size during the forecast period 2023-2030.
- Visualize the composition of the global non-alcoholic beverages market segmentation by product type, distribution channel and region, highlighting the key commercial assets and players.
- By Product Type: Carbonated Soft Drinks, Bottled Water, Fruit Beverages, Ready-to-Drink Tea and Coffee, Others
- By Distribution Channel: Supermarkets/Hypermarkets, Convenience Stores, Online Stores and Others
- By Region: North America, South America, Europe, Asia Pacific, Middle East & Africa
- Identify commercial opportunities in the global non-alcoholic beverages market by analyzing trends and co-development deals.
- The report also covers data insights on various industry forces such as Porter's five forces analysis, supply chain analysis, pricing analysis and regulatory analysis.
- Excel data sheet with thousands of data points of global non-alcoholic beverages market -level 4/5 segmentation.
- PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
- Product mapping in Excel for the key product of all major market players
- The report will provide access to approximately 61 market data tables, 64 figures and close to 180 pages.
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