Global Non-alcoholic Drinks Market Restrained by Rising Health Awareness among Consumers

2024-11-06 07:14:06 Lifestyle

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The Asia Pacific regional segment of the global non-alcoholic drinks market is projected to expand at the fastest rate in the coming few years. This is projected to drive the overall non-alcoholic drinks market significantly. One of the key reasons behind the growth of the Asia Pacific non-alcoholic drinks market is the rising disposable income levels in this region. Emerging businesses in Asia Pacific such as power, construction, and the automotive sector are expanding at a high rate, which, in turn, has boosted the disposable income levels in this region. This growth in emerging economies will boost the demand for convenience foods and beverages, which will bolster the global non-alcoholic drinks market.

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Furthermore, due to the rapid urbanization and changing lifestyle in economies such as China, India, and Singapore, Asia Pacific is projected to emerge as the largest regional market for non-alcoholic drinks by the end of 2020.

Increasing Awareness Challenging Global Non-alcoholic Drinks Market

Besides the aforesaid factors, the global non-alcoholic drinks market will also be driven by the changing consumer preferences due to globalization and introduction of new product variants and flavors. Driven by these trends, the global non-alcoholic drinks market is projected to expand at a 4.30% CAGR in terms of revenue during the forecast period from 2014 to 2020. In 2013, the global non-alcoholic drinks market was worth over US$1,435.2 bn and by 2020, the market is projected to be worth more than US$1,937.7 bn. By volume, the global non-alcoholic drinks market will expand at a 4.90% CAGR during the forecast period.

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Nevertheless, the global non-alcoholic drinks market will be suppressed by the growing awareness of consumers about health. Awareness related to the long-term health effects of excessive intake of sugary and unnaturally sweetened drinks is increasing among consumers. This is one of the key challenges for the global non-alcoholic drinks market.

Tea and Coffee Segment to Enjoy Fastest Growth in Global Market

By product, the global non-alcoholic drinks market is segmented by dairy drinks, juice, tea and coffee, bottled water, soft drinks, and others. In 2013, the soft drinks segment dominated the market and total consumption of soft drinks was noted at 471.07 bn liters. This segment benefits from the rapid industrialization in emerging markets, which is propelling the demand for soft drinks. On the other hand, the tea and coffee segment is expected to expand at the fastest CAGR of 7.0% during the forecasting horizon.

Although the rising disposable income levels in emerging economies will drive the global non-alcoholic drinks market, it is North America that dominated the global market in 2013. The North America non-alcoholic drinks market is fuelled by the elevated health awareness of consumers regarding non-alcoholic drinks. On the other hand, the Rest of the World segment will exhibit good growth in the coming few years, as many major product variants are yet to be launched in this region.

Players in the global non-alcoholic drinks market will benefit from the rising demand for the mix of hydration, flavor, and energy. Some of the key players operating in the global non-alcoholic drinks market are The Coca-Cola Company, PepsiCo, Danone, Attitude Drinks, Dr Pepper Snapple, and DyDo DRINCO.

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