Sellbyville, Delaware, March 20, 2018 (GLOBE NEWSWIRE) --
Global Non-alcoholic Beer Market is projected to surpass USD 25 billion by 2024; according to a new research report by Global Market Insights, Inc. Increasing consumer consciousness pertaining to long term effects of liquor along with consumer preferences to avoid headaches & drowsiness will propel the non-alcoholic beer market growth. Rising demand from teenagers due to stringent laws on drinking age will support the industry growth. As per UN, global population ageing between 15-24 years was 1.2 billion in 2015.
Changing demographic trends including growing Muslim population will provide positive outlook for non-alcoholic beer market. Furthermore, fatwas issued by Egyptian and Saudi clerics premising liquor free beverage consumption are expected to drive the product demand particularly in the Middle East.
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Shifting manufacturer preference to extend product portfolio including lighter alternatives will propel the industry size. Technological advancement in production process to restore fermentation and taste will support the non-alcoholic beer market size. Inclination towards flavored products including coffee, vanilla and fruit to enhance consumer experience will drive the industry growth.
Stringent government regulations on drunk driving is among key factor supporting product demand. Increasing raw material prices along with advancement in production technologies are among major factors influencing non-alcoholic beer price trend. However, lack of standardized definition on liquor content and labeling may hamper the industry growth.
Browse key industry insights spread across 300 pages with 455 market data tables & 9 figures & charts from the report, “Non-alcoholic Beer Market” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/Non-Alcoholic-Beer-market
Alcohol free beer contributed for over 50% of the industry share in 2016. Rising adoption of 0.00% ABV beverages particularly in Islamic populated countries will drive the business growth. Increasing product replacement over energy drinks particularly among athletes will fuel the product demand.
Malted grains market is anticipated to worth over USD 15 billion by 2024. Abundant availability of barley, millet, rice, wheat and oat globally supported the grains consumption in non-alcoholic beer market. Malted grains constitute a major share in the total raw material volume required in production process.
Reverse osmosis will witness growth over 7% up to 2024. Effective aroma retention along with production enhancement at low temperatures are among key properties driving the non-alcoholic beer demand. Increasing commercialization of reverse osmosis technology due to its production efficiency along with taste improvement properties will support product penetration.
Restaurants & bars are expected to witness CAGR over 6.5% up to 2024. Increasing consumer preference for on-premise drinks due to changing lifestyles will propel the non-alcoholic beer market growth. Moreover, increasing availability of non-alcoholic beverages at restaurants & bars will provide positive outlook for product demand.
Middle East & Africa non-alcoholic beer market is anticipated to witness highest growth potential with CAGR over 7% up to 2024. Rapid adoption due to product legalization by government and religious institutions will drive the regional demand. Iran is anticipated to witness notable gains with per capita consumption to reach 10 liters by 2021.
Anheuser-Busch InBev, Erdinger Weibbrau, Heineken, Weihenstephan, Kirin and Suntory are among major non-alcoholic beer manufacturers. Acquisitions, collaborations, new product launches and production capacity expansion are key strategies adopted among industry participants. For instance, in 2015, Anheuser-Busch Inbev acquired their largest competitor SABMiller.
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About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.