Non-Alcoholic Drinks Market - Global Industry Trends Analysis

Albany, NY -- (SBWire) -- 04/08/2019 --The global non-alcoholic drinks market stood at US$1,435.25 bn in 2013 and is projected to expand at a steady CAGR of 4.30% during the forecast period of 2014–2020. The market may reach valuation of US$1,937.73 bn by the end of 2020. The average consumption of non-alcoholic beverages is projected to rise to 1,289.03 bn liters by 2020.

Non-alcoholic drinks refer to beverages, which have less than 0.5% alcoholic content by volume. Non-alcoholic beer and wine fall under this category. Non-alcoholic beverages are also known as 'virgin drinks.' Soft drinks, juices, ready-to-drink tea and coffee, bottled water, and energy drinks are the most-consumed non-alcoholic drinks globally. Changing customer needs and introduction of new flavors and product variants are the major factors driving demand for non-alcoholic drinks.

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With large number of upcoming business utilities in power, construction and automotive sector in developing countries, the per-capita income is expected to increase over the forecast period, thereby increasing the disposable income of the regions. Increasing disposable income in emerging economies is expected to have high impact on demand for non-alcoholic drinks in the long run.

North America is the largest market for non-alcoholic drinks globally closely followed by Asia Pacific. The U.S. is one of the major markets for non-alcoholic drinks in North America. However, in recent times owing to increasing health awareness the demand for non-alcoholic drinks has decreased considerably, especially among the younger population. Due to this, non-alcoholic drinks market in North America is expected to have a stable growth throughout the forecast period. Apart from this, increasing awareness about obesity is also one of the major factors restraining the demand for non-alcoholic drinks in North America. The major manufacturers in the non-alcoholic drinks market have introduced zero-sugar and diet drinks which meet the consumers' demands of reduced calories to cater with changing consumer requirements.

Based on types global non-alcoholic drinks market is segmented into dairy drinks, shakes, tea, juice and coffee, bottled water, soft drinks, and others product wise. Among all these, soft drink stood dominate the market in 2013 with overall 471.07 bn liters consumption. While tea and coffee sector is likely to emerge as the most prominent sector in between 2014 and 2020 with 7.0% CAGR. The dominance of the regional market is attributed to the rising health awareness of populations across all age groups in the region.

Rising Disposable Incomes Boosts global non-alcoholic drinks market in developing regions

Increasing disposable incomes of consumers in developing regions is contributing to the growth of the global non-alcoholic drinks market. The growing popularity of the non-alcoholic drinks especially soft drink is catalyzing the growth of the market. Apart, inclination of the customers towards different flavors is bolstering global non-alcoholic drinks market. Also, rise in general temperature on account of global warming is favorable condition for increase demand of non-alcoholic drinks. Further, the mounting health concern among youth regarding the adverse effect of sweetener in non-alcoholic beverages is likely to hamper growth of the global non-alcoholic drinks marker. Furthermore, the increase in youth population especially in Asia Pacific region has changed the consumption pattern of the market. Due to which global non-alcoholic drinks market has seen change in the consumer patter. All these factor has boost the consumption of non-alcoholic drinks.

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Strict Government regulation pose threat to the growth of global non-alcoholic drink market

Strict Government regulation on non-alcoholic drink may dampen future prospects of the market to an extent. Owing to this, the global manufacturer are ought to follow different guidelines in the different region. It increases cost of production of the beverages. Further, high government taxes and import duty on non-alcoholic beverages in subsequently rising the selling price of the products. It in turn damping the global non-alcoholic drink market. However, with the increase buying capability of the population in hot selling region these factors can easily be overcome.