Nonalcoholic drinks, also known as ‘virgin drinks’, ‘mocktails’ and ‘near beer’, refer to the beverages which comprise less than 0.5% of alcohol content by volume. Nonalcoholic drinks market encompasses a wide range of refreshment beverages, including energy drinks, juices, soft drinks, coffee & tea, bottled water, and probiotics.
The beverage industry has faced spectacular transformation in consumer preferences during a past decade. Consumers’ demand toward maintaining health and wellness and functional beverages has impact on the market. In addition, new compelling products with unique flavors and innovative packing by companies are expected to fuel the market growth. Furthermore, increase in disposable incomes in emerging economies has increased the adaption of nonalcoholic drinks. However, rise in awareness of obesity due to beverages with high-calorie sweeteners hinders the market growth. Apart from this, the introduction of tax on soft drinks has hampered the market growth.
The huge market potential for diet and zero sugar drinks is projected to be observed for nonalcoholic drinks market during the forecast period. Moreover, introduction of newly launched drinks such as super premium juices, premium hydration, probiotics/kombucha, and craft soda to meet consumers’ demand of low calories, organic, high-quality, functional, and delicious drinks is expected to be an evolving landscape for the nonalcoholic drinks market in future.
The nonalcoholic drinks market is segmented based on the product type and geography. By product type, the market can be segmented into tea & coffee, energy drinks, juices, bottled water, dairy drinks, and soft drinks. Geographically, the market is segmented into North America, Europe, Asia-Pacific, and LAMEA.
Recent advancements in the market include development of a wine alternative range by Belvoir Fruit Farms in 2016, to mimic the sensation of drinking wine but without alcohol. Similarly, in November 2016, Koia has launched 100% plant-based protein drink. Across the industry, companies are launching new products to increase their presence in the global market.
Comprehensive competitive analysis and profiles of the major market players include:
KEY MARKET BENEFITS:
KEY MARKET SEGMENT:
By Product Type
Other major players in the industry include:
*The above list of companies is not profiled in the report, and can be added based on client interest.
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