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Non-alcoholic Beverages Market size was valued at USD 994.01 billion in 2019 and is poised to grow from USD 1077.35 billion in 2023 to USD 1879.91 billion by 2031, growing at a CAGR of 8.56% in the forecast period (2024-2031).

The Non-alcoholic Beverages market is relatively fragmented, with a high level of competition. Companies are working on new product launches and other initiatives to provide better equipment to their customers and expand their companies globally. These industry leaders are expanding their client base in a variety of ways, and many organizations are forming strategic and creative partnerships with other start-up businesses in order to increase market share and profitability. 'Coca-Cola Company', 'PepsiCo Inc.', 'Nestlé S.A.', 'Keurig Dr Pepper Inc.', 'Unilever Group', 'Danone S.A.', 'Monster Beverage Corporation', 'Red Bull GmbH', 'Asahi Group Holdings Ltd.', 'Tingyi (Cayman Islands) Holding Corp.', 'The Kraft Heinz Company', 'The Coca-Cola Bottling Co. Consolidated', 'The Coca-Cola Hellenic Bottling Company S.A.', 'Suntory Beverage & Food Limited', 'Dr Pepper Snapple Group Inc.', 'Britvic plc', 'Monster Energy Company', 'National Beverage Corp.', 'Lucozade Ribena Suntory Limited', 'The Pepsi Bottling Group, Inc.'

Due to the increasing reliance of customers on the internet and e-commerce, technological advancements and virtual shopping trends are predicted to have a significant influence on the drinks industry. The worldwide E-commerce Foundation said in 2018 that the number of people using the internet has been constantly rising. In 2018, e-commerce generated almost 30 percent of the total worldwide sales for groceries, and this figure is projected to increase going forward. In order to assist the industry growth over the upcoming years, soft drink producers are putting a lot of effort into creating new online businesses.

Manufacturers were forced to launch a number of nutrient-rich goods on the non-alcoholic beverages market due to the growing customer interest in healthy beverages. Consumers, particularly millennials, are becoming more adventurous and open to trying out fresh, healthier soda alternatives. By exposing the changing tastes of millennial customers and their offspring throughout the world, the demand is forcing manufacturers to reconsider how they formulate their products and has an influence on new manufacturing ideas.

The Asia Pacific has emerged as the non-alcoholic beverages market leader and will remain so during the projection period, owing to a consistent development in discretionary income status and consumer living standards. Consumer spending on beverage items has grown as a result of consumers' rising acceptance of western culture and modernization. Due to the rise in consumer demand for RTD beverages and sports drinks, the markets in North America and Europe are predicted to expand at a high CAGR. The consumption of alcohol is falling in each of the aforementioned locations, and consumers are shifting their attention to "better-for-you" goods that support the non-alcoholic beverages market for healthy soft drinks.

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Global Non-alcoholic Beverages Market

Product ID: SQMIG30G2045