Non-alcoholic Beverage Market to Attain US$ 1,889.42 Billion at 6.7% CAGR by 2034: Fact.MR Study
Rockville , Dec. 11, 2023 (GLOBE NEWSWIRE) -- The global Non-alcoholic Beverage Market is estimated at US$ 987.3 billion in 2024 and is projected to expand at 6.7% CAGR over the next 10 years (2024 to 2034). Non-alcoholic beverage consumption in East Asia and South Asia & Oceania, collectively, is projected to account for a significant chunk of global sales across the study period, suggests a study by Fact.MR, a market research and competitive intelligence provider.
Rising prevalence of chronic diseases has pushed people to focus on their health and fitness around the world, which is projected to favor non-alcoholic beverage sales in the future. Increasing concerns regarding alcohol consumption, rising popularity of functional beverages, high demand for clean label ingredients in beverages, and growing focus on addressing hydration are other prospects that can bolster demand for non-alcoholic beverages on a global level through 2034.
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Key Segments of Non-alcoholic Beverage Industry Research Report
| By Product Type | By Source | By Packaging | By Sales Channel |
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Non-alcoholic beverage companies are focusing on launching new beverages with unique flavors to stand out in the highly competitive marketplace.
- In January 2022, Corona, a leading beer brand, announced the launch of its new non-alcoholic beer called Corona Sunbrew 0.0%. The beverage was developed from Corona Extra by removing its alcohol content and then blending it with natural flavors and vitamin D.
Key Takeaways from Market Study
- The global non-alcoholic beverage market is set to reach a valuation of US$ 987.3 billion in 2024.
- Sales of non-alcoholic beverages are forecasted to reach US$ 1,889.42 billion by 2034-end.
- Worldwide Demand for non-alcoholic beverages is predicted to increase at a CAGR of 6.7% from 2024 to 2034.
- Increasing vegan population, rising clean label trend, growing adoption of plant-based diets, increasing awareness regarding the ill effects of alcohol consumption, and evolving consumer preferences are key market drivers.
- Fluctuations in the pricing and availability of natural ingredients to make non-alcoholic beverages are expected to impede market growth to some extent.
- Demand for non-alcoholic beverages in East Asia is forecasted to increase at 7.3% CAGR from 2024 to 2034.
- Sales of non-alcoholic beverages in Japan are forecasted to rise at a 7.6% CAGR over the next 10 years.
- Around 33.1% of overall non-alcoholic beverage sales are projected to come from hypermarkets and supermarkets by 2034.
- Sales of fruit beverages are predicted to increase at 7.1% CAGR from 2024 to 2034.
“Non-alcoholic beverage manufacturers should capitalize on the growing popularity of veganism and clean label trends to maximize their sales growth going forward,” says a Fact.MR analyst
Winning Strategy
Established as well as incoming non-alcoholic beverage companies should focus on creating beverages with unique flavors to attract new consumers. Non-alcoholic beverage suppliers should also devise innovative marketing strategies to move their inventory and differentiate their products from the masses.
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| Report Attribute | Details |
| Value Projection (2034) | USD 1,889.42 Billion |
| Growth Rate (2024-2034) | 6.7% CAGR |
| No. of pages | 170 Pages |
| No. of Tables | 80 Tables |
| No. of Figures | 219 Figures |
Competitive Analysis
Prominent brands in the non-alcoholic beverage industry are directing their efforts towards introducing novel beverages with innovative flavor profiles to captivate consumers and enhance sales opportunities.
- In October 2023, Lewis Hamilton, a seven-time Formula 1 world champion, joined forces with Ivan Saldana to unveil the world's inaugural and exclusive non-alcoholic spirit drink crafted from authentic blue agave. Almave, the non-alcoholic beverage, follows the same production process as tequila, excluding the fermentation stage, setting it apart in the market.
Key Companies Profiled
- PepsiCo Inc.
- Refresco Group NV
- Tata Global Beverages Ltd.
- The Coca-Cola Co.
- Embotelladora Andina SA
- Arca Continental SAB de CV
- Uni-President China Holdings Ltd.
- Monster Beverage Corp
- Dr. Pepper Snapple Group, Inc.
- Kagome Co. Ltd.
- Britvic Plc
- ITO EN Ltd.
- Lassonde Industries Inc.
- Fraser & Neave Holdings Bhd.
- Lotte Chilsung Beverage Co. Ltd.
- Suntory Beverage & Food Ltd.
- Fomento Economico Mexicano Sab de CV
- DyDO Group Holdings Inc.
- Massimo Zanetti Beverage Group SpA
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global non-alcoholic beverage market, presenting historical demand data for 2018 to 2023 and forecast statistics for 2024 to 2034.
The study divulges essential insights on the market based on product type (carbonated soft drinks, RTD coffee & tea, bottled water, fruit beverages), source (fruits, vegetables, cereals, tea, coffee, milk, cocoa/chocolate, nuts, plant extracts/herbal extracts, water, floral extracts, others), packaging (bottles, metal cans, liquid cartons, pouches, tetra packs, sachets, takeaway cups & tumblers, plastic containers, others), and sales channel (supermarkets/hypermarkets, food services sector, convenience stores, online retailing), across six major regions of the world (North America, Europe, Latin America, East Asia, South Asia & Oceania, and the Middle East & Africa).
Checkout More Related Studies Published by Fact.MR Research:
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3-in-1 Beverage Market: The global 3-in-1 beverage market is estimated at US$ 1.65 billion in 2022 and is predicted to expand at a CAGR of 4.2% to reach a market size of US$ 2.5 billion by the end of 2032.
Booster Beverage Market: The global booster beverage market is set to enjoy a valuation of US$ 129.3 billion in 2023 and further expand at a CAGR of 3.6% to reach US$ 184.1 billion by the end of 2033.
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