Global Non-alcoholic RTD Beverages Market
Non-alcoholic ready-to-drink (RTD) beverages are beverages with zero alcohol levels. Rising number of teetotalers, as well as a sizeable part of the millennial demographic swearing off alcohol, has driven the demand for beverages. The global non-alcoholic RTD beverages market report by Market Research Future (MRFR) contains pertinent trends and factors pushing the niche segment into mainstream production.
Market Scope
The global non-alcoholic RTD beverages market is projected to register a CAGR of 4.5% and reach a value of USD 800million by 2027. Non-alcoholic RTD beverages are ready-to-consume beverages with zero alcohol content. RTD non-alcoholic beverages are versatile, convenient, and healthy drinks. The increasing demand for ready-to-drink mixed beverages and protein beverages is driving market growth. There are various types of non-alcoholic RTD beverages, including functional beverages, carbonated soft drinks, tea coffee, fruits and vegetable juice, bottled water, and dairy-based beverages.
Emphasis on health and wellness by demographics of millennials and generation Z consumers as well as a desire to avoid hangovers can bolster the market demand. In addition, the effects of alcoholism, as well as forty-something adults cutting down on alcohol, is predicted to push the market to generate revenues at 4.5% CAGR during the forecast period. The shift to plant-based juices and veganism can tilt favorably towards the global non-alcoholic RTD beverages market.
COVID-19 Impact Analysis
The outbreak of COVID-19 has resulted in lockdown across regions, border restrictions, and breakdown of transportation networks. In addition, the economic uncertainty is much higher than past outbreaks such as the severe acute respiratory syndrome (SARS), avian flu, swine flu, bird flu, and Ebola, owing to the escalating number of infected people and the uncertainty about the end of the crisis.With the rapidly rising cases, the global non-alcoholic RTD beverages market is getting affected in many ways.
However, volatile prices of fruits and vegetables can hamper market growth.
Segmentation
The global non-alcoholic RTD beverages market is segmented by type, packaging type, and distribution channel.
By type, the global market has been classified as flavored and fortified water, carbonated soft drinks, dairy-based beverages, tea and coffee, functional beverages, fruit and vegetable juices, and others. The functional beverages segment has further been segmented into probiotic and prebiotic drinks, sports/energy drinks, and others. The carbonated soft drinks segment is touted to dominate the global market during the review period due to its large consumption rate among the current demographic. However, the fruit and vegetable juices segment is expected to register the highest CAGR during the forecast period.
Cans, cartons, bottles, and others are different types of packaging formats discussed in the global non-alcoholic RTD beverages marekt report. In 2018, the bottles segment accounted for the largest revenue share of the global market. However, cans is expected to register a massive growth rate during the forecast period.
Based on distribution channel, the global non-alcoholic RTD beverages market has been categorized as store-based and non-store-based. The store-based segment is split into convenience stores, supermarkets and hypermarkets, and others. The store-based segment can be a noticable avenue for accumulating revenue for the market, while the non-store-based segment is expected to exhibit a stellar growth rate from 2021to 2026.
Regional Analysis
The global non-alcoholic RTD beverages market reports regions of prime importance, namely Europe, Asia Pacific (APAC), North America, and the Rest-of-the-World (RoW).
North America is projected to dominate the global market due to massive investments by players and the introduction of new brands. The U.S., particularly, is expected to contribute to the regional market due to a massive consumer base and demand for energy drinks. Opening of new distribution channels and accessibility to non-alcoholic beverages can drive the market demand.
On the other hand, the APAC region can register a massive windfall due to the wide-scale consumption of beverages, rising disposable income levels of consumers, and adopted lifestyles of consumers. Launch of new flavors has facilitated the growth of the global non-alcoholic RTD beverages market.
Competitive Outlook
PepsiCo, DRY Soda Company, The Republic of Tea, Keurig Dr Pepper Inc., Lotte Chilsung Beverage Co. Ltd, Big Easy Blends, LLC, Suntory Holdings Limited, POKKA SAPPORO Food Beverage Ltd., Monster Energy, Yakult Honsha Co., Ltd., Starbucks Corporation, Danone S.A., Nestlé S.A., The Coca-Cola Company, and Ting Hsin International Group are commendable players working in the global non-alcoholic RTD beverages market.
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Industry Update
The Molson Coors Brewing Company, a Canadian company, has decided to change its plans to gain additional profits by venturing into the non-alcoholic RTD beverages segment. It has begun its ascent by acquiring a minority stake in L.A. Libations, a startup.
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