Non-Alcoholic Spirits Market To Grow With an Impressive CAGR During the Forecast Period
Rising health awareness is driving
the growth in Global Non-Alcoholic Spirits Market in the forecast period,
2022-2026.
According
to TechSci Research report, “Non-Alcoholic Spirits Market - Global Industry Size,
Share, Trends, Opportunity and Forecast, 2016-2026, Segmented By Product Type
(Whisky, Vodka, Rum, Gin, Others), By Sales Channel (Offline, Online), By
Region”,
the global non-alcoholic spirits market would potentially project an impressive
growth in the forecast period, 2022-2026, with an impressive CAGR on the
account of increased demand for the healthier alternative of alcoholic drinks.
Consumers often suffer drastic outcomes of excessive alcoholic consumption. To
compensate for the issue and enjoy the flavors of the drinks at the same time,
the consumers are actively demanding for non-alcoholic spirits and thus driving
the growth of the global non-alcoholic spirits market in upcoming five years. Additionally,
rising disposable income among the younger population is also supporting the
growth of the global non-alcoholic spirits market in the next five years. Also,
surging demand for the no or low ABV sector is substantiating the growth of the
global non-alcoholic spirits market in the future five years. The products are
also available in various flavors like caramel, vanilla, oak, Spice 94, fresh
& herbal, citrus, etc. are also influencing female consumer’s purchase
decision and also aiding to the growth of the global non-alcoholic spirits
market in the forecast years.
Non-alcoholic
spirits are the spirit drinks that have zero to 0.5% alcoholic content. These
drinks often come in quantity that can easily prepare 12 to 14 cocktail drinks.
Major companies are often marketing their products along with specially
assorted recipes for cocktails that is influencing the consumer’s consumption
and purchase habits. Liquid excellence, education and the drinking experience
are some of strategic recommendations that the new and existing market players
may follow for their future market performances.
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spirits Market"
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Based on product type, distribution channel,
regional analysis, and competitive landscape, the global non-alcoholic spirits
market is segmented and analyzed. The distribution channel analysis of the
global non-alcoholic spirits market is further bifurcated into offline and
online channels of distribution. Offline distribution of non-alcoholic spirits
is anticipated to hold the largest revenue shares of the market and assert its
dominance over the market in the upcoming five years on the account of easier
availability of the vast range of product line. In the local stores the branded
and non-branded products are available, and consumer have opportunity for
choosing their preferred products, thus driving the growth of the sub-segment
as well as global non-alcoholic spirits market in the next five years. Online
channels are expected to register fastest growing CAGR values in the upcoming
five years due to changing purchase habits of the consumers. Availability of
the non-alcoholic spirits on the online platform is also feasible with
governmental norms in various regions and countries and thus substantiating the
growth of the global non-alcoholic spirits market in the future five years. Expanding
e-commerce sector is also responsible for the robust growth of the global
no-alcoholic spirits market in the forecast years.
Diageo plc (Seedlip), Celtic Soul Drinks Limited, Spiritless
LLC, Drink Monday Inc., Fluère Drinks B.V, ArKay Beverages Ltd., Ritual
Beverage Company, Lyre's Spirit Co, Three Spirit Drinks Ltd, Berkshire Labels
Ltd., are some of the market players holding the major shares of the global Non-alcoholic
spirits market. Market players are actively involved in the research and
technological development in the product developments. The advanced technology
has made it possible for the industry to provide excellent services through Non-alcoholic
spirits. Further advancement would aid the market value and brand establishment
in the future five years. New market players may focus on the research and
development to provide options that satisfies the consumer demand as well as
benefits the market players in building their brand value. Other competitive
strategies include mergers & acquisitions and new product developments.
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“Europe & CIS region is anticipated
to hold the largest revenue shares of the market and dominate the regional
analysis of the market on the account of Germany being the largest market for
the non-alcoholic spirits market in the upcoming five years. Due to reliance of
the no-and-low beer segment in the on-trade the market in the country is ever
expanding. North America region is anticipated to register significant growth
in the future five years. United States cordially accounts as the second
largest market for the non-alcoholic spirits. New market players are advised to
focus on the advancing technologies and innovative product launches such that
their brand establishment can be affirmed,” said Mr. Karan Chechi, Research
Director with TechSci Research, a research based Global management consulting
firm.
“Global Non-Alcoholic
Spirits Market - Global Industry Size, Share, Trends, Opportunity and Forecast,
2016-2026, Segmented By Product Type (Whisky, Vodka, Rum, Gin, Others), By
Sales Channel (Offline, Online), By Region”, has evaluated the future
growth potential of global non-alcoholic spirits and provides statistics &
information on market size, structure and future market growth. The report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in global non-alcoholic spirits market.
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