Global non-alcoholic drinks market set to grow from $820B in 2020 to $2.1T by 2030, with a CAGR of 6.8%. Online retail and health trends are key drivers.
— Allied Market Research
WILMINGTON,NEW CASTLE, DELAWARE, UNITED STATES, July 30, 2024 /EINPresswire.com/ — Allied Market Research recently published a report, titled, “Non-alcoholic Drinks Market by Product Type (Soft Drinks, Premium Water, Tea & Coffee, Juice, Dairy Drinks, and Others), Distribution Channel Supermarket/Hypermarket, Convenience Stores, Specialty Stores, Online Retails, and Others), and Price Point (Standard, Premium, and Luxury): Global Opportunity Analysis and Industry Forecast, 2022–2031”. As per the report, the global non-alcoholic drinks industry accounted for $820.0 billion in 2020, and is expected to reach $2,134.6 billion by 2030, growing at a CAGR of 6.8% from 2022 to 2031.
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Rise in urbanization, increased disposable income in developing countries, and surge in prevalence of diseases due to unhealthy lifestyle have boosted the growth of the global non-alcoholic drinks market. However, stringent government regulations associated with sugary drinks, preservatives, and additives hinder the market growth. On the contrary, surge in awareness of health and wellness among millennials and consumers would open new opportunities in the future.
By product type, the soft drinks segment held the largest share in 2020, accounting for nearly two-fifths of the global non-alcoholic drinks market, due to its wide market penetration, rise in socialization among the consumers, and innovations in the category. However, the juice segment is expected to manifest the highest CAGR of 8.1% during the forecast period, due to rise in demand for nutritional diet and drinks among consumers.
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By distribution channel, the online retails segment is projected to register the highest CAGR of 7.5% during the forecast period, due to rise in production penetration and increase in mobile users. However, the supermarket/hypermarkets segment held the largest share in 2020, contributing to nearly two-fifths of the global non-alcoholic drinks market, owing to advent of modern trades, bulk buying tendency, and rise in consumer interest over one-stop shopping places.
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By region, the global non-alcoholic drinks market across Asia-Pacific, followed by North America, held the largest share in 2020, accounting for nearly one-third of the market. Moreover, the region is expected to showcase the highest CAGR of 8.0% during the forecast period, owing to rise in demand from millennials from developing countries including Thailand, India, and Indonesia.
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Sustainability initiatives present significant opportunities for the non-alcoholic drinks market by addressing growing consumer concerns about environmental impact and promoting eco-friendly practices throughout the supply chain. Non-alcoholic beverages and alcohol-free drinks brands have the opportunity to differentiate themselves and appeal to environmentally conscious consumers by implementing sustainable sourcing, production, and packaging solutions. For example, brands source ingredients from organic and regenerative agriculture practices, reducing pesticide use and promoting soil health. In addition, adopting renewable energy sources and water-saving technologies in production facilities might minimize carbon emissions and water usage which align with sustainability goals and reduce environmental footprint.
Furthermore, sustainability initiatives in packaging offer considerable opportunities for innovation and market differentiation in the non-alcoholic drinks sector. Manufacturers explore alternative packaging materials such as biodegradable plastics, compostable materials, and plant-based packaging solutions to reduce plastic waste and environmental pollution. Moreover, lightweight packaging, optimizing packaging design, promoting recycling and circular economy principles further reduce environmental impact and enhance brand sustainability credentials. These all factors present several opportunities for the non-alcoholic drinks market.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP, based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view of providing business insights and consulting to assist its clients in making strategic business decisions and achieving sustainable growth in their respective market domain.
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