Global Non-Alcoholic Drinks Market to Be Valued Over USD1.28 Trillion by 2026
Inclination towards the consumption of functional drinks is a major factor propelling the global non-alcoholic drinks market.
According to TechSci Research report, “Global Non-Alcoholic Drinks Market By Product Type (Carbonated Soft drinks, Functional/Energy & Sports Drinks, Fruit Juices & Flavoured Drinks, Bottled Water and Others (Dairy-based Drinks, Tea & Coffee, Sodas, etc.)), By Distribution Channel (Supermarkets/Hypermarkets, Convenience Stores, Departmental Store, online, Others (Grocery Stores, Independence store, etc.)), By Region, By Country, Competition Forecast & Opportunities, 2016–2026F”, the global non-alcoholic drinks market size valued at USD927.50 billion in 2020 and is projected to grow at a CAGR of over 5.72% during forecast period to reach around USD1.28 trillion by 2026. Consumers nowadays are more focused on adapting a healthy lifestyle, due to which there is a rise in demand for sports drinks, energy drinks and fruit juices, which in turn is driving the growth of the global non-alcoholic drinks market. The relaxation in trade duties and tariff barriers in the overseas market have further encouraged the manufacturers to boost the production of non-alcoholic drinks worldwide.An increasing population and rising disposable income are some of the major drivers that influence the demand for non-alcoholic drinks.
However, high sugar content in non-alcoholic drinks, such as carbonated soft drinks which increases the health problems such as diabetes and obesity, are some of the challenges that hamper the growth of the global non-alcoholic drinks market. To solve this issue, manufacturers are coming up with low-calorie, sugar-free non-alcoholic drinks and fruit juices.
Browse 84 market Figures spread through 110 Pages and an in-depth TOC on ” Global Non-alcoholic Drinks Market “
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The global non-alcoholic drinks market is segmented based on product type, distribution channel, company, and region. In terms of product type, the market is segregated into carbonated soft drinks, functional/energy & sports drinks, fruit juices & flavored drinks, bottled water, and others (dairy-based drinks, tea & coffee, sodas, etc), out of which carbonated soft drinks captured the majority market share with more than 30% market share in 2020, as carbonated drinks are the most popular drinks in the market because of their taste and refreshment. However, functional/energy & sports drinks are growing at a much faster pace in the market with a projected CAGR of over 6.00% in the forecast period, due to continuous shifting of consumer preferences towards healthier alternatives of non-alcoholic drinks.
In terms of distribution channel, the market is segregated into supermarkets/hypermarket, departmental store, convenience stores/forecourt retailers, and online, out of which, supermarket and hypermarket is the largest distribution channel of the non-alcoholic drinks with around 30% of the market share in 2020. This is because, supermarkets and hypermarkets help the customers to discover a wide range of products under a single roof. However, in the coming years, online stores are projected to remain the fastest growing distribution channels with a CAGR of 8.00% over the forecast period.
Region wise, North America is the dominating region in the global non-alcoholic drinks market, holding around 35.00% of the global market share in 2020. The Coca-Cola Company and PepsiCo, Inc., are the largest non-alcoholic drink companies from the USA that hold maximum market share in the global non-alcoholic drinks market. USA and Mexico have the leading carbonated soda drinks consumption market in the world because of which people are suffering from blood sugar, obesity, and dental problems. To overcome this problem, the government has put up a soda tax and it is believed that it will cut down the sales of these aerated drinks.
Countries such as USA, Canada and Mexico, China, India, Saudi Arabia, UAE, Germany, Italy, Brazil, and Argentina, etc., have high per capita consumption of non-alcoholic drinks, combined with the development of food processing industries which drives the global non-alcoholic drinks industry.
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“The COVID-19 impacted the global non-alcoholic drinks industry majorly due to transportation, production, demand and supply related issues. However, the market is expected to recover at a faster pace owing to people shifting towards non-alcoholic drinks due to rising health concerns with alcoholic beverages”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global Non-Alcoholic Drinks Marke By Product Type (Carbonated Soft drinks, Functional/Energy & Sports Drinks, Fruit Juices & Flavoured Drinks, Bottled Water and Others (Dairy-based Drinks, Tea & Coffee, Sodas, etc.)), By Distribution Channel (Supermarkets/Hypermarkets, Convenience Stores, Departmental Store, online, Others (Grocery Stores, Independence store, etc.)), By Region, Competition Forecast & Opportunities, 2016 – 2026F”, has evaluated the future growth potential of the non-alcoholic drinks market globally and provides statistics and information on market structure, size, share, and future growth. The report is intended to provide cutting-edge market intelligence and help decision makers take a sound investment decision. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities present in the global non-alcoholic drinks market.
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