Sugar Free Beverage Market Global Research Report by Product Type (Fruit and Vegetable Juices, Soft Drinks, Energy Drinks, Dairy beverages and others), Special-Food-Type (Lactose-Free, Gluten Free, Organic and others), Distribution Channel (Non-Store Based, Store Based) and Region - Forecast to 2023
Pune, India -- (SBWIRE) -- 12/11/2018 -- Market Analysis:
Sugar-free beverages are substitutes for sugar-based beverages. These beverages are artificially sweetened using artificial sweeteners such as Stevia, Saccharin, Aspartame, Neotame and Sucralose, etc. They are often considered to be a healthier option for consumers willing to reduce sugar intake or for preventing weight gain.
Sugar-free drinks contains low calorie sugar substitutes such as stevia. The growing trend towards health and wellness propelled the demand for sugar-free beverages. The product comes in various types such as Fruit and Vegetable Juices, Soft Drinks, Energy Drinks, Dairy Beverages, and others. It also comes with a spectrum of varieties such as gluten-free, organic, and others. The growing concern regarding obesity and diabetes have led to a change in consumers' preferences. Consumers are looking to reduce their calorie intake are now more inclined towards healthy food and beverages which has given impetus to sugar-free beverages market.
Additionally, the increase in disposable income, along with a rising health consciousness of the consumers, is estimated to drive the growth of this market. The increase in cognizance of the health benefits of the sugar-free beverages is also a key driver of this market. Furthermore, the increase in demand from the developing economies due to involvement of organized sector will also provide boost to the industry's growth. These factors will support the growth of sugar-free beverage market during the forecast period 2017-2023.
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Leading Key Players Review:
With the entry of industry players in the sugar free beverages segment, a trend of solid, volume-driven growth has been observed in the market with the development of different varieties of product types. With companies aiming to capture a considerable share of the market segment as early as possible, they are competing and experimenting with various advantage points. The key players are emphasizing more in the research & development process to introduce new product, and to extend the product line. Key players are introducing new sugar free beverages to surge the volume sales and to increase the overall revenue of the company.
The key players profiled in sugar-free beverages market report are The Coca-Cola Company (U.S.), The Hershey Company (U.S.), Nestlé (Europe), Bai Brand LLC (U.S.), Unilever (U.K.), PepsiCo (U.S.), Dabur (India), and The Kraft Heinz Company (U.S.) among many others.
Latest Industry Updates:
Jun 2017 Coca Cola launched Coke No Sugar in Australia and is aiming to launch in other markets as well. The product has the same taste as original coca cola drink but do not contain sugar. Through this product launch, the company aims to capitalize on the growing demand for sugar-free beverages.
May 2017 Pepsi Co. India Holdings Pvt. Ltd introduced 'Pepsi Black' which is a zero-calorie carbonated beverage. This product launch is in line with company's policy to focus on health and nutrition product portfolio. The demand for sugar-free beverages has grown exponentially and company aims to keep up with the changing consumer's preferences.
Nov 2016 Bai Brand which is partly owned by Dr. Pepper Snapple Group Inc. introduced sugar-free sodas. The company introduced five carbonated drinks which contains stevia and erythritol sweeteners. The product line is called Black Bai and comes in flavors such as cola, root beer, and citrus.
Jun 2016 Coca Cola acquired Unilever's Ades soy based beverage. Through this acquisition, the company aims to strengthen healthy and nutritious product portfolio.
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The Global Sugar Free Beverages Market has been divided into Product Type, Claim, Distribution Channel and Region.
On The Basis Of Product Type: Fruits & Vegetable Juices, Soft Drinks, Energy Drinks, Dairy Beverages, and Others
On The Basis Of Claim: Gluten-free, Organic, Lactose-free and others
On The Basis Of Distribution Channel: Store Based, and Non Store Based
On The Basis Of Region: North America, Europe, Asia Pacific and ROW.
Sugar Free Beverage Market is segmented into Europe, North America, Asia Pacific, and Rest of the World (RoW). Among this, North American region has major market share followed by Asia Pacific. Changing consumption pattern, rising health awareness, weight reduction diet trends and rising disposable income in Asia Pacific region are anticipated to drive the demand for sugar free beverages in that particular region.