United States, New York, New York - 07/11/2019 (PRESS RELEASE JET)
Global Non-alcoholic Beverage Market is anticipated to reach USD 1.60 trillion by 2025. Non-alcoholic Beverage is also termed as "Virgin drink or Zero ABV Drinks’’. Non-alcoholic beverages contain less than 0.5% alcohol. The factors that drive the growth of the market include increasing awareness among consumers toward proper health and well-being, changing lifestyle, influx of convenience beverages. Furthermore, increasing focus on R&D among key players with regards to low, zero-calories and zero proof beverages is estimated to witness high growth in the years to come.
On the other hand, there are factors that may hamper the growth of the market such as strict government rules and regulations related to the ingredients in non-alcoholic beverages and increasing awareness regarding among consumers regarding health hazards such as diabetes resulting out of excessive consumption of non-alcoholic beverages. The market is anticipated to grow at a significant CAGR of 5.8% in the upcoming period as the scope, product types, and its applications are increasing across the globe.
Non-alcoholic Beverage Market may be explored by product, distribution channel and geography. Market may be explored by products as Functional Beverages, Carbonated Soft Drinks (CSDs), Sports Drinks, Fruit Beverages, Bottled Water , Zero ABV drinks and other. The "Functional beverage" dominated the Beverage Market in 2018 and anticipated to maintain its dominance by 2025.
Non-alcoholic Beverage Market may be explored by distribution channel as Vending Machine Operations, Supermarkets and general merchandisers, Convenience Stores & Gas Stations, Food Service & Drinking Places, and Other. The "Supermarket and Convenience stores" segment dominated the Non-alcoholic Beverage Market in 2018 and is anticipated to maintain its dominance by 2025. Expanding food and beverage services comprising fast-food joints, full-service restaurants, primary distribution channel, and takeaway outlets, will upsurge the growth of this segment in the forecast period.
North America accounted for the major share of the Non-alcoholic Beverage Market Size in 2018 and will continue to lead in the forecast period. Additionally, the increasing youth population, particularly in emerging countries of Asia Pacific, is the major trend anticipated to alter the drinking pattern in favor of non-alcoholic drinks. The population is actively trying new flavors as refreshing substitutes and zero proof drinks or alcohol free spirits. This is anticipated to predict healthy growth for the Non-alcoholic beverage market in the forecast period.
Some of the key players that fuel the growth of the Non-alcoholic Beverage Industry comprise Arkay Beverages Inc , Suja Life, LLC, Dr. Pepper Snapple Group, Fresh Bev, PepsiCo, Inc., A.G. Barr, Dydo Drinco, Livewire Energy; Calcol, Inc., Attitude Drinks, Co., Danone, Nestle S.A., and Kraft Foods Group, Inc. Arkay Beverages SA de CV , and the Coca-Cola Company. The leading companies are taking up partnerships, mergers and acquisitions, and joint ventures in order to boost the inorganic growth of the industry.
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