The global non-alcoholic RTD beverages market size was valued 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. Non-alcoholic RTD beverages include a wide variety of refreshments and functional beverages such as sports and energy drinks, fruit juices, carbonated soft drinks, and others. Consumer inclination toward healthy alternatives, growing health consciousness among the population, and surging demand for convenience are the factors aiding market expansion. 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.)
Browse A Summery of This Research Report:
https://www.fortunebusinessinsights.com/non-alcoholic-rtd-beverages-market-107382
Segments:
Non-fermented Beverage Segment to Dominate Owing to Rising Demand for Carbonated Drinks
According to product type, the market is split into non-fermented beverages (fruit and vegetable juices, dairy beverages, sports and energy drinks, functional water, carbonated soft drinks, and others) and fermented beverages (dairy-based beverages and others). The non-fermented beverage segment captured a significant global market share in 2022. Rising demand for carbonated drinks owing to growing urbanization and aggressive beverage marketing is a key factor contributing to segment growth.
Supermarkets/Hypermarkets Segment to Lead Due to Convenience and Availability of a Wide Variety
As per distribution channel, the market is segmented into supermarkets/hypermarkets, specialty stores, convenience stores, online retail, and others. Among these, the supermarkets/hypermarkets segment captured a significant share in the global market. They offer easy accessibility to a wide range of products and beverage brands under one roof. They also adopt various strategies such as investments and capitalization to raise buyers’ comfort by offering them an easy shopping experience.
Geographically, the market is segregated into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
Report Coverage:
The report includes:
- List of key players in the global market
- Partnerships, collaborations, and other strategic developments undertaken by industry leaders
- Drivers, restraints, opportunities, and threats affecting market trends.
Drivers and Restraints:
Rising Popularity of Functional Waters and Healthy Beverages to Drive Market Augmentation
Consumers are very experimental when it comes to trying new food and beverage alternatives, which are very healthy and fortified with nutrients. Several consumers are focusing on nutrient enriched and healthier beverage options such as vitamin and mineral-infused functional waters. Moreover, beverage manufacturing companies are launching innovative functional bottled waters, which are further boosting the non-alcoholic RTD beverages market growth.
On the other hand, high sugar content in non-alcoholic RTD beverages and their high calorie content will reduce their demand and hinder market expansion in the coming years.
Regional Insights:
Asia Pacific to Dominate Backed by Rising Population and Increasing Urbanization
Asia Pacific captured majority of the non-alcoholic RTD beverages market share in 2022 due to increasing population and urbanization, rapid economic development, and surging demand for health and wellness drinks in the region. Consumers’ attitudes toward health, hygiene, and nutrition has also changed, thus contributing to the growing demand for healthy and functional beverages driving market proliferation.
The North America market is slated to grow significantly over the forecast timeframe owing to rising popularity and consumption of carbonated soft drinks in the region. Moreover, the demand for low-calorie and no-sugar carbonated beverages is increasing as people become more self-aware and calorie conscious. This will also facilitate market growth by increasing product demand.
The Europe market is anticipated to showcase substantial growth in the forecast period. Growing incidences of lactose intolerance and rising popularity of vegan diets in the region have elevated the demand for plant-based beverages in the region. Launch of plant-based and innovative beverage options will also elevate market expansion in the region.
Competitive Landscape:
Product Launches by Industry Leaders to Elevate Market Growth
Leading companies often make strategic decisions to maximize profits and gather larger revenues. One such move is the launch of innovative products to meet changing consumer requirements. For example, in September 2022, Gatorade, an American sports-themed beverage and food company, entered the energy drink segment with the launch of Fast Twitch. The new product contains 200 milligrams of caffeine, electrolytes, B vitamins, and other nutrients.
Key Industry Development:
March 2022: Diageo India launched two new refreshing carbonated mixers for an improved consumer experience, thus expanding their non-alcoholic RTD beverage portfolio in India. The company introduced the Black & White Ginger Ale and Johnnie Walker Refreshing Mixer in India for an uplifted in-home or outdoor beverage consumption experience.
