Asia
Pacific and North America largest regions in terms of consumption of
non-alcoholic beverages
Non-alcoholic
beverages are fast gaining popularity in Asia Pacific, owing to a
growing consumption of tea and coffee in the region, particularly in
countries like India. The consumption of non-alcoholic beverages in
Asia Pacific stood at 200 Bn liters in 2016 and this is expected to
increase to 301 Bn liters by the end of the forecast period in 2027.
North America is a close second in terms of non-alcoholic
beverages consumption, with a recorded 169 Bn liters in 2016
expected to increase to 256 Bn liters by the end of 2027. Consumers
in North America are moving towards a healthier lifestyle and seem to
prefer sports and energy drinks to keep themselves fit and hydrated
through the day. This factor is primarily responsible for the boost
in consumption of non-alcoholic beverages across the region.
In
terms of volume CAGR, both Asia Pacific and North America are slated
to witness a growth rate of 3.9% over the forecast period. The
billion dollar global non-alcoholic beverages market is highly
concentrated in these two regions, with Asia Pacific estimated to
reach a market valuation in excess of US$ 650 Bn by 2027 end and
North America anticipated to cross US$ 600 Bn towards the close of
2027. While Asia Pacific will register a value CAGR of 4.6%, North
America will record 4.7% during the decadal study.
Trends
likely to be witnessed across the key regional non-alcoholic
beverages markets
North
America: Health conscious Americans are looking for healthy
alternatives to traditional soda beverages and this has prompted
non-alcoholic beverages manufacturers to launch innovative products
such as cold-pressed juices, craft sodas, and other low-calorie
beverages. New flavors of sparkling water and energy drinks are fast
replacing soda beverages in the region. Also, North America is
witnessing a rapid growth in the functional beverages segment.
Beverages double up as guilt-free snacks, drinkable breakfasts, or
even meal replacements. With consumers in North America demanding
more nutritious, alcohol-free beverages, there has been a sharp rise
in naturally produced functional beverages with inherent benefits
such as blood sugar management, energy, refreshment, and immunity
boosting properties.
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Asia
Pacific: The Asia Pacific region is witnessing an increased
consumption of protein drinks, and this is not limited to just
athletes and sportspeople. Women and senior citizens across the
region are also showing an inclination towards protein drinks owing
to health and wellness trends prevalent among the general population,
especially among working women and the health conscious geriatric
population in Asia Pacific. Further, there is a high preference for
soft drinks among the young population in Asia Pacific. The APAC
region supposedly offers the best income growth prospects in the
world, and several young professionals from different parts of the
world are moving to Asia Pacific for career prospects. This has
fueled the demand for and consumption of RTD beverages and soft
drinks as well as healthier functional beverages among the millennial
working class.
Europe:
Europe is the third largest consumer of non-alcoholic beverages after
Asia Pacific and North America and the primary reason for this is an
increasing consumer shift towards non-alcoholic beverages and a
growing popularity of specialty tea across the region. In Europe, an
emerging trend of adult or spicy drinks is being noticed of late.
Spices are no longer used only in cooking; today, spices find
application in non-alcoholic drinks production as well. Spices such
as chili and ginger provide strong flavors to non-alcoholic beverages
and are preferred by health conscious people who wish to avoid
alcoholic and sugary beverages. This increasing preference for adult
drinks has boosted market demand and subsequently production in the
Europe non-alcoholic beverages market. Further, European consumers
are shying away from sugar in a bid to promote a healthy lifestyle,
and this has negatively impacted the sales of non-alcoholic beverages
in the region. To boost sales and increase market share,
non-alcoholic beverages manufacturers in Europe are launching old
consumer favorites with a new touch and flavor. The launch of non-GMO
labeled Tropicana is a classic example.
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