Global Non-Alcoholic Beverages Market Analysis is projected to grow with a significant growth rate of 4.61% from 2019 to 2024 and reach a market value of USD 1073.9 billion by the end of 2024. Company’s strategies inclined to launch of new non-alcoholic beverage products is also encouraging the growth of the market. Prevailing trends observed during the analysis include innovations in food and beverage processing techniques and technology advancements and consumer’s preference towards healthy drinks. Despite demonstrating the huge growth potential, the non-alcoholic beverages segment, as a category faces a lot of challenges. The predominant one is the stomach-churning combination of a high level of caffeine and a load of sugar in one handy can, Energy drinks are said to have encouraging obesity and aggressive behaviour. Besides, some non-alcoholic drinks like Coke or Pepsi, loaded with huge amounts of pesticides are addictive.
The emphasis on traditions and innovation in non-alcoholic beverages are the key driving forces encouraging the sales across the segments in the market supporting the market growth. Sixty-two percent of Millennial also avoid specific products over concerns regarding environmental impact. Boomers, on the other hand, choose based on value and price. Millennials look for value, but they also rate health factors such as low carb, calories, vitamin-fortified and organic as very important. The market has recently shifted to accommodate the trend towards non-alcoholic beverages, with some major beer brands offering non-alcoholic alternatives.
Prominent players in the Non-Alcoholic Beverages Market Analysis include Fuze Beverage (US), PepsiCo (US), Coca-Cola (US), Kraft Foods (US), Nestlé (Switzerland), Kraft Foods (US), Campbell Soup Company (US), and Ocean Spray (US).