Sellbyville, DE -- (SBWire) -- 05/08/2019 --Non-Alcoholic Wine and Beer Market is estimated to surpass USD 25 billion by 2024; according to a new research report. Health focused lifestyle along with product and flavor innovations will primarily drive the non-alcoholic wine and beer market. Need to maintain a social status among non-drinkers coupled with changing consumer taste preferences will supplement the product landscape. Increasing penetration of religious beliefs among younger population segment will enhance the product adoption rate.
Shifting consumer preferences towards healthier alternatives is among the key factor propelling the non-alcoholic wine and beer market size. Factors such as religious restrictions, rising consumer spending across developing countries along with favorable government policies will support the industry growth. Proliferating customers preference towards new products offering distinct taste will enhance the industry revenue.
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Alcohol free accounts for a significant share in the global non-alcoholic wine and beer market. Factors such as liquor ban and increasing product availability are proliferating the product demand particularly in MEA and Asia Pacific. Increasing penetration of religious beliefs among young age Muslim population accompanied by enhanced flavor offerings by manufacturers will drive the non-alcoholic wine and beer industry demand.
Improvement in foothold of renowned brands with extension in the product portfolio will fuel the non-alcoholic wine and beer market growth. Expanding distribution network accompanied with segment specific marketing strategies will boost the product adoption over the forecast timeframe. Increasing health awareness among people particularly with social medial usage will positively influence the product penetration. Industry players are offering products with reduced taste difference between non-alcoholic wine and beer and its alcoholic counterpart further supporting the business growth.
Dealcoholization technology mainly reverse osmosis, heat treatment, vacuum distillation together accounted for over 80% of the non-alcoholic wine and beer market share in 2017. fAlcohol content flexibility to produce both alcohol free and low alcohol product along with relative less complexity is primarily driving the technology usage. Reverse osmosis is widely used owing to lower loss of aroma compounds, thus producing a strong and natural flavor.
Non-alcoholic wine and beer market through restaurants and bars is expected to value over USD 6 billion by 2024. Busy lifestyle and urbanization inculcating the habit of eating out are among the key factors driving the product demand particularly in developing economies. Increased socializing and rising consumer spending will support the market demand through this sales channel.
Europe non-alcoholic wine and beer market accounted for over USD 3.5 billion in 2017 and is expected to grow at a substantial rate owing changing consumption pattern towards healthier alternatives and relatively lower product retail price. Increasing product availability and expanding distribution network in the region will fuel the product demand in the region. Increasing competition in the region owing to entry of globally renowned brands in the non-alcoholic wine and beer segment is augmenting the product adoption in the region. For instance, Heineken launched its non-alcoholic beer Heineken 0.0 in 2017 which helped the company to gain a significant market share in the European market.
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Global non-alcoholic beer and wine market share is moderately fragmented with presence of multinational and regional manufacturers. Few notable industry players are Heineken N.V., Anheuser-Busch InBev, Carlsberg, Suntory Brewery Company, Erdinger Weibbrau, and J. Lohr Vineyards & Wines. Other prominent industry participants include Coors Brewing Company, Kirin, Moscow Brewery Company, Weihenstephan, Arpanoosh, Behnoush Iran, Pierre Chavin, and S. Martinelli & Company.
Non-Alcoholic Wine and Beer Market Will Grow at 7.6% CAGR to Cross US$ 25 Billion by 2024
Europe to emerge as strong regional contender. The region is among the major consumers of alcoholic & non-alcoholic wine and beer across the globe.