A report released recently by Transparency Market Research (TMR) pegs the value of the global non-alcoholic drinks market at US$1,435.2 bn in 2013. The market, according to the report, will reach US$1,937.7 bn by 2020. If the figures hold true, the global non-alcoholic drinks market will exhibit a positive CAGR of 4.30% between 2014 and 2020. By volume, the global non-alcoholic drinks market is expected to reach 1,289.03 bn liters by 2020, from 912.77 bn liters in 2013. Based on volume, therefore, the market is expected to exhibit a CAGR of 4.90% during the forecast period. The report is titled “Non-Alcoholic Drinks Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020” and is available on TMR’s official website for sale.
Browse the full Non-Alcoholic Drinks Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020 report at http://www.transparencymarketresearch.com/non-alcoholic-drinks-market.html
Due to globalization, a paradigm shift in consumer preference for food and beverages has been noted, which has impelled major market players to introduce new variants and flavors in food products. This is the primary factor fuelling demand from the global alcoholic drinks market.
GDP of developing nations is anticipated to strengthen further in the next few years, due to rapid expansion of the construction, automotive, and power industries. This increases the disposable income of people, which subsequently fuels demand from the non-alcoholic drinks market. Despite achieving a sustainable growth rate, the market, according to the report, will face a challenge from the growing awareness among consumers about the long-term negative health implications of having sugar-sweetened beverages in excess. Among the key regional markets for alcoholic drinks, North America holds the leading position, followed by Asia Pacific. Rapid urbanization and rapidly evolving lifestyle in developing economies such as India, Singapore, and China will augment demand for non-alcoholic drinks from the Asia Pacific market, which is also anticipated to exhibit the highest CAGR during the report’s forecast period.
Illustrating the growth prospects of the non-alcoholic drinks market in North America and Europe, a lead TMR analyst said, “Since these regions witness a high incidence of obesity that is directly related to excessive consumption of sugar sweetened beverages, manufacturers in North America and Europe are impelled to launch diet drinks and healthier variants with no added flavor or sugar to cater to the changing consumer preference.”
The report segments the global non-alcoholic drinks market into tea and coffee, soft drinks, dairy drinks, juice, and bottled water for the purpose of study. Of these, soft drinks comprise the largest product segment, accounting for a total consumption of 471.07 billion liters in 2013. However, according to the report, the segment of tea and coffee is likely to exhibit the fastest CAGR, of 7.0% during the forecast period.
Among the key regional market segments, North America holds a dominant share in the global non-alcoholic drinks market. In 2013, the North America non-alcoholic drinks market stood at US$220.8 bn. “Due to growing healthcare awareness among consumers in the region, the demand for non-alcoholic drinks in North America will remain steady. However, the Asia Pacific market will exhibit the fastest CAGR, 6.80% during the 2014-2020 period owing to the increasing disposable income of people living in the region” – said the TMR analyst.
The report segments the global non-alcoholic drinks market as:
Non-Alcoholic Drinks Market, by Product
- Soft Drinks
- Bottled Water
- Tea and Coffee
- Dairy Drinks
Non-Alcoholic Drinks Market, by Geography:
- Rest of North America
- Rest of Europe
- Rest of Asia Pacific
Rest of the World
- Middle East
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