Published on : Aug 23, 2016
The beverages that comprise lesser than 0.5% alcohol in terms of volume are defined as nonalcoholic drinks. A number of beverages such as fruit juices, tea, and coffee are also considered as nonalcoholic drinks, while nonalcoholic kinds of alcoholic drinks including wine and beer also fall under nonalcoholic drinks.
Increasing Inclination toward Mixed Flavors to Drive Demand for Nonalcoholic Drinks
The demand for these drinks is on the rise from few decades owing to the increasing inclination toward energy, hydration, and mixed flavors amongst masses globally. As per Transparency Market Research, the nonalcoholic drinks market stood at US$1,435.2 bn in 2013 and is predicted to reach US$1,937.7 bn by 2020, expanding at a 4.30% CAGR from 2014 to 2020.
Increasing Consumption of Coffee and Tea to Fuel Market Growth
The market for nonalcoholic drinks is fuelled by the increasing consumption of coffee and tea. This is owing to the fact that both tea and coffee have a number of health-related benefits. Due to this reason the consumption of tea and coffee has been there since a number of decades and is poised to remain the same in the coming years. Furthermore, the prepackaged ready-to-drink tea and coffee can be easily find all over the world, and this will further propel the development of the market.
Demand for Aerated Drinks Constant in Developing Economies while Falling in Developed Economies
In addition, North America is a top market for the nonalcoholic drinks market currently. On the other hand, the rising demand for frizzy fruit-based drinks is also a high-impact factor fuelling the growth of the nonalcoholic drinks market. Though the aerated drinks’ demand is falling within developed nations, still their demand is constant with the developing economies. Therefore, the inclination toward soda-based drinks is rising in regions such as Latin America and Asia Pacific.
The prime players operating in the global nonalcoholic drinks market are A.G. Barr, plc. (U.K.), Dydo Drinco, Inc. (Japan), Dr. Pepper Snapple Group, Inc. (U.S.), Attitude Drinks, Inc. (U.S.), Calcol, Inc. (U.S.), LiveWire Ergogenics, Inc. (U.S.), Danone (France), PepsiCo, Inc. (U.S.), The Coca-Cola Company (U.S.), and Nestlé S.A. (Switzerland), among others.