Top Emerging Trends Of Non-alcoholic Beverages Market Progress Forecast 2030 |Grand View Research, Inc.Posted by Mrudula Karmarkar on July 13th, 2022 The global non-alcoholic beverages market size is expected to reach USD 1,363.1 billion by 2030, expanding at a CAGR of 5.6% during the forecast period, according to a new report by Grand View Research, Inc., owing to factors such as rising disposable income, population growth, and changing lifestyles. Increasing concerns regarding obesity and health awareness are expected to trigger the growth of low-sugar carbonated drinks, tea & coffee, and bottled water. Brands globally have been innovating new products with new flavors and premium flavors in product categories, such as carbonated beverages, bottled water, and tea & coffee, which would further support the category growth. For instance, in May 2021, Danone S.A. launched the first flavored and sparkling line from its Evian bottled water brand in the U.S., available in four flavors such as Raspberry & Ginseng, Lime & Ginger, Grapefruit & Basil, and Cucumber & Mint. In terms of product, the bottled water segment is expected to be the fastest-growing segment during the forecast period. Product launches in this segment by key players in the market are likely to supplement the overall segment growth. For instance, in July 2020, Dutch-based brand Bottle Up launched its product offering in the U.K. with its pre-filled, reusable, BPA-free, and plant-based water bottles. The bottles would be available in 438 WHSmith locations across U.K., including the train station and airport locations, such as Manchester Piccadilly, Euston, Heathrow, Luton, Waterloo, Victoria, and several hospitals. The retail distribution channels held the largest share in 2021 and are expected to remain dominant during the forecast period. The rise in demand for non-alcoholic beverages or zero-alcohol drinks by the consumers has made these retailers hold a larger share of such products by different brands such as Welch, Budweiser, Busch, and Great Value, especially in supermarkets such as Aldi, Whole Foods, and Walmart. To Request Sample Copy of this report, click the link: https://www.grandviewresearch.com/industry-analysis/nonalcoholic-beverage-market/request/rs1 The non-alcoholic beverages market is consolidated in nature with the presence of a large number of international players and few regional players. Nestlé, PepsiCo, Unilever, Keurig Dr Pepper Inc., The Coca-Cola Company, Cott Corporation, Danone S.A., SUNTORY BEVERAGE & FOOD LIMITED, Asahi Group Holdings, Ltd., and Red Bull are among the prominent players in the global market. Non-Alcoholic Beverages Market Report Highlights
The industry is highly competitive, owing to many small and big players. Product differentiation is a crucial factor in this industry, which is driving research and innovation activities. Rapidly changing technology coupled with demanding customers results in pressure for product augmentation and new product development. Companies are spending heavily on research for developing new products to meet standards and regulations imposed across the regions. Product line stretching and extension has been a significant factor in achieving success in this industry. In the case of consumer goods, switching cost for the customers is meager, which means companies need to engage their customers through valued offerings with efforts to develop customer experience by creating more customer-centric organizational culture. Apart from a quality product, promotion is one of the crucial processes in improving brand recognition. Companies operating in this market are heavily spending on promotional activities, trying to create a unique brand image that provides a competitive edge over others.
Some of the key players operating in the global non-alcoholic beverages market are:
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