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FO_161814
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Pages: 130
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Dec 2016 | 5544 Views
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Author's :
Eswara Prasad
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Tables: 126
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Non-alcoholic drinks market size was valued at $1,548 billion in 2015, and is estimated to grow at a CAGR of 4.4% to reach $2,090 billion by 2022.
Ongoing advancements in the nonalcoholic drinks market with innovative efforts have further enhanced their demand. The competitive advantages of the market are also described in the report. To understand the market, drivers, restraints, and opportunities are explained. Moreover, the key strategies adopted by potential market leaders to facilitate the effective planning are also discussed.
Breakdown of Primary Respondents
The market holds a substantial scope for growth globally. The market is in its maturity stage; however, its contribution to the global market is projected to increase significantly within the next six years. Furthermore, seasonal demand and campaigns like Dryathlete are escalating the demand of nonalcoholic drinks market. However, health concerns and government taxes are major limitation for purchasing them; whereas, recent innovations, which embed functional benefits and natural or organic ingredients in manufacturing of alcoholic drinks is anticipated to enable the market to reach to a wider segment of audiences.
The global nonalcoholic drinks market encompasses product type and geography. The product type segment, namely, soft drinks, dairy drinks, tea & coffee, bottled water, juice, and others are covered under the scope of the report. By geography, the market is segmented into North America, Europe, Asia-Pacific, and LAMEA. Furthermore, the report also covers the strategies adopted by key market players to sustain competitive environment and increase their market share.
Nonalcoholic Drinks Market Segmentation
The winning strategies are a result of the analysis performed on company profiles of key market players. They are gathered and analyzed in reference to their recent developments. The data obtained through press releases by the companies has limited scope to publicly available information. The key strategies tracked from the recent developments of the companies in nonalcoholic drinks market include:
Product launch: It is a marketing strategy adopted by companies to develop new product and make as much sales as possible in a short time span.
Mergers & Acquisition: To strengthen their reach to customers or enhance technical capabilities, market leaders implement merger & acquisition.
Partnership: The leading players sign supply & sales agreements and plant manufacturing partnerships to capture major market share and compete with other players.
Business Expansion: In this, business entities enlarge their product portfolio by entering into entirely new business or expanding their global presence.
Top Investment Pockets
At present, soft drinks segment has witnessed large-scale adoption of nonalcoholic drinks market. However, this segment is anticipated to witness decline in market share due to growth in health concerns such as obesity and diabetics. Moreover, government regulations related to sugary drinks and increase in import duties have further hindered the market growth of soft drinks. Juice and dairy drinks are some of the other segments in market. The rapid growth of these segment markets is expected in subsequent years mainly due to rise in health and wellness demand. These products have the potential to generate high returns due to its natural and organic contents.
Adoption of tea & coffee is expected to rise with highest rate and is identified as one of the lucrative targets for investment. As compared to the other segments, this segment is expected to show huge potential due to their functional benefits like antioxidant properties and rise in cafe culture. However, these applications currently possess small market size in terms of value. Others (energy drinks, sport drinks, and hot drinks) are expected to witness good growth in the near future.
Health and wellness have significantly posed positive impact on the food and beverages industry. Increase in awareness of various health problems associated with alcohol has shifted the consumer preference from alcoholic drinks toward nonalcoholic drinks.
According to the World Health Organization (WHO), around 3.3 million deaths are reported every year due to the increase in consumption of alcohol. This corresponds to around one in twenty deaths or 5.9% of deaths worldwide.
Moreover, according to the Organization for Economic Cooperation and Development (OECD), Europe is the largest region for the alcohol consumption among the developed regions, which leads to escalating threat of alcoholic diseases. Furthermore, growth in prevalence of risk of obesity, anxiety, and addiction due to alcohol has boosted the rate of nonalcoholic drinks.
Europe Nonalcoholic Drinks Market
The year-on-year growth rate of European market is increasing from 2015 to 2022, which shows the product is in the growth stage. Europe is currently facing a major health problem of obesity. The manufactures introduced calorie free or less calorie products such as zero sugar and diet drinks. Such drinks are anticipated to augment nonalcoholic drinks market.
European market is anticipated to propel in the revenue as consequences of propelling incidence such as harmful alcohol consumption and metabolic syndromes related to overweight and obesity. In addition, lifestyle shift toward health benefit drinks such as probiotics or kombucha is projected to fuel the market growth during the forecast period.
Hungary Nonalcoholic Drinks Market Size, 2014-2022
Key players profiled in the report include A.G. Barr, Dr. Pepper Snapple Group, Dydo Drinco, Attitude Drinks, Co., Livewire Energy; Calcol, Inc., Danone, Nestl S.A., PepsiCo, Inc., and the Coca-Cola Company.
Other major players (not profiled in report) in the industry are Kraft Foods Group, Inc., Suja Life, LLC, FreshBev, Pressed Juicery, Suntory Beverage & Food, Unilever, Asahi Group, Jacobs Douwe Egberts, and Kirin Holdings Co.
KEY MARKET BENEFITS:
Nonalcoholic drinks, also known as virgin drinks, mocktails and near beer, refer to the beverages which comprise less than 0.5% of alcohol content by volume. The stringent government regulation and standards for the alcoholic drinks is one of the key drivers that propel the growth of the global nonalcoholic drinks market. Alcohol prohibition is issued in many countries such as Bangladesh, Brunei, Iran, Libya, Kuwait, Maldives, Mauritania (excluding some bars), Pakistan (excluding Murree beer), Saudi Arabia, Sudan, and Somalia (excluding United Nations and other expat compounds), United Arab Emirates (in emirate of Sharjah), India (in the states of Gujarat, Bihar, Manipur, Nagaland and the Union Territory of Lakshadweep), and Yemen. Accelerating growth in the market expected in these areas is mainly due to spiritual reasons and adverse effects associated with alcohol.
Some of the governments have restricted the sale of alcohol on some special days, at some places and density; limiting the consumption of alcohol. In addition, governments of many nations have set minimum legal age for purchase of alcohol and have also increased the price and tax on alcohol to reduce its consumption. Moreover, advertisement ban on alcoholic drinks by governments of some nations have reduced the market awareness for alcohol, which indirectly has escalated the demand of nonalcoholic drinks.
Flavors and packaging play a pivotal function in nonalcoholic drinks in all geographical areas. Flavors vary from country to country and even within countries. Companies try to provide flavors according to the local consumer preferences. For instance, Pepsi Azuki is marketed only in Japan, Pepsi holiday in U.S. and Canada, Pepsi Samba in Australia, and Pepsi Ice-cream in Russia. By understanding the demands of beverages; manufacturers, retailers, and consumer companies can dominate the market by providing unique local flavors.
Companies provide innovative packaging to attract consumers and encourage derivation from other products and thereby increase their market share. For instance, Coca Cola Companys Share a Coke campaign, which had 250 popular names on the bottles, increased around 2.5% sales in U.S. Furthermore, technology advances and special effect packaging provide companies to make their products more attractive than other products. Companies use effects such as pearlescent, glitter, color shift, and cold foils to make their products stand out.
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