Non-Alcoholic RTD Beverages Market Share will generate new growth opportunities by 2028

 

Non-alcoholic ready-to-drink (RTD) beverages are beverages with zero alcohol levels. Rising number of teetotalers, as well as a sizeable part of the millennial demographic swearing off alcohol, has driven the demand for beverages. The global non-alcoholic RTD beverages market report by Market Research Future (MRFR) contains pertinent trends and factors pushing the niche segment into mainstream production.

Market Scope

The global non-alcoholic RTD beverages market size can touch USD 800 billion by 2024. The immense demand for versatile mocktails for consumers with a zero penchant for alcohol is expected to drive the market from 2019 to 2024 (forecast period). The sales of functional beverages that can bolster health levels can bode well for the market.

Emphasis on health and wellness by demographics of millennials and generation Z consumers as well as a desire to avoid hangovers can bolster the market demand. In addition, the effects of alcoholism, as well as forty-something adults cutting down on alcohol, is predicted to push the market to generate revenues at 4.5% CAGR during the forecast period. The shift to plant-based juices and veganism can tilt favorably towards the global non-alcoholic RTD beverages market.

However, volatile prices of fruits and vegetables can hamper market growth.

Segmentation

The global non-alcoholic RTD beverages market share is segmented by type, packaging type, and distribution channel.

By type, the global market has been classified as flavored and fortified water, carbonated soft drinks, dairy-based beverages, tea and coffee, functional beverages, fruit and vegetable juices, and others. The functional beverages segment has further been segmented into probiotic and prebiotic drinks, sports/energy drinks, and others. The carbonated soft drinks segment is touted to dominate the global market during the review period due to its large consumption rate among the current demographic. However, the fruit and vegetable juices segment is expected to register the highest CAGR during the forecast period.

Cans, cartons, bottles, and others are different types of packaging formats discussed in the global non-alcoholic RTD beverages marekt report. In 2018, the bottles segment accounted for the largest revenue share of the global market. However, cans is expected to register a massive growth rate during the forecast period.

Based on distribution channel, the global non-alcoholic RTD beverages market has been categorized as store-based and non-store-based. The store-based segment is split into convenience stores, supermarkets and hypermarkets, and others. The store-based segment can be a noticable avenue for accumulating revenue for the market, while the non-store-based segment is expected to exhibit a stellar growth rate from 2019 to 2024.

Regional Analysis

The global plant based beverages market reports regions of prime importance, namely Europe, Asia Pacific (APAC), North America, and the Rest-of-the-World (RoW).

North America is projected to dominate the global market due to massive investments by players and the introduction of new brands. The U.S., particularly, is expected to contribute to the regional market due to a massive consumer base and demand for energy drinks. Opening of new distribution channels and accessibility to non-alcoholic beverages can drive the market demand.

On the other hand, the APAC region can register a massive windfall due to the wide-scale consumption of beverages, rising disposable income levels of consumers, and adopted lifestyles of consumers. Launch of new flavors has facilitated the growth of the global non-alcoholic RTD beverages market.

Competitive Outlook

PepsiCo, DRY Soda Company, The Republic of Tea, Keurig Dr Pepper Inc., Lotte Chilsung Beverage Co. Ltd, Big Easy Blends, LLC, Suntory Holdings Limited, POKKA SAPPORO Food & Beverage Ltd., Monster Energy, Yakult Honsha Co., Ltd., Starbucks Corporation, Danone S.A., Nestlé S.A., The Coca-Cola Company, and Ting Hsin International Group are commendable players working in the global non-alcoholic RTD beverages market.

Industry Update

The Molson Coors Brewing Company, a Canadian company, has decided to change its plans to gain additional profits by venturing into the non-alcoholic RTD beverages segment. It has begun its ascent by acquiring a minority stake in L.A. Libations, a startup.

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.

Contact us:

Market Research Future (part of Wantstats Research and Media Private Limited), 

99 Hudson Street,5Th Floor, New York, New York 10013, United States of America

 

Comments

Post a Comment

Popular posts from this blog

Organic Soybean Market value, Share, Size, Competition Landscape, Manufacturers Analysis and Future Opportunity Outlook – 2027

  Overview: The global organic soybean market is touted to reach a total market valuation of USD 2210.53 million by 2022. A stellar CAGR of 17.71% the organic soybean market is about to achieve during the forecast period. Market Research Future (MRFR) in their report on the organic soybean market includes soybeans high nutritional value as a significant market contributor. Furthermore, with people growing health conscious all around, healthy chemical-free products are gaining traction both as human consumables and animal feed. This is playing a crucial role in giving a head start to an organic soybean market. At the same time, apart from being a much-desired food component, personal care & cosmetic, pharmaceutical, and other sectors are also opening up a market opportunity for organic soybean.    On the flip side, price volatility of such products can always become a challenge for smooth market growth during the forecast period. Price of grains is varying much d...
Read more

North America and Europe Smart Kitchen Appliances Market Outlook, Key Trends, Demand and Forecast to 2028

The North America and Europe smart kitchen appliances market is expected to exhibit steady growth over the forecast period due to the growing consumer inclination towards the use of wireless connectivity for kitchen-based applications. This information comes from the latest research report from Market Research Future (MRFR). The MRFR report provides a comprehensive overview of the smart kitchen appliances market’s historical growth trajectory in North America and Europe, elaborating upon the major drivers and restraints affecting the market. The immediate economic environment of the smart kitchen appliances market is also studied in the report in order to provide readers with pointers as to how major macroeconomic and microeconomic factors impact the smart kitchen appliances market. The leading players operating in the North America and Europe smart kitchen appliances market are also studied in the report to provide readers with a clear picture of the competitive landscape of the marke...
Read more

Organic snacks market Size, Share, Growth Rate, Industry Analysis and Global Forecast – 2027

  Market Highlights   The demand for organic snacks is increasing rapidly all over the world due to the growing inclination of health-conscious consumers for products produced through organic farming and those free from artificial ingredients and additives. The major trends in the snacking industry include innovations in plant-based diets, grass-fed meat, and the rising consumption of edible flowers along with regular snacks produced organically. These trends are encouraging key players to include organic snacks in their product portfolios, thereby positively impacting the growth of the global organic snacks market during the forecast period.   Based on product type, the global organic snacks market has been segmented into cookies and crackers, dried fruits, puffs and chips, energy bars, meat snacks, and others. The puffs and chips segment is expected to dominate the global organic snacks market during the forecast period due to the introduction of different flavo...
Read more