Nonalcoholic Drinks Market Report, forecasts that the global market was valued at $1,548 billion in 2015, and is estimated to reach $2,090 billion by 2022, growing at a CAGR of 4.4% from 2016 to 2022. The soft drinks segment is expected to retain its dominant position, in terms of revenue generation during the forecast period. The Asia-Pacific region held the leading position in the global market in 2015, and is expected to maintain its lead in the future.
The market is expected to witness notable growth in the near future, owing to rise in urbanization and increased disposable income in the emerging countries. Moreover, change in lifestyle patterns toward healthy functional food and increase in prevalence of diseases due to unhealthy lifestyle escalate the demand for nonalcoholic beverages. Furthermore, the impact of increase in awareness of health and wellness among consumers and millennial generation are expected to increase the demand for nonalcoholic beverages. In addition, broad range of preferences and innovative packaging also play pivotal role in the market growth.
Some of the major restraints associated with the market are stringent government regulations associated with sugary drinks, additives, and preservatives causing hazardous health effects such as obesity, diabetes, and high blood pressure. However, several companies have launched sugar-free drinks and diet & low caffeine content drinks due to advancements in R&D activities. Furthermore, companies develop organic drinks with natural preservatives and additives. For instance, Blue Sky Beverage Co. manufactures natural beverages without preservatives or artificial colors or flavors. These new developments are projected to propel the market growth during the forecast period.
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Based on the product type, the market is segmented into tea & coffee, juices, bottled water, dairy drinks, soft drinks, and others. In the year 2015, the soft drink segment generated highest revenue and accounted for almost half of the total market share.
Key findings of the non-alcoholic drinks market:
The Asia-Pacific region is expected to continue to lead the global nonalcoholic beverages market.
The bottled water segment occupied almost one-fourth share of the total market value in 2015.
China is expected to witness highest CAGR of 9.2% during the forecast period.
U.S. is the largest country in terms of demand and supply for nonalcoholic drinks in 2015.
Geographically, the market is segmented into North America, Europe, Asia-Pacific, and LAMEA. In the year 2015, Asia-Pacific generated highest revenue in terms of value and volume and expected to maintain its dominant position during the forecast period.
The nonalcoholic drinks market is highly fragmented with the presence of large number of domestic players. The Coco Cola Company acquired major market share in 2015. It was expected to increase due to its innovation in development of new drinks and packaging to attract consumers such as, Red Disc packaging for Coke, Diet Coke, Coke Zero, and Coca-Cola Life. Furthermore, Coco Cola Company strategies such as partnership with restaurant chains such as McDonalds is projected to secure its market share in the near future. The major companies profiled in the report include A.G. Barr, Dr. Pepper Snapple Group, Dydo Drinco, Attitude Drinks, Co., Livewire Energy; Calcol, Inc., Danone, Nestl S.A., PepsiCo, Inc., and the Coca-Cola Company.
Nonalcoholic drinks, also known as virgin drinks, mocktails and near beer, refer to the beverages which comprise less than 0.5% of alcohol content by volume. Nonalcoholic drinks market encompasses a wide range of refreshment beverages, including energy drinks, juices, soft drinks, coffee & tea, bottled water, and probiotics.
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The beverage industry has faced spectacular transformation in consumer preferences during a past decade. Consumers demand toward maintaining health and wellness and functional beverages has impact on the market. In addition, new compelling products with unique flavors and innovative packing by companies are expected to fuel the market growth. Furthermore, increase in disposable incomes in emerging economies has increased the adaption of nonalcoholic drinks. However, rise in awareness of obesity due to beverages with high-calorie sweeteners hinders the market growth. Apart from this, the introduction of tax on soft drinks has hampered the market growth.
The huge market potential for diet and zero sugar drinks is projected to be observed for nonalcoholic drinks market during the forecast period. Moreover, introduction of newly launched drinks such as super premium juices, premium hydration, probiotics/kombucha, and craft soda to meet consumers demand of low calories, organic, high-quality, functional, and delicious drinks is expected to be an evolving landscape for the nonalcoholic drinks market in future.
The nonalcoholic drinks market is segmented based on the product type and geography. By product type, the market can be segmented into tea & coffee, energy drinks, juices, bottled water, dairy drinks, and soft drinks. Geographically, the market is segmented into North America, Europe, Asia-Pacific, and LAMEA.
Recent advancements in the market include development of a wine alternative range by Belvoