The global non-alcoholic drinks industry accounted for $820.0 billion in 2020, and is expected to reach $2,134.6 billion by 2030, growing at a CAGR of 6.8% from 2022 to 2031.
Major determinants of the market growth
Rise in urbanization, increased disposable income in developing countries, and surge in prevalence of diseases due to unhealthy lifestyle have boosted the growth of the global non-alcoholic drinks market. However, stringent government regulations associated with sugary drinks, preservatives, and additives hinder the market growth. On the contrary, surge in awareness of health and wellness among millennials and consumers would open new opportunities in the future.
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Major market players
- A.G. Barr
- Dr. Pepper Snapple Group
- DydoDrinco
- Attitude Drinks, Co.
- Livewire Energy
- Calcol, Inc.
- Danone
- Nestlé S.A.
- PepsiCo, Inc.
- the Coca-Cola Company
Covid-19 scenario:
- The Covid-19 pandemic created challenges in manufacturing of several non-alcoholic drinks. Moreover, cancellation of international sports events significantly declined their demand.
- However, as the world is slowly recovering from the pandemic, the market is expected to get back on track soon.
The soft drinks segment dominated the market growth
By product type, the soft drinks segment held the largest share in 2020, accounting for nearly two-fifths of the global non-alcoholic drinks market, due to its wide market penetration, rise in socialization among the consumers, and innovations in the category. However, the juice segment is expected to manifest the highest CAGR of 8.1% during the forecast period, due to rise in demand for nutritional diet and drinks among consumers.
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The online retails segment to manifest the highest CAGR through 2030
By distribution channel, the online retails segment is projected to register the highest CAGR of 7.5% during the forecast period, due to rise in production penetration and increase in mobile users. However, the supermarket/hypermarkets segment held the largest share in 2020, contributing to nearly two-fifths of the global non-alcoholic drinks market, owing to advent of modern trades, bulk buying tendency, and rise in consumer interest over one-stop shopping places.
Asia-Pacific, followed by North America, held the largest share
By region, the global non-alcoholic drinks market across Asia-Pacific, followed by North America, held the largest share in 2020, accounting for nearly one-third of the market. Moreover, the region is expected to showcase the highest CAGR of 8.0% during the forecast period, owing to rise in demand from millennials from developing countries including Thailand, India, and Indonesia.
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