Non-alcoholic Drinks Market to Reach $2.9 Trillion, Globally, by 2035 at 6.9% CAGR: Allied Market Research
The non-alcoholic drinks market is experiencing significant growth, driven by health-conscious consumer trends, changing lifestyles favoring mindful consumption, innovative product development, and effective marketing strategies. According to a report by Allied Market Research, the market was valued at $1.3 trillion in 2023 and is projected to reach $2.9 trillion by 2035, growing at a CAGR of 6.9%.
One of the key drivers of this growth is the increasing demand for healthier beverage options free from alcohol and artificial ingredients. Consumers are increasingly embracing mindful drinking practices and seeking more balanced consumption habits. Beverage companies are responding to this trend by introducing new and sophisticated non-alcoholic options to meet evolving consumer preferences.
The soft drinks segment emerged as the leader in the market in 2023, holding the highest market share and is expected to maintain its status during the forecast period. Soft drinks appeal to a broad demographic and offer a wide variety of flavors and packaging options, making them a staple in households, restaurants, and vending machines.
In terms of distribution channels, supermarkets/hypermarkets are leading the way by offering a vast selection of non-alcoholic beverages under one roof. The convenience, competitive pricing, and promotional offers provided by these outlets make them attractive destinations for consumers looking to purchase a variety of beverages.
The report also highlights the dominance of the Asia-Pacific region in the non-alcoholic drinks market by 2035. The region’s large and rapidly growing population, rising disposable incomes, and urbanization contribute to increased consumer spending on beverages.
Key players in the market include A.G. Barr, Dr. Pepper Snapple Group, Danone, Nestlé S.A., PepsiCo, Inc., and The Coca-Cola Company, among others. These companies are focusing on innovation, quality, and marketing strategies to meet the evolving demands of consumers.
In conclusion, the non-alcoholic drinks market is poised for significant growth in the coming years, driven by health and wellness trends, innovative product development, and expanding distribution channels. Consumers can expect to see a wider variety of non-alcoholic options catering to their preferences and lifestyle choices.
For more information, visit the Allied Market Research website.
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SOURCE Allied Market Research
