The global non-alcoholic drink market size is estimated to reach USD 1.6 trillion, by 2025, and is projected to grow at a CAGR of 5.3% from 2019 to 2025, according to a new report by Million Insights. The increase in demand for non-alcoholic drinks has contributed to harmful effects of alcoholic drinks. Moreover, the growing demand for the nutritional beverages is expected to boost the market growth in the next few years.
Functional drinks segment is projected to grow at a CAGR of over 6.0% over the forecast period. The shifting diet patterns especially among younger adults owing to its health benefits is expected to boost the demand for non-alcoholic beverages. Moreover, these drinks are enriched with calcium and other vital nutrients that help to improve bones strength, and gut health.
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In 2018, the North American dominated the market with a share of over 34.0% in the overall market. The companies are also focusing on strategic initiatives such as acquisitions, and product launches to meet the changing consumer demands. These new products include less sugar, low calorie, and natural elements. All these factors are expected to boost non-alcoholic drinks market growth.
For instance, in 2019, the Coca-Cola company introduced different cocktails under sparkling drinks in the U.S. market. These products come with flavors such as Sangria, Bellini Spritz, and Ginger Mule. The company has launched these products as an option for alcoholic drinks.
Major players include PepsiCo, Inc.; Nestle S.A.; The Coca-Cola Company; Starbucks Corporation; Danone S.A.; Parle Agro and Unilever.
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Further key findings from the report suggest:
• In 2018, soft drinks segment attributed to the highest market share of over 24.3% in the overall market.
• Based on the distribution channel, online channel is projected to grow at the CAGR of 5.6% over the forecast period.
• North America region constituted for market share of more than 34.0% in the year 2018.
Million Insights has segmented the global non alcoholic drink market based on product, distribution channel, and region:
Non-alcoholic Drinks Product Outlook (Revenue, USD Billion, 2015 – 2025)
• Soft Drinks
• Bottled Water
• Tea & Coffee
• Dairy Drinks
• Functional Drinks
Non-alcoholic Drinks Distribution Channel Outlook (Revenue, USD Billion, 2015 – 2025)
Non-alcoholic Drinks Regional Outlook (Revenue, USD Billion, 2015 – 2025)
• North America
• Asia Pacific
• Central & South America
• Middle East & Africa
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