Non-Alcoholic Beverages Market to grow by USD 281.3 Billion from 2024-2028, driven by frequent product launches and AI-powered market evolution - Technavio

NEW YORK, Oct. 25, 2024 /PRNewswire/ -- Report on how AI is driving market transformation - The Global Non-Alcoholic Beverages Market  size is estimated to grow by USD 281.3 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  5.43%  during the forecast period. Frequent product launches by vendors is driving market growth, with a trend towards increased focus on sustainable packaging. However, competition from alcoholic beverages  poses a challenge.Key market players include ABC Fruits, Asahi Group Holdings Ltd., Dabur India Ltd., Foxtrot Beverages Pvt. Ltd, Frucor Suntory Australia Pty Ltd, Ghousia Food Products Pvt. Ltd., iStore Direct Trading Pvt Ltd, Keurig Dr Pepper Inc., Manna Beverages and Ventures, National Beverage Corp., Nongfu Spring Co. Ltd., Ocean Spray Cranberries Inc., Parle Agro Pvt Ltd., PepsiCo Inc., Rachels Orchard, Refresco Group, Sajeeb Corp, SOURCE DU PAYS S.A, SUN IMPEX INTERNATIONAL FOODS LLC, and The Coca Cola Co..

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Key Market Trends Fueling Growth

The non-alcoholic beverages market is witnessing notable growth due to consumer preference for eco-friendly packaging. Companies are responding to this trend by investing in sustainable packaging solutions, such as plant-based bottles, aluminum cans with higher recycled content, and ocean-bound plastic packaging. For instance, The Coca-Cola Company in India launched 100% recycled PET bottles for carbonated beverages in October 2023. These bottles, made entirely from food-grade rPET (excluding caps and labels), carry a call-to-action message for consumers to recycle them again. The use of sustainable packaging not only appeals to environmentally conscious consumers but also differentiates brands in a competitive market. As a result, companies adhering to sustainable packaging practices are experiencing increased sales and brand loyalty, contributing to the expansion of the global non-alcoholic beverages market. 

The Non-Alcoholic Beverages market is thriving with trends like plant-based milks, cold-pressed juices, and innovative ingredients. Consumers, including lactose-intolerant and vegan individuals, seek healthy alternatives such as superfoods, adaptogens, and botanical extracts. Beverages offering digestive health, immunity, and antioxidant protection are in high demand. Marketing and advertising strategies focus on e-commerce expansion through DTC and online retail platforms. Innovative beverages catering to hydration, convenience, and natural resources like bottled water, fruit juices, and nutritious drinks continue to gain popularity. Tariff barriers pose challenges, but the beverage industry remains committed to providing refreshing, nutritious, and convenient non-alcoholic options for consumers. 

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Market Challenges

• Non-alcoholic beverages face stiff competition from their alcoholic counterparts, which offer consumers distinct experiences and social contexts. While health consciousness fuels the growth of non-alcoholic alternatives, alcoholic drinks continue to appeal due to deeply rooted cultural traditions and social rituals. Consumers are drawn to the diverse flavors and styles of alcoholic beverages, such as wines, beers, and spirits, which provide a more enjoyable and sophisticated drinking experience. Alcoholic beverages are often linked to relaxation and stress relief, and some consumers believe moderate consumption enhances enjoyment and promotes a sense of well-being. Craft beers, artisanal spirits, and premium wines have experienced significant growth, attracting consumers with unique tastes and experiences. This preference for alcoholic beverages may hinder the expansion of the non-alcoholic beverages market during the forecast period.
• The Non-Alcoholic Beverages market is thriving, with Refreshment drinks leading the way. However, challenges persist in the Beverage Industry. Tariff barriers impact import costs for manufacturers. Consumers seek Nutritious Beverages and Healthy Alternatives, driving innovation in Alcohol-free Drinks, Low-ABV Cocktails, and Functional Beverages. Hydration and Convenience are key, leading to growth in Bottled Water, Fruit Juices, and e-Commerce sales. Natural Resources are essential, but sustainability and Eco-conscious choices are important. Food safety regulations and Health consciousness influence Beverage Consumption Patterns. Beverage manufacturers respond with Low-Calorie and Natural Ingredient options, including Herbal Teas, Kombucha, Flavored Bottled Water, and Dietary drinks. Virgin Drinks, Mocktails, Near Beer, and Alcohol-free versions of popular drinks also gain popularity. Overall, the market is diverse, with offerings ranging from Soft Drinks and Energy Drinks to Coffee and Tea, Probiotics, and Plant-based Beverages.

