The beverage industry is undergoing a non-alcoholic revolution as more and more Americans are cutting down their alcohol consumption. According to the International Wines and Spirits Record (IWSR) analysis, global alcohol consumption drastically declined in 2020 while the low- and the non-alcohol market continues to grow, with consumption anticipated to increase 31% in volume 2024.
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,