As of 2024, the global market for Non-alcoholic Beverages is valued at approximately US$ 987.3 billion and is anticipated to grow at a compound annual growth rate (CAGR) of 6.7% over the ensuing decade (2024 to 2034). A study conducted by Fact.MR, a provider of market research and competitive intelligence, suggests that the consumption of non-alcoholic beverages in East Asia and South Asia & Oceania combined is poised to contribute significantly to the overall global sales throughout the study period.
The increasing prevalence of chronic diseases worldwide has prompted individuals to prioritize their health and fitness, creating a favorable landscape for the prospective growth of non-alcoholic beverage sales. Moreover, rising concerns related to alcohol consumption, the surging popularity of functional beverages, a heightened demand for clean label ingredients in beverages, and a growing emphasis on addressing hydration represent additional factors that are expected to drive the demand for non-alcoholic beverages on a global scale through the year 2034.
Major Components of Research Report on the Non-alcoholic Beverage Industry Companies in the non-alcoholic beverage sector are directing their efforts towards introducing innovative beverages with distinctive flavors to distinguish themselves in the fiercely competitive market.
In January 2022, Corona, a prominent beer brand, unveiled the introduction of its latest non-alcoholic beer, Corona Sunbrew 0.0%. This beverage was crafted by eliminating the alcohol content from Corona Extra and blending it with natural flavors and vitamin D.
Key Takeaways from Market Study
- The global non-alcoholic beverage market is set to reach a valuation of US$ 987.3 billion in 2024.
- Sales of non-alcoholic beverages are forecasted to reach US$ 1,889.42 billion by 2034-end.
- Worldwide Demand for non-alcoholic beverages is predicted to increase at a CAGR of 6.7% from 2024 to 2034.
- Increasing vegan population, rising clean label trend, growing adoption of plant-based diets, increasing awareness regarding the ill effects of alcohol consumption, and evolving consumer preferences are key market drivers.
- Fluctuations in the pricing and availability of natural ingredients to make non-alcoholic beverages are expected to impede market growth to some extent.
- Demand for non-alcoholic beverages in East Asia is forecasted to increase at 7.3% CAGR from 2024 to 2034.
- Sales of non-alcoholic beverages in Japan are forecasted to rise at a 7.6% CAGR over the next 10 years.
- Around 33.1% of overall non-alcoholic beverage sales are projected to come from hypermarkets and supermarkets by 2034.
- Sales of fruit beverages are predicted to increase at 7.1% CAGR from 2024 to 2034.
“Non-alcoholic beverage manufacturers should capitalize on the growing popularity of veganism and clean label trends to maximize their sales growth going forward,” says a Fact.MR analyst
Winning Strategy
Established as well as incoming non-alcoholic beverage companies should focus on creating beverages with unique flavors to attract new consumers. Non-alcoholic beverage suppliers should also devise innovative marketing strategies to move their inventory and differentiate their products from the masses.
Competitive Analysis
Prominent brands in the non-alcoholic beverage industry are directing their efforts towards introducing novel beverages with innovative flavor profiles to captivate consumers and enhance sales opportunities.
- In October 2023, Lewis Hamilton, a seven-time Formula 1 world champion, joined forces with Ivan Saldana to unveil the world’s inaugural and exclusive non-alcoholic spirit drink crafted from authentic blue agave. Almave, the non-alcoholic beverage, follows the same production process as tequila, excluding the fermentation stage, setting it apart in the market.
Key Companies Profiled
- PepsiCo Inc.
- Refresco Group NV
- Tata Global Beverages Ltd.
- The Coca-Cola Co.
- Embotelladora Andina SA
- Arca Continental SAB de CV
- Uni-President China Holdings Ltd.
- Monster Beverage Corp
- Dr. Pepper Snapple Group, Inc.
- Kagome Co. Ltd.
- Britvic Plc
- ITO EN Ltd.
- Lassonde Industries Inc.
- Fraser & Neave Holdings Bhd.
- Lotte Chilsung Beverage Co. Ltd.
- Suntory Beverage & Food Ltd.
- Fomento Economico Mexicano Sab de CV
- DyDO Group Holdings Inc.
- Massimo Zanetti Beverage Group SpA
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global non-alcoholic beverage market, presenting historical demand data for 2018 to 2023 and forecast statistics for 2024 to 2034.
The study divulges essential insights on the market based on product type (carbonated soft drinks, RTD coffee & tea, bottled water, fruit beverages), source (fruits, vegetables, cereals, tea, coffee, milk, cocoa/chocolate, nuts, plant extracts/herbal extracts, water, floral extracts, others), packaging (bottles, metal cans, liquid cartons, pouches, tetra packs, sachets, takeaway cups & tumblers, plastic containers, others), and sales channel (supermarkets/hypermarkets, food services sector, convenience stores, online retailing), across six major regions of the world (North America, Europe, Latin America, East Asia, South Asia & Oceania, and the Middle East & Africa).
