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Octomber 04, 2021, New York, USA - Non-Alcoholic Beverage: Introduction
Non-alcoholic beverages, also known as virgin drinks, are non-intoxicating drinks that do not contain alcohol as yeast is not introduced to convert sugar into alcohol during the process of fermentation.
They have been packaged aseptically and sold in bottled or canned forms, such as water aerated, juices, mineral water, squashes and syrups, and so on. Non-alcoholic beverages are classified within the U.S. as a beverage that has less than 0.5% alcohol in volume.
Different types of non-alcoholic drinks are readily available in the present. Tea, coffee, fermentedand non-fermented milk, fruit and vegetable beverages, herbal juices like parsley, holy basil, Aloe vera, mint, purslane, rosemary, cilantro, tarragon, dill, etc., juicesfrom oil seeds like coconut, sesame seed, badam, carbonated beverages, etc.
The Global Non-Alcoholic Beverage Market Forecast and Overview:
The market for non-alcoholic beverages is expected to grow to the value of US$ 1.60 trillion at the end of 2026, growing at a rate of approximately 6% in between 2021 to 2026.
The market for non-alcoholic beverages is experiencing the severe effect of COVID-19. It incorporates different safety standards measurement, quality inspections with an intention to improve consumer confidence. These efforts have led to increased selling of products that offer beneficial benefits such as immune health. These will likely affect the market positively. The demand for high sugar carbonated drinks has decreased in both the off-trade and on-trade channels.
This epidemic changed the size of packaging in 2020. Consumers opt for larger sizes of packs and multipacks because they're more cost-effective and lessen the need for more frequent visits to the supermarket. There is a huge demand for functional drinks to enhance health, and without altering the flavour of the beverages is driving the non-alcoholic beverage market.
The increasing accessibility and restrictions on non-alcoholic drinks worldwide are some of the main factors that are increasing the popularity of these drinks, which leads to a rise in consumption. In addition, the growing awareness of health and the demand for products that promote nutrition have impacted the market for carbonated drinks in a significant way.
Market Trend and Dynamics of the Global Non-Alcoholic Beverage Market:
Online Sales Supplementing the Market Growth:
With the growing amount of people with busy schedules and lives, online shopping has become an easy method for shopping as well as buying non-alcoholic drinks and other food products. The trend of shopping online is increasing in popularity because it makes sense for customers to purchase alcohol-free beverages on the internet and save the time of travel while avoiding the crowds at the shops. The online store has become an easy marketplace that provides an array of non-alcoholic drinks.
The rapid expansion of e-commerce has provided new opportunities for these companies. A few of the most popular sales channels on the internet, like Amazon, has reportedly witnessed an increase in the selling of functional beverages because of attractive deals and discounts provided by these sales channels with the effective delivery systems that are in place.
Increasing Consumption of Non-Alcoholic Beverages in Asia-Pacific:
It is believed that the Asia-Pacific drinks and food industry is expanding at the fastest possible rate and is far ahead of the developed regions such as Western Europe and North America. It has a substantial and growing middle-class society, which suggests the potential for growth, particularly in the iced/RTD coffee drink segment.
While the market is expanding across all countries in Asia-Pacific however, the rapid growth rate in this region is due to the rapid development of Chinese as well as Indian markets. Carbonated beverages are set to rise due to the largest portion of the category of non-alcoholic drinks. However, the consumption of soft drinks and carbonated drinks is expected to decrease due to sugar content and the preference for healthier options, including 100% natural juices in the study region.
The Key Market Segmentation of the Global Non-Alcoholic Beverage Market:
Global Non-Alcoholic Beverage Market can be divided into Product Types, Distribution channels, and Geographical landscapes, etc.
Non-Alcoholic Beverage Market Segmentation By Product Type:
Non-Alcoholic Beverage Market Segmentation By Distribution Channel:
Non-Alcoholic Beverage Market Segmentation By Geographical Landscape:
Major Key Players in the Global Non-Alcoholic Beverage Market Are:
The market is extremely competitive because of a huge number of companies that are involved in the production of functional drinks. Some of the biggest companies in the market include PepsiCo Inc., the Coca-Cola Company, Danone S.A. as well as Nestle S.A., offering various functional and carbonated drinks.
Expanding their operations and new agreements and partnerships are among the most popular strategies used by the non-alcoholic drinks industry worldwide. The major players also sign new agreements and alliances with local companies in order to expand their reach within the local market and to introduce new products in line with consumer's changing tastes.
The Covid-19 Impact Analysis:
The non-alcoholic beverage market is experiencing a dramatic decline in the consumption and sales of soft drinks because of the spread of COVID-19 across the globe. Based on the World Trade Organization, the global trade environment all over the world will be affected by approximately 15-30% over a specific time. The effect will be disruptions to supply in the market.
In addition, the cancellation of important sporting events such as events like the Cricket World Cup 2020, Indian Premier League (IPL) 2020, Summer Olympics, and other major events will also hinder the growth of the market in the coming year.
The Global Non-Alcoholic Beverage Market Report Highlights:
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