Major companies in the non-alcoholic beverages market include PepsiCo; Coca-Cola; Nestlé; Suntory Holdings Limited and Red Bull GmbH. The global non alcoholic - beverages market is expected to grow from $378.
New York, Feb. 01, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Non Alcoholic - Beverages Global Market Report 2021: COVID 19 Impact and Recovery to 2030" - https://www.reportlinker.com/p06018944/?utm_source=GNW
38 billion in 2020 to $410 billion in 2021 at a compound annual growth rate (CAGR) of 8.4%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $532.3 billion in 2025 at a CAGR of 7%.
The non-alcoholic beverages market consists of sales of beverages that do not contain any alcohol by entities (organizations, sole traders and partnerships) that produce beverages that do not contain any alcohol. The companies in the non-alcoholic beverages industry process raw materials into non-alcoholic beverages, package and distribute them through various distribution channels to both individual customers and commercial establishments. The non-alcoholic beverages market is segmented into coffee and tea and soft drink and ice.
Asia Pacific was the largest region in the global non alcoholic - beverages market, accounting for 39% of the market in 2020. Western Europe was the second largest region accounting for 24% of the global non alcoholic - beverages market. Africa was the smallest region in the global non alcoholic - beverages market.
Increasing health awareness and consciousness among consumers, is driving the demand for beverages that provide nutrition, antioxidants and probiotics. Health beverages support detoxing, weight loss, digestive health, nutrition and in some cases act as meal replacements. For instance, Kombucha, a fermented tea made from a mix of yeast, bacteria culture, sugar and tea is increasingly being consumed as a health beverage. According to the Beverage Daily, the kombucha market is expected to grow 25% annually until 2020. To cater to the health beverages market, Pepsi is launching products such as organic Gatorade.
The outbreak of Coronavirus disease (COVID-19) has acted as a massive restraint on the nonalcoholic - beverages market in 2020 as supply chains were disrupted due to trade restrictions and consumption declined due to lockdowns imposed by governments globally. COVID 19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China and spread globally including Western Europe, North America and Asia. Food and beverage manufacturers depend on supply of raw materials from domestic and international suppliers. As many governments restricted the movement of goods across countries and locally, manufacturers had to halt production due to lack of raw materials. Also, restrictions on trade of non-essential goods and fear of contamination through manufacturing facilities contributed to the decline. The outbreak is expected to continue to have a negative impact on businesses throughout 2020 and into 2021. However, it is expected that the non alcoholic - beverages market will recover from the shock across the forecast period as it is a ’black swan’ event and not related to ongoing or fundamental weaknesses in the market or the global economy
World population is growing and is expected to reach 10 billion by 2050. Increase in population creates more demand for food. According to the American Society of Nutrition, the consumption of sugar-sweetened beverages was highest in Mexico. Crop production, farming activities and trade volumes will have to increase in order to meet increased population. Therefore, companies in this market are expected to benefit from rising demand for food and beverage products due to rising population, during the forecast period.
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