Global Non-Alcoholic Drinks Market to Be Valued Over USD1.28 Trillion by 2026
Inclination
towards the consumption of functional drinks is a major factor propelling the
global non-alcoholic drinks market.
According to TechSci Research report, “Global Non-Alcoholic
Drinks Market
By Product Type (Carbonated Soft drinks, Functional/Energy & Sports Drinks,
Fruit Juices & Flavoured Drinks, Bottled Water and Others (Dairy-based
Drinks, Tea & Coffee, Sodas, etc.)), By Distribution Channel (Supermarkets/Hypermarkets,
Convenience Stores, Departmental Store, online, Others (Grocery Stores,
Independence store, etc.)), By Region, By Country, Competition Forecast &
Opportunities, 2016–2026F”, the global non-alcoholic drinks market
size valued at USD927.50 billion in 2020 and is projected to grow at a CAGR of
over 5.72% during forecast period to reach around USD1.28 trillion by 2026.
Consumers nowadays are more focused on adapting a healthy lifestyle, due to
which there is a rise in demand for sports drinks, energy drinks and fruit
juices, which in turn is driving the growth of the global non-alcoholic drinks
market. The relaxation in trade duties and tariff barriers in the overseas
market have further encouraged the manufacturers to boost the production of
non-alcoholic drinks worldwide. An increasing
population and rising disposable income are some of the major drivers that
influence the demand for non-alcoholic drinks.
However,
high sugar content in non-alcoholic drinks, such as carbonated soft drinks
which increases the health problems such as diabetes and obesity, are some of
the challenges that hamper the growth of the global non-alcoholic drinks market.
To solve this issue, manufacturers are coming up with low-calorie, sugar-free
non-alcoholic drinks and fruit juices.
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The global non-alcoholic drinks market is
segmented based on product type, distribution channel, company, and region. In
terms of product type, the market is segregated into carbonated soft drinks,
functional/energy & sports drinks, fruit juices & flavored drinks,
bottled water, and others (dairy-based drinks, tea & coffee, sodas, etc), out
of which carbonated soft drinks captured the majority market share with more
than 30% market share in 2020, as carbonated drinks are the most popular drinks
in the market because of their taste and refreshment. However, functional/energy
& sports drinks are growing at a much faster pace in the market with a
projected CAGR of over 6.00% in the forecast period, due to continuous shifting
of consumer preferences towards healthier alternatives of non-alcoholic drinks.
In terms of distribution channel, the market is segregated into
supermarkets/hypermarket, departmental store, convenience stores/forecourt
retailers, and online, out of which, supermarket and hypermarket is the largest
distribution channel of the non-alcoholic drinks with around 30% of the market
share in 2020. This is because, supermarkets and hypermarkets help the customers
to discover a wide range of products under a single roof. However, in the coming
years, online stores are projected to remain the fastest growing distribution
channels with a CAGR of 8.00% over the forecast period.
Region wise, North America is the dominating region in the global
non-alcoholic drinks market, holding around 35.00% of the global market share
in 2020. The Coca-Cola Company and PepsiCo, Inc., are the largest non-alcoholic
drink companies from the USA that hold maximum market share in the global
non-alcoholic drinks market. USA and Mexico have the leading carbonated soda drinks
consumption market in the world because of which people are suffering from
blood sugar, obesity, and dental problems. To overcome this problem, the
government has put up a soda tax and it is believed that it will cut down the
sales of these aerated drinks.
Countries such as USA, Canada and Mexico, China,
India, Saudi Arabia, UAE, Germany, Italy, Brazil, and Argentina, etc., have high
per capita consumption of non-alcoholic drinks, combined with the development
of food processing industries which drives the global non-alcoholic drinks industry.
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“The COVID-19 impacted the global non-alcoholic
drinks industry majorly due to transportation, production, demand and supply related
issues. However, the market is expected to recover at a faster pace owing to
people shifting towards non-alcoholic drinks due to rising health concerns with
alcoholic beverages”, said Mr. Karan Chechi, Research Director with TechSci
Research, a research based global management consulting firm.
“Global Non-Alcoholic Drinks Marke By Product
Type (Carbonated Soft drinks, Functional/Energy & Sports Drinks, Fruit
Juices & Flavoured Drinks, Bottled Water and Others (Dairy-based Drinks,
Tea & Coffee, Sodas, etc.)), By Distribution Channel
(Supermarkets/Hypermarkets, Convenience Stores, Departmental Store, online,
Others (Grocery Stores, Independence store, etc.)), By Region, Competition
Forecast & Opportunities, 2016 – 2026F”, has evaluated the future growth
potential of the non-alcoholic drinks market globally and provides statistics
and information on market structure, size, share, and future growth. The report
is intended to provide cutting-edge market intelligence and help decision
makers take a sound investment decision. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities present in the global non-alcoholic drinks market.
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