Beverage News
Global Non-Alcoholic Beverage Market Forecasts to 2025
The global nonalcoholic beverage market was valued at USD 967.3 billion in 2016 and is projected to grow at an estimated CAGR of 5.8% to reach USD 1.60 trillion by 2025
Rising societal awareness toward serious health problems is acting as the biggest driver for nonalcoholic beverage 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.
Source: Research and Markets
