Non-Alcoholic Beverage Market To Grow Enormously with Size Worth $1.60 Trillion By 2025 |Grand View Research, Inc.
The global non-alcoholic beverage market size
is expected to reach USD 1.60 trillion
by 2025, expanding at a CAGR of 5.8%, according to a new report by Grand
View Research, Inc. Rising societal awareness toward serious health problems is
acting as the biggest driver for market. The industry is reshaping itself by
changing the orientation from carbonated soft drinks to non-nutritive
low-calorie beverages.
Various studies and research have proved that obesity is
linked to higher consumption of CSDs. This has led to the development of
calorie-free or low-calorie drinks, such as functional beverages, bottled
water, and fruit beverages. Childhood obesity rate for the age groups of 2-5
and 12-19, has doubled in past 30 years in the U.S. The government is also
trying to reduce the sales and consumption of drinks made from nutritive
sweeteners by imposing sugar taxes.
Stringent government regulations for labeling, listing the
ingredients used, etc. in developed countries are expected to restrain the
market growth. On the other hand, initiatives to attract the global players by
increasing foreign investments, trade promotion, and economic subsidies in the
developing economies are expected to foster the industry growth.
New product launches, as a result of the product line
extension, have enabled customers to select application-specific offerings from
a wide variety of options. The widening distribution channels have led to easy
product availability, which has been a key industry driver in the past.
Marketing and advertising plays the most important role in organizational sales
and sustainability. Trade promotion, advertising, sales promotion, and public
relations are the main promotional activities employed by the key players.
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Further
Key Findings from The Report Suggest:
·
The global non-alcoholic beverage market
was valued at USD 967.3 billion in 2016. The market is projected to grow at an
estimated CAGR of 5.8% over the forecast period.
·
Carbonated soft drinks occupied the highest
market share in 2016 owing to its high market penetration
·
North America accounted for the largest
market for non-alcoholic beverage industry in 2016 owing to the presence of
developed economy and high standard of living
·
Functional beverages are expected to emerge
as the fastest growing product segment in the market on account of high demand
for ready to drink coffee and tea, relaxation drinks, and energy drinks
·
The key players include PepsiCo, Inc., The
Kraft Heinz Company, Dr. Pepper Snapple Group, Inc., The Coca-Cola Company, and
Nestle S.A.
The functional beverage is expected to
emerge as the fastest growing product segment over the forecast period. The
growth is attributed to the rise of smart consumers that are more value
oriented and concerned toward health. Key companies have well-established
marketing intelligence department responsible for capturing the experience of
valuable and critical customers at each point of customer encounter with
company’s products and services. Most of the companies have also started the
development of their good-for-you healthy and functional beverage line by
shifting from nutritive sweeteners to non-nutritive sweeteners.
The carbonated soft drink emerged as the
most prominent product segment within this industry in 2016 and represented
over one-third of the global demand. Change in consumer preference owing to an
increase in awareness toward healthy and green products is pushing the industry
toward developing herbal products. Manufacturers are focusing on developing
beverages made from plant-based protein such as grain, soy, almond to cater the
demanding customers.
Browse Press
Release of this report:
Growth in smart consumers who are more
health conscious and value-oriented is pushing the industry toward changing the
focus from carbonated soft drinks to functional beverages. Fruit beverages segment
is the second-largest segment owing to unique healthy properties and
substitutes to carbonated soft drinks. Bottled water is projected to witness
the second-fastest growth rate due to the rising awareness of the quality of
tap water.
About Grand View Research
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, we offer market intelligence studies
ensuring relevant and fact-based research across a range of industries, from
technology to chemicals, materials and healthcare.
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