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Segment Overview 

This non-alcoholic beverages market report extensively covers market segmentation by

1. Type 
• 1.1 Non-carbonated
• 1.2 Carbonated
2. Distribution Channel
• 2.1 Offline
• 2.2 Online
3. Geography 
• 3.1 North America
• 3.2 Europe
• 3.3 APAC
• 3.4 South America
• 3.5 Middle East and Africa

1.1 Non-carbonated-  The non-carbonated segment of the global non-alcoholic beverages market has seen notable growth due to changing consumer preferences. This segment, comprising juices and juice concentrates, has become popular among health-conscious consumers seeking alternatives to sugary sodas and alcoholic drinks. Consumers are increasingly aware of the health effects of sugar and artificial ingredients, leading them to prefer beverages perceived as natural. These products often feature clean labels and functional benefits, aligning with ethical and environmental concerns. Innovative flavors and premium positioning have added appeal, making non-alcoholic beverages attractive options in social settings. The focus on non-carbonated drinks is expected to drive segment growth and contribute to the expansion of the overall non-alcoholic beverages market during the forecast period.

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Research Analysis

The Non-Alcoholic Beverages market encompasses a wide range of Refreshment Drinks that cater to consumers seeking alternatives to alcoholic beverages. This industry includes various types of beverages such as nutritious drinks, innovative beverages, and hydration drinks. Tariff barriers can impact the pricing and availability of these beverages, especially for imported bottled water and other natural resources-based drinks. Health-conscious consumers are driving demand for healthy alternatives, leading to the growth of functional beverages, plant-based drinks, and eco-conscious choices. Convenience is also a significant factor, with e-Commerce platforms making it easier than ever to access a wide range of non-alcoholic beverages. Alcohol-free drinks, including virgin drinks, mocktails, near beer, and low-ABV cocktails, offer health benefits and cater to changing drinking habits. Other popular categories include energy drinks, juices, soft drinks, coffee, and tea. Food safety regulations ensure the quality and safety of these beverages, providing consumers with peace of mind.

Market Research Overview

The Non-Alcoholic Beverages market encompasses a wide range of Refreshment Drinks, from bottled water and fruit juices to innovative beverages, functional drinks, and plant-based options. Tariff barriers and health consciousness have driven the demand for nutritious beverages and healthy alternatives. Convenience plays a significant role, with e-Commerce platforms and mass merchandisers making Non-Alcoholic Drinks more accessible than ever. Natural resources are essential, but food safety regulations ensure their safe production and distribution. Beverage consumption patterns continue to shift, with a growing preference for Hydration drinks, Low-Calorie Beverages, and Natural Ingredients. Alcohol-free drinks, including Low-ABV cocktails, are gaining popularity as consumers seek Health and Nutrition benefits. Functional beverages, Herbal Teas, Kombucha, and Probiotics offer additional health benefits, such as Digestive Health, Immunity, and Antioxidant Protection. Innovative beverages continue to emerge, with flavored bottled water, plant-based milks, and Cold-Pressed Juices leading the way. Adaptogens, Botanical Extracts, and Superfoods are increasingly used as innovative ingredients. Eco-conscious choices, such as reusable bottles and sustainable packaging, are also becoming important considerations for consumers. Beverage manufacturers are responding to these trends by offering a diverse range of Non-Alcoholic Beverages, including Virgin Drinks, Mocktails, Near Beer, and Energy Drinks. Marketing and Advertising efforts are focusing on the health benefits of these beverages, and e-Commerce expansion and Direct-to-Consumer (DTC) sales are becoming more common. In summary, the Non-Alcoholic Beverages market is dynamic and diverse, with a focus on health, convenience, and innovation. Beverage manufacturers and retailers must stay attuned to consumer preferences and trends to remain competitive.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Type
• Non-carbonated
• Carbonated
• Distribution Channel
• Offline
• Online
• Geography
• North America
• Europe
• APAC
• South America
• Middle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio

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