Non-Alcoholic RTD Beverages Market Size and Growth Analysis By 2030

Byshital varma

The global non-alcoholic RTD beverages market size was gauged at USD 702.89 billion in 2022. The market is anticipated to expand from USD 732.49 billion in 2023 to USD 1,076.94 billion by 2030, exhibiting a CAGR of 5.66% during the forecast period. Growing health-conscious population, rising demand for convenient products, and consumer inclination towards non-alcoholic drinks are the factors contributing to market growth in the upcoming years. This information is provided by Fortune Business Insights, in its report titled, “Non-Alcoholic RTD Beverages Market, 2023-2030.”

List of Key Players Mentioned in the Report:

  • PepsiCo Inc. (U.S.)
  • The Coca-Cola Company (U.S.)
  • Nestle S.A. (Switzerland)
  • Danone S.A. (France)
  • Red Bull GmbH (Austria)
  • Suntory Holdings Limited (Japan)
  • Keurig Dr Pepper Inc. (U.S.)
  • Asahi Group Holdings Ltd. (Japan)
  • Reed’s, Inc. (U.S.)
  • Monster Beverage Corp (U.S.)

Source Link :

https://www.fortunebusinessinsights.com/non-alcoholic-rtd-beverages-market-107382

 

Segmentation:

Supermarkets/Hypermarkets Segment to Lead Due to Easy Access to Wide Variety of Products

According to distribution channel, the market is split into supermarkets/hypermarkets, specialty stores, convenience stores, online retail, and others. Among these, the supermarkets/hypermarkets segment dominated the market. They offer easy access to a wide variety of products and beverage brands under one roof. They offer an enhanced and comfortable shopping experience to buyers.

Non-Fermented Beverage Segment to Dominate

As per product type, the market is divided into fermented beverages (dairy-based beverages and others) and non-fermented beverages (fruit and vegetable juices, dairy beverages, sports and energy drinks, functional water, carbonated soft drinks, and others). The non-fermented beverage segment holds the dominant share of the global market.

Geographically, the market is segregated into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.

Report Coverage:

The report covers:

  • COVID-19 impact analysis
  • Market share, growth rate, valuation of each region and segment
  • Mergers and acquisitions, partnerships, collaborations and partnerships undertaken by key players
  • Drivers, restraints, opportunities, and threats affecting market dynamics

Drivers and Restraints:

Surging Demand for Energy Drinks Among Health-Conscious Populace to Aid Market Augmentation

Consumers are increasingly inclined towards health and fitness activities which is elevating the demand for sports and energy drinks. People consume energy drinks as they help in enhancing performance alertness, and endurance. The increasing consumption of energy drinks is thus driving non-alcoholic RTD beverages market growth.

Moreover, several companies operating in the market are offering low-sugar and low-calorie functional energy drinks which will contribute to market augmentation as well. For example, in January 2023, Prime Hydration, LLC., a company offering drink mixes, sports drinks, and energy drinks, introduced a new energy drink named Prime Energy which contains zero sugar and provides 200mg of caffeine per serving.

On the other hand, non-alcoholic RTD beverages have a very high sugar content and are high calorie in nature which will affect their demand negatively and hinder market proliferation.

Regional Insights:

Asia Pacific held majority of the non-alcoholic RTD beverages market share in 2022 owing rising population and urbanization, growing economic development, and consumer demand for healthy and hygienic products. The region is further witnessing increasing demand for health and wellness drinks. Consumers in the region are demanding functional beverages and foods, owing to their huge interest in holistic well-being which will further propel market expansion.

North America is anticipated to grow significantly in the upcoming years owing to the growing popularity of carbonated drinks in the region. Alcohol consumption in the region has decreased substantially owing to its short-term and long-term health risks. Moreover, the surging demand for low-calorie and no-sugar carbonated beverages led manufacturers to innovate and create different flavors for zero-calorie drinks to attract more consumers which is further attribute to market augmentation.

Europe market is estimated to grow significantly in the upcoming years stoked by surging demand for plant-based food and beverages in the region due to the rising occurrence of lactose intolerance. Leading players are launching innovative beverage options to cater to the growing consumer demands for plant-based options which will further elevate market augmentation.

Competitive Landscape:

Partnerships Between Industry Leaders to Propel Market Growth

Tactical developments such as mergers and acquisitions, product launches, partnerships, and collaborations play an essential role in driving market growth and increasing profit margins. They help companies in strengthening their market position and gaining a competitive edge over other players. For instance, in February 2022, PepsiCo Inc. joined forces with Starbucks, an American global chain of coffeehouses, to enter the energy drinks market by launching RTD drink Baya Energy, a carbonated beverage. The joint venture enabled both companies to expand their RTD product portfolio.

Key Industry Development:

September 2022: Nestle S.A., a Swiss multinational food and drink processing company, announced its plans to launch a non-alcoholic RTD beverage which contains cultivated whey. The product is a sustainably sourced dairy alternative option for consumers.