Newark, Nov. 08, 2022 (GLOBE NEWSWIRE) — According to The Brainy Insights, the soft drink market is growing at a CAGR of 5.8% from 2022 to 2030. Changing consumer trends and growing awareness to health are driving demand for the non-alcoholic beverage market. Millennials and Gen Z have focused on non-alcoholic beverages as most consumers try to cut back on alcohol due to its negative impact on the mind and body in the long run.
Demand for natural, organic, non-GMO, gluten-free and sugar-free beverages has increased in the category including juices, RTD coffee and tea, and non-alcoholic beer. This has propelled product innovation in all of these product segments. Furthermore, the growing demand for vitamin and mineral fortified bottled water is expected to drive the market growth over the forecast period.
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RTD tea and coffee beverages are experiencing several product launches and innovations. For example, in July 2022, Dilmah launched RTD bottled iced tea in Malaysia. It is made from Ceylon leaves and honey with no added preservatives. Additionally, the tea is high in antioxidants and low in calories, and appeals to health-conscious consumers.
Increase in online shopping among consumers owing to easy browsing of various products from the comfort of home, hassle-free door-to-door delivery and exchange, multiple payment methods and discount offers is expected to increase the purchase of non-alcoholic beverages through e-commerce sites both D2C and third-party platforms like Amazon, Nature’s Basket, Carrefour, Lazada and others.
The soft drinks market is a mature market with many multinational players, however, consumer trends for healthier version of drinks have shaped the growth of this market. Thus, manufacturers are launching various product variations to meet the changing needs of consumers. For example, in August 2022, ió fibrewater introduced prebiotic infused water to the UK. The water has been developed to provide 20% of the daily recommended dietary fiber intake.
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Key players
1. The Coca-Cola Company
2. Nestle
3.Starbucks
4. PepsiCo
5. SUNTORY HOLDINGS LIMITED
6.Unilever
7. Keurig Dr Pepper Inc.
8. Capri Sun SA
9. Cott Corporation
10. Danon
11.Asahi Group Holdings, Ltd.
12. Ocean Spray
13. National Beverage Company.
14. Gerolsteiner Brunnen GmbH & Co. KG
Market segmentation
• Product information
o Bottled water
o Soft drinks
o RTD tea and coffee
o Juice
o Others
• Information on distribution channels
Retail
o Hypermarkets & Supermarkets
on line
o Others
o Food service
Regional outlook
o North America
o United States
Canada
Mexico
o Europe
o Germany
Great Britain
o France
o Italy
o Spain
o Asia-Pacific
or Chinese
o Japan
india
o South Korea
o Australia
o Central and South America
o Brazil
Argentina
o Middle East and Africa
o South Africa
of the UAE
o Saudi Arabia
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About the report:
The market is analyzed on the basis of value (USD billion). All segments have been analyzed at global, regional and country level. The study includes analysis of more than 30 countries for each part. The report analyzes the drivers, opportunities, restraints and challenges to gain a critical overview of the market. The study includes Porter’s five forces model, attractiveness analysis, product analysis, supply and demand analysis, competitor position grid analysis, distribution and marketing channel analysis.
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