Rising Health Awareness to Create Growth Opportunities for Global Non-Alcoholic Drinks Market, says TMR
Transparency Market Research has announced the release of a new research report on the global non-alcoholic drinks market. As per the report, the market stood at US$1,435.25 bn in 2013 and is predicted to reach US$1,937.73 bn by 2020, progressing at a 4.30% CAGR from 2014 to 2020. The report, titled ‘Non-Alcoholic Drinks Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 – 2020,’ states that by volume, the market will progress from 912.77 billion liters in 2013 to 1,289.03 billion liters by 2020, exhibiting a steady CAGR of 4.90% from 2014 to 2020. Factors such as the growing awareness among people about healthy living, changing consumer preferences, and the rising disposable income are responsible for the steady growth of the global non-alcoholic drinks market, state the report’s authors.
Non-alcoholic beverages contain a minimal percentage of alcohol – usually less than 0.5% by volume. Non-alcoholic drinks comprise juices, soft drinks, ready-to-drink coffee, tea, energy drinks, bottled water, and even beer. The healthy eating trend has inspired many people to shift their preferences from alcoholic drinks to non-alcoholic beverages. The global non-alcoholic drinks market has seen a changing trend in the recent past with the introduction of organic drinks, energy drinks, and sports drinks. Soft drinks comprised the leading product segment in 2013 valued at 471.07 billion liters. However, the tea and coffee segment is projected to exhibit a 7.0% CAGR from 2014 to 2020 to be the fastest growing segment.
Rapid industrialization and the changing trends in the global beverages market have propelled the global market for non-alcoholic drinks. Leading players are concentrating on introducing new non-alcoholic drinks to match the changing tastes of consumers.
For a detailed study, analysts have segmented the global non-alcoholic drinks market on the basis of product and region. Based on region, the market is divided into North America, Europe, Asia Pacific, and Rest of the World. Currently, the global market is led by North America, followed by Asia Pacific. In 2013, the North America non-alcoholic drinks market stood at US$220.79 bn. Rapid urbanization is the primary factor responsible for the growth of the North America non-alcoholic drinks market. Obesity is a growing concern in North America due to excess consumption of artificially sweetened beverages. Several manufacturers of non-alcoholic and low-sugar drinks are introducing new products to cater to the changing needs of customers.
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However, with changing lifestyles in economies such as China, Singapore, and India, Asia Pacific is projected to be the most lucrative market by 2020. In 2013, the Asia Pacific non-alcoholic drinks market stood at US$332.22 bn and is projected to exhibit a steady CAGR of 6.80% from 2014 to 2020. Rest of the World is predicted to experience promising growth opportunities in the near future.
The global non-alcoholic drinks market is dominated by a few leading companies. Some of the key companies operating in the market are A.G. Barr, plc., Nestle S.A. (Switzerland), Dr. Pepper Snapple Group Inc., Calcol Inc., PepsiCo Inc., Dydo Drinco, Inc., The Coca-Cola Company, Attitude Drinks, Inc., and Danone.
Key Segments of Global Non-Alcoholic Drinks Market
Non-Alcoholic Drinks Market, by Product
Tea and Coffee
Non-Alcoholic Drinks Market, by Geography:
Rest of the World