The global nonalcoholic beverage market is expected to reach USD 1.60 trillion by 2025, according to a new report by Grand View Research, Inc. Rising societal awareness toward serious health problems is acting as the biggest driver for nonalcoholic beverage market. The industry is reshaping itself by changing the orientation from carbonated soft drinks to non-nutritive low-calorie beverages.
Various studies and research have proved that obesity is linked to higher consumption of CSDs. This has led to the development of calorie-free or low-calorie drinks, such as functional beverages, bottled water, and fruit beverages. Childhood obesity rate for the age groups of 2-5 and 12-19, has doubled in past 30 years in the U.S. The government is also trying to reduce the sales and consumption of drinks made from nutritive sweeteners by imposing sugar taxes.
Stringent government regulations for labeling, listing the ingredients used, etc. in developed countries are expected to restrain the market growth. On the other hand, initiatives to attract the global players by increasing foreign investments, trade promotion, and economic subsidies in the developing economies are expected to foster the industry growth.
New product launches, as a result of the product line extension, have enabled customers to select application-specific offerings from a wide variety of options. The widening distribution channels have led to easy product availability, which has been a key industry driver in the past. Marketing and advertising plays the most important role in organizational sales and sustainability. Trade promotion, advertising, sales promotion, and public relations are the main promotional activities employed by the key players.
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www.grandviewresearch.com/industry-analysis/nonalcoholic-beverage-market
Further Key Findings from The Report Suggest:
- The global nonalcoholic beverage market was valued at USD 967.3 billion in 2016. The market is projected to grow at an estimated CAGR of 5.8% over the forecast period.
- Carbonated soft drinks occupied the highest market share in 2016 owing to its high market penetration
- North America accounted for the largest market for nonalcoholic beverage industry in 2016 owing to the presence of developed economy and high standard of living
- Functional beverages are expected to emerge as the fastest growing product segment in the market on account of high demand for ready to drink coffee and tea, relaxation drinks, and energy drinks
- The key players include PepsiCo, Inc., The Kraft Heinz Company, Dr. Pepper Snapple Group, Inc., The Coca-Cola Company, and Nestle S.A.
Access press release of this research report by Grand View Research: https://www.grandviewresearch.com/press-release/global-nonalcoholic-beverage-market
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
For More Information: www.grandviewresearch.com
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