Non-alcoholic Beverages Industry Overview
The global non-alcoholic beverages market size is expected to reach USD 1,363.1 billion by 2030, expanding at a CAGR of 5.6% during the forecast period, according to a new report by Grand View Research, Inc., owing to factors such as rising disposable income, population growth, and changing lifestyles. Increasing concerns regarding obesity and health awareness are expected to trigger the growth of low-sugar carbonated drinks, tea & coffee, and bottled water.
Brands globally have been innovating new products with new flavors and premium flavors in product categories, such as carbonated beverages, bottled water, and tea & coffee, which would further support the category growth.
For instance, in May 2021, Danone S.A. launched the first flavored and sparkling line from its Evian bottled water brand in the U.S., available in four flavors such as Raspberry & Ginseng, Lime & Ginger, Grapefruit & Basil, and Cucumber & Mint.
In terms of product, the bottled water segment is expected to be the fastest-growing segment during the forecast period.
Product launches in this segment by key players in the market are likely to supplement the overall segment growth. For instance, in July 2020, Dutch-based brand Bottle Up launched its product offering in the U.K. with its pre-filled, reusable, BPA-free, and plant-based water bottles. The bottles would be available in 438 WHSmith locations across U.K., including the train station and airport locations, such as Manchester Piccadilly, Euston, Heathrow, Luton, Waterloo, Victoria, and several hospitals.
Non-alcoholic Beverages Market Segmentation
Grand View Research has segmented the non-alcoholic beverages market based on product, distribution channel, and region:
Based on the Product Insights, the market is segmented into Carbonated Soft Drinks, Bottled Water, Tea & Coffee, Juices, and Others.
- The bottled water segment held the largest market share in 2021 and is expected to maintain its dominance during the forecast period. Rising consumer consciousness toward the health benefits of consuming bottled water is projected to drive segment growth during the forecast period. An inclination towards bottled water rather than ordinary water, particularly among younger consumers, drives product sales.
- The juices segment is projected to register the second-fastest growth from 2022 to 2030. The rising importance of leading a healthy lifestyle is expected to boost the product demand. Furthermore, new product launches by key manufacturers, such as Tropicana and The Coca-Cola Company, are projected to drive the market growth.
Based on the Distribution Channel Insights, the market is segmented into Food Service, Retail, Hypermarkets & Supermarkets, Online, and Others.
- The retail distribution channel made a larger contribution to the global market in 2021. The retail channel includes hypermarkets & supermarkets, online, and other channels. Supermarkets & hypermarkets in the sub-category hold the maximum share due to the availability of a wide range of brands and products under one roof.
- The online distribution channel is anticipated to grow at a higher CAGR during the forecast period. New entrants in the market are launching products through e-commerceplatforms such as Amazon, Walmart, and more due to ease in entry barriers on this platform.
Non-alcoholic Beverages Regional Outlook
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
Key Companies Profile & Market Share Insights
The industry is highly competitive, owing to many small and big players. Product differentiation is a crucial factor in this industry, which is driving research and innovation activities. Rapidly changing technology coupled with demanding customers results in pressure for product augmentation and new product development. Companies are spending heavily on research for developing new products to meet standards and regulations imposed across the regions. Product line stretching and extension has been a significant factor in achieving success in this industry.
In the case of consumer goods, switching cost for the customers is meager, which means companies need to engage their customers through valued offerings with efforts to develop customer experience by creating more customer-centric organizational culture. Apart from a quality product, promotion is one of the crucial processes in improving brand recognition. Companies operating in this market are heavily spending on promotional activities, trying to create a unique brand image that provides a competitive edge over others.
Some of the key players operating in the global non-alcoholic beverages market are:
- Nestlé
- PepsiCo
- Unilever
- Keurig Dr Pepper Inc.
- The Coca-Cola Company
- Cott Corporation
- Danone S.A.
- SUNTORY BEVERAGE & FOOD LIMITED
- Asahi Group Holdings, Ltd.
- Red Bull
Order a free sample PDF of the Non-alcoholic Beverages Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email: sales@grandviewresearch.com
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