Newark, Sept. 05, 2024 (GLOBE NEWSWIRE) -- The non-alcoholic drinks market encompasses a diverse range of beverages, including soft drinks, fruit juices, bottled water, and functional beverages. These products cater to consumers seeking refreshing alternatives to alcoholic beverages and have seen significant growth due to changing consumer preferences and increasing health consciousness. The global non-alcoholic drinks market was valued at USD 1,419.14 billion in 2023. It is projected to grow at a compound annual growth rate (CAGR) of 4.70% from 2024 to 2033, reaching an estimated USD 2,246.43 billion by the end of 2033.
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Key Insights on Non-Alcoholic Drinks Market
Asia Pacific Leads the Non-Alcoholic Drinks Market
Asia Pacific is set to dominate the non-alcoholic drinks market, driven by strong demand from developing nations like China, India, Thailand, and Malaysia. The region's growth is bolstered by government initiatives offering tax breaks, subsidies, and increased foreign direct investment limits. Consumers are shifting preferences towards functional and flavored bottled water over sugary carbonated drinks.
Key Highlights:
• Water Segment: The water segment dominated the market, with a market share of around 27.65% in 2023, fueled by the rise in tourism and user-friendly packaging.
• Retail Segment: The retail segment dominated the market, with a market share of around 57.64% in 2023, with supermarkets and hypermarkets like Whole Foods, Target, Aldi, and Walmart playing a crucial role.
Recent Development: Recent developments in the market include the introduction of innovative Flavors, low-sugar and zero-calorie options, and functional beverages enriched with vitamins and minerals. Companies are focusing on sustainability, with eco-friendly packaging and responsible sourcing becoming more prominent.
Market Dynamics:
• Drivers:
o Increasing health awareness and demand for low-calorie and sugar-free beverages.
o Rising preference for functional beverages with added health benefits.
o Growth in the global population and urbanization contributing to higher consumption.
• Restraints:
o High production costs and price volatility of raw materials.
o Intense competition among established brands and new entrants.
o Regulatory challenges and compliance with health and safety standards.
• Opportunities:
o Expanding distribution channels and online retail platforms.
o Growing interest in exotic and premium non-alcoholic beverages.
o Potential for product innovation in terms of flavors and health benefits.
Report Scope and Segmentation –
| Report Coverage | Details |
| Forecast Period | 2024-2033 |
| Forecast CAGR | 4.70% |
| 2023 Value Projection | USD 1,419.14 Billion |
| Market Size in 2033 | USD 2,246.43 Billion |
| Historical Data | 2020-2022 |
| No. of Pages | 235 |
| Report Coverage | Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends |
| Segments Covered | Product, Distribution Channel |
| Regions Covered | The regions analyzed for the market are Asia Pacific, Europe, South America, North America, and Middle East & Africa. Furthermore, the regions are further analyzed at the country level. |
| Non-Alcoholic Drinks Market Growth Drivers | Strong demand from fitness-conscious consumers |
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Regional Segmentation Analysis:
• North America: Dominates the market due to high consumption rates and a strong presence of key players.
• Europe: Significant market growth driven by increasing health awareness and diverse product offerings.
• Asia-Pacific: Rapid market expansion fueled by a large consumer base and rising disposable incomes.
• Latin America: Emerging market with growing demand for healthier beverage options.
• Middle East & Africa: Developing market with potential for growth due to changing consumer preferences.
Some of the Key Market Players:
• PepsiCo Inc.
• The Coca-Cola Company
• Nestlé S.A.
• Keurig Dr Pepper Inc.
• Red Bull GmbH
• Diageo PLC
• The Kraft Heinz Company
• Suntory Holdings Limited
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