Non-Alcoholic RTD Beverages Market Size,Growth, Analysis, and Forecast To 2027
Market Highlights
The global non-alcoholic RTD beverages market is
projected to be valued at USD 800 million by 2027, recording a CAGR
of 4.5% during the forecast period. The
growth of the non-alcoholic RTD beverages market is anticipated to be driven by
several factors during the forecast period from 2020 to 2027. One of the key
factors is the surging demand for non-alcoholic beverages among consumers.
Additionally, the rising demand for functional beverages is augmenting
the growth of the global non-alcoholic RTD beverages market. The growth of the
organized retail sector in Asia-Pacific is one of the prominent factors
supporting the growth of the global non-alcoholic RTD beverages market.However,
stringent government regulations and guidelines are expected to restrict the
growth of the global non-alcoholic RTD beverages market during the forecast
period. Adoption of growth strategies and rising demand for organic products is
anticipated to create lucrative opportunities for the global non-alcoholic
RTD beverages size.
The COVID-19 pandemic has fundamentally changed the buying behavior of
consumers.They are concerned about the impact of COVID-19, both from a health
and economic perspective. Carbonated drinks followed by functional beverages
are gaining momentum globally and are witnessing increasing demand amongst the
young population. The rising demand can be attributed to social gatherings and
increasing physical activities, mainly amongst health-conscious consumers.
Additionally, consumers prefer to buy non-alcoholic RTD beverages from online
stores as compared to supermarkets & hypermarkets. Also, the consumers
prefer non-alcoholic RTD beverages as it does not contain alcohol, provide
functional benefits, and be consumed at all hours of the day.
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Segmental Analysis
The global non-alcoholic RTD beverages market size has
been segmented based on product type, packaging type, distribution channel, and
region.
By product type, the market has been divided into
functional beverages, carbonated soft drinks, tea & coffee, fruits &
vegetable juice, bottled water, dairy-based beverages, and others. The
functional beverages are further breakdown into energy drinks, sports drinks,
and others. The bottled water segment accounted for the largest market share in
2019, whereas the tea & coffee segment is expected to record the highest
CAGR during the forecast period. The carbonated soft drinks segment accounts
for the second-largest market share of the global non-alcoholic RTD beverages
market.
Based on packaging type, the global non-alcoholic RTD beverages market has been
classified as bottles, cans and others. The bottles segment accounted for the
largest market share in 2019. Bottles are the most popular packaging solutions
among beverage manufacturers. Consumers are mainly attracted to glass bottles
as they are durable, hygienic, and aesthetically pleasing. The bottles segment
accounted for the major market share due to various factors. One of the major
factors for the rising growth of the bottles segment is their high holding
capacity. The segment is estimated to retain its dominance throughout the
forecast period of 2020-2027.
Based on distribution channel, the global non-alcoholic RTD beverages market
has been classified as store-based and non-store-based. The non-store-based
segment is projected to exhibit a higher CAGR during the forecast period. Non-store-based
distribution channels include e-commerce, where in the manufacturers distribute
non-alcoholic RTD beverages either through various online shopping sites or
their websites, where they can showcase a wide range of products. Companies
launching new products face difficulties in reaching out to consumers in
different regions through brick-and-mortar stores. Thus, there is a preference
for e-commerce channels to expedite the process.
Regional Analysis
Geographically, the global non-alcoholic RTD beverages market has been categorized as North
America,Europe, Asia-Pacific, Rest of the World. As per MRFR
analysis, Asia-Pacific constituted a dominant share of the non-alcoholic
RTD beverages market in 2019. Various non-alcoholic RTD beverages in the
Asia-Pacific region are relatively at the introductory stage. However, the
presence of a strong population that prefers healthy beverages is expected to
create lucrative opportunities in the coming years. The high millennial population
in the region prefers healthy drinks. The key manufacturers emphasize
promotional activities to create strong awareness among consumers regarding new
products, which is accelerating the growth of the North American
market. The rest of the world’snon-alcoholic RTD
beverages market is projected to register a decent CAGR of 5.37%
during the forecast period.Consumer awareness towards wellness and a strong
drop in carbonated soft drinks consumption have resulted in its growth.
Companies in these countries are targeting CSD drinkers with effective
marketing strategies off late.
Key Findings of the Study:
- The
global non-alcoholic RTD beverages market is projected to
register a growth rate of 5.33% from 2020 to 2027.
- The bottled
water segment is estimated to retain its prominent share till 2027,whereas
the tea & coffee segment is projected to record the highest CAGR
of 5.90% during the forecast period.
- The bottles
segment accounted for the largest market share in 2019 and is expected to
grow at the fastest rate of 5.42% during the forecast period.
- The
store-based segment is estimated to retain its dominant share till 2027,
where as the non-store-based segment is estimated to register a higher
growth rate during the forecast period.
NOTE: Our Team of Researchers are
Studying Covid19 and its Impact on Various Industry Verticals and wherever
required we will be considering Covid19 Footprints for Better Analysis of
Market and Industries. Cordially get in Touch for More Details.
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