According to the latest research by InsightAce Analytic, the global low & no alcohol beverages market is valued at US$ 22.5 billion in 2021, and it is expected to register a CAGR of 14.0% during a forecast period of 2022-2030. Beverages comprising little or no amount of alcohol are defined as low & no alcoholic beverages. Over the last few years, The Low and no alcoholic beverage industry witnessed rapid growth. With the increased market focus on health and wellbeing, it is projected that the non-alcoholic beverage market will be a source of growth and development in the coming years. Moreover, Low & no alcohol beverages along with a balanced diet and exercise may help in maintaining a healthy weight. The market and product range are diversifying into beers, lagers, stouts, Still and Sparkling Wine, and even some mixed spirits.
The growth of Low & No Alcohol Beverages the market can be attributed to a shift in consumption patterns towards healthier drink alternatives. The industry is also expected to exhibit remarkable growth over the forecast period owing to Increasing concerns regarding obesity and health awareness. Moreover, the introduction of functional drinks, favorable government policies along with the growing number of innovations across the beverage sector are expected to create growth opportunities for low & no alcohol beverages manufacturers. On-going R&D activities for developing a product based on customer's dynamic needs is further anticipated to show significant market growth during the forecast period.
The global Low & No Alcohol Beverages market is categorized on the basis of product, end-user, and region. On the basis of product type, the market is segmented into Beer, Still and Sparkling Wine, Mixed Drinks, Spirits (liqueurs), Spirits (non-liqueurs), and others. On the basis of End-use, the market is segmented into Liquor Stores, Convenience Stores, Supermarkets, Online Stores, Restaurants & Bar, and others. Based on region, the market is studied across North America, Asia-Pacific, Europe, and LAMEA. Among that, Europe held the largest share of the market, followed by America and the Asia Pacific. On the other hand, Asia-Pacific is expected to dominate the market during the analysis of the forecast period.
The key players of this market include Anheuser-Busch In Bev, Asahi Breweries, Ltd., Athletic Brewing Company, Beam Suntory, Inc., Big Drop Brewing Co. Ltd., Carlton & United Breweries, Chr. Hansen Holding A/S, Curious Elixirs, Floreat Wines, Gnista Spirits, Kirin Holdings Company, Limited. Lagunitas Brewing Company, Lowlander Beer Co., Hoplark HopTea, Mocktail Beverages, Inc., and Other Prominent Players.
