Non-Alcoholic Drinks Market: Snapshot
The shifting lifestyles of consumers and the growing per capita income are amongst the prime factors positively impacting the global non-alcoholic drinks market. Due to the changing preferences of consumers, numerous flavors and variants of drinks have been introduced in this market which will bring in new growth opportunities in the global non-alcoholic drinks market. The increasing temperatures owing to global warming will also drive the growth of this market. This market is concentrated in nature and hence a couple of players hold a key share within this market. Due to the fact that the market is led by the changing tastes and preferences of consumers, this is why even smaller players are tapping into this market by catering to the needs of local residents and by keeping the prices competitive.
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The global non-alcoholic drinks market stood at US$1,435.25 bn in 2013 and is anticipated to touch US$1,937.73 bn by 2020, expanding at a 4.30% CAGR from 2014 to 2020. Volume-wise, this market is poised to rise at a 4.90% CAGR in the forecast period and will fuel the non-alcoholic beverages ‘consumption to 1,289.03 bn liters by 2020, starting from 912.77 bn liters in 2013. The increasing disposable income of consumers, the tastes of local consumers, and demographics will also bode well for the development of the non-alcoholic drinks market. On the other hand, the rising awareness on health is amongst the prime factors impeding the development of the global non-alcoholic market.
Tea and Coffee to Gain Demand Due to Rising Disposable Income of Consumers
Product-wise, the non-alcoholic drinks market is segmented into dairy drinks, juice, tea and coffee, bottled water, soft drinks, and others. Of these, the segment of soft drinks held a dominant share and stood at 471.07 bn liters in 2013. On the other hand, the segment of tea and coffee is poised to emerge as the most swiftly developing segment due to swift industrialization and the growing disposable income of consumers. This segment is predicted to rise at a healthy 7.0% CAGR between 2014 and 2020.
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In terms of geography, the report segments the global non-alcoholic drinks market into Europe, North America, Asia Pacific, and Rest of the World (RoW). Amongst these, the North America non-alcoholic drinks market emerged as the top market and was valued at US$220.79 bn in 2013. This is due to the growing awareness on health amongst individuals of all age groups in North America over the forecast period.
Increasing Count of Young Consumers to Positively Impact Asia Pacific Non-Alcoholic Drinks Market
On the other hand, Asia Pacific has also emerged as amongst the key markets for non-alcoholic drinks. The Asia Pacific non-alcoholic drinks market stood at US$332.22 bn in 2013 and is predicted to grow exponentially over the forecast period. This is due to the rising disposable income of consumers in developing nations of India and China and the increasing count of young consumers. In addition, the launch of ‘Make in India’ campaign in India will also provide impetus to the development of the non-alcoholic drinks market in Asia Pacific.
The prime players operating in the global non-alcoholic drinks market are A.G. Barr, plc. (U.K.), Dr. Pepper Snapple Group, Inc. (U.S.), Dydo Drinco, Inc. (Japan), Attitude Drinks, Inc. (U.S.), LiveWire Ergogenics, Inc. (U.S.), Calcol, Inc. (U.S.), Danone (France), Nestlé S.A. (Switzerland), PepsiCo, Inc. (U.S.), and The Coca-Cola Company (U.S.) among others.
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