The
global non-alcoholic drinks market features an intensely competitive
landscape, characterized by intense rivalry amongst the leading
players, notes Transparency Market Research (TMR). Some of the key
players in the market are Dr Pepper Snapple, LiveWire Ergogenics,
Dydo Drinco, A.G. Barr, PepsiCo, Danone, the Coca-Cola Company,
Attitude Drinks Inc., and Nestlé S.A. Prominent food and beverages
companies operating in the market are actively consolidating their
product portfolios by introducing a variety of flavors. A large
number of leading players increasingly opt for price differentiation
strategy in order to gain a competitive edge over others, observes
TMR. In addition, small players are focused on strengthening their
foothold in the market by launching drinks that cater to local taste
and preference.
The
global market for non-alcoholic
drinks market was valued at US$1,435.25 bn in 2013 and is
projected to reach US$1,937.73 bn by the end of 2020, in terms of
volume. The market is projected to rise a CAGR of 4.30% from 2014 to
2020.
Based
on product, the tea and coffee segment is projected to rise at the
leading CAGR of 7.0% from 2014 to 2020. The growth of the segment is
vastly fueled by the rapid pace of industrialization and the rising
disposable incomes of consumers. Regionally, the North America for
non-alcoholic drinks market held the major revenue in 2013 and is
predicted to lead the market in the next few years. The dominance of
the regional market is attributed to the rising health awareness of
populations across all age groups in the region.
Rising
Disposable Incomes and Mounting Health Concerns Boost Market
The
constant change in consumer shifts in the food and beverages segment
and the rising spending of populations in non-alcoholic drinks
attributed to increasing per-capita incomes are the key factors
driving the market. The changing taste and preferences of consumers
is inclined toward a variety of flavors bolstering the demand for
various types of non-alcohol drinks. The general rising temperatures
of the world, on account of global warming, is boosting the demand
for non-alcoholic beverages. In addition, the rising health concerns
has led a large chunk of population in developed and developing
regions to prefer non-alcoholic over alcoholic drinks. For instance,
this is fueling the demand for packaged fruit juices and dairy
drinks.
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The
increasing disposable incomes of consumers in emerging economies has
boosted the demand for soft drinks. The growing popularity of soft
drinks across demographics is a key factor catalyzing the market. The
changes in demographics in various regions has propelled the demand
for tea and coffee.
Inclination
to Imbibe on New Flavors in Drinks among Young Populations Catalyzes
Market
In
recent years, the mounting health concern related to the adverse
effect of sweetened beverages by artificial means is a key factor
likely to hamper the demand for non-alcoholic drinks in the coming
years. However, the rising purchasing power of consumers has led to
the demand for innovative flavors and nutrition in coffee. Increased
focus of numerous food and beverages company on differentiating their
offerings have led them to capitalize on emerging opportunities in
several emerging markets. In addition, the sustained introduction of
new products in different flavors and variants is anticipated to open
up lucrative avenues for these players. Furthermore, the rising youth
populations, especially in developing nations of Asia Pacific, is a
key trend expected to change the consumption pattern in favor of
non-alcoholic drinks. These populations are active in trying new
flavors as refreshing alternatives. This is expected to augur well
for the market in the coming years.
