The
Asia Pacific regional segment of the global non-alcoholic drinks
market is projected to expand at the fastest rate in the coming few
years. This is projected to drive the overall non-alcoholic drinks
market significantly. One of the key reasons behind the growth of the
Asia Pacific non-alcoholic drinks market is the rising disposable
income levels in this region. Emerging businesses in Asia Pacific
such as power, construction, and the automotive sector are expanding
at a high rate, which, in turn, has boosted the disposable income
levels in this region. This growth in emerging economies will boost
the demand for convenience foods and beverages, which will bolster
the global non-alcoholic drinks market.
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Furthermore,
due to the rapid urbanization and changing lifestyle in economies
such as China, India, and Singapore, Asia Pacific is projected to
emerge as the largest regional market for non-alcoholic drinks by the
end of 2020.
Increasing
Awareness Challenging Global Non-alcoholic Drinks Market
Besides
the aforesaid factors, the global non-alcoholic drinks market will
also be driven by the changing consumer preferences due to
globalization and introduction of new product variants and flavors.
Driven by these trends, the global non-alcoholic drinks market is
projected to expand at a 4.30% CAGR in terms of revenue during the
forecast period from 2014 to 2020. In 2013, the global non-alcoholic
drinks market was worth over US$1,435.2 bn and by 2020, the market is
projected to be worth more than US$1,937.7 bn. By volume, the global
non-alcoholic drinks market will expand at a 4.90% CAGR during the
forecast period.
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Nevertheless,
the global non-alcoholic drinks market will be suppressed by the
growing awareness of consumers about health. Awareness related to the
long-term health effects of excessive intake of sugary and
unnaturally sweetened drinks is increasing among consumers. This is
one of the key challenges for the global non-alcoholic drinks market.
Tea
and Coffee Segment to Enjoy Fastest Growth in Global Market
By
product, the global non-alcoholic drinks market is segmented by dairy
drinks, juice, tea and coffee, bottled water, soft drinks, and
others. In 2013, the soft drinks segment dominated the market and
total consumption of soft drinks was noted at 471.07 bn liters. This
segment benefits from the rapid industrialization in emerging
markets, which is propelling the demand for soft drinks. On the other
hand, the tea and coffee segment is expected to expand at the fastest
CAGR of 7.0% during the forecasting horizon.
Although
the rising disposable income levels in emerging economies will drive
the global non-alcoholic drinks market, it is North America that
dominated the global market in 2013. The North America non-alcoholic
drinks market is fuelled by the elevated health awareness of
consumers regarding non-alcoholic drinks. On the other hand, the Rest
of the World segment will exhibit good growth in the coming few
years, as many major product variants are yet to be launched in this
region.
Players
in the global non-alcoholic drinks market will benefit from the
rising demand for the mix of hydration, flavor, and energy. Some of
the key players operating in the global non-alcoholic drinks market
are The Coca-Cola Company, PepsiCo, Danone, Attitude Drinks, Dr
Pepper Snapple, and DyDo DRINCO.
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