Low-Alcohol Beverages Market: Evolution
In several countries, low-alcohol beverages have over the past few years gained significant steam among health-conscious populations. Gen Y and millennial have increasingly gravitated toward healthy food habits. A key trend is reducing the daily intake of alcohol and abstaining from hard liquor for celebrations. The drive for low-alcohol beverages market stems from this trend and has gathered force on the back of consumers making a conscious choice for low-alcoholic beverages to celebrate.
Beverages manufacturers have responded to the growing proclivity toward healthy drinks by offering low-alcohol beverages to meet range of occasions and moods. Typically, the products in the low-alcohol beverages market contain alcoholic strength by volume (ABV) that lie between 0.05 and 1.2%.
Some of the key product types in the low-alcoholic beverages market are low-alcohol beer, low-alcohol wine, low-alcohol RTD, low-alcohol cider, and low-alcohol spirits.
Expanding operations in future? To get the perfect launch ask for a custom report
Low-Alcohol Beverages Market: Drivers, Current Prospects, Lucrative Avenues
The growing sales of glass-bottled cocktail has bolstered the revenue generation in the low-alcohol beverages market. In various key regions, lower alcohol beers have come to occupy a significant shelf space in supermarkets and specialty stores, offering consumers extended options.
Growing number of young adults are showing an affinity toward mocktails. However, the sheen of classic alcoholic beverages hasn’t weaned. The growing penetration of low or non- alcoholic category of beverages has bolstered the prospects of the low-alcohol beverage market. During the COVID-19 pandemic, extended stay-at-home schedules led to a surge in popularity of low-alcohol beverages among adults. The pandemic kickstarted interest in low-alcohol cocktails for many who weaned on only hard liquor before the outbreak.
In the recent months, as the economies have started opening up, social gatherings, sports and tournaments, and leisure events have also been kicked off. The developments have favored the demand for products in the low-alcohol beverages market. The preference of low-alcoholic beverages has anchored in the need to reduce the impacts of alcohol on health. The growing number of low-alcoholic beverages in ready-to-drink segment is a key trend that is expected to draw in investments.
Low-Alcohol Beverages Market: Competition Landscape and Key Developments
Players in the low-alcohol beverages market are keen on consolidating their supply chain. Top players are leaning on expanding their geographical footprints. In this regard, family-owned vineyards are keen on are supplying products with range of flavors and textures. A few brands with established presence in hard liquor are growing their footprints by launching light variants. Home-grown brands have benefitted from the expanding menu of low-ABV sections in bars in recent months in developing and developed regions.
Some of the key players in the low-alcohol beverages market are The Boston Beer Co. Inc., Olvi Plc, New Belgium Brewing Co. Inc., Molson Coors Beverage Co., Heineken NV, Constellation Brands Inc., Carlsberg Breweries AS, Asahi Group Holdings Ltd., and Anheuser Busch InBev SA/NV. Top players are keen on strengthening their position by increasing the share of organic and clean label products.
Request a sample to get extensive insights into the Low-Alcohol Beverages Market
Low-Alcohol Beverages Market: Regional Landscape
Europe is a highly lucrative region in the global low-alcohol beverages market. The growing acceptance of low-alcohol beers has fueled the growth of the Europe low-alcohol beverages market. Further, over the past years, there has been a strong trend to reduce the daily intake of alcohol among young adults. Furthermore, beverages manufacturers in the low-alcohol beverages market have been constantly leaning on expanding the range of flavors and textures of products in wine, beers, and spirits.
Some of the other key regions in the global low-alcohol beverages are Asia Pacific, North America, the Middle East and Africa, and Latin America.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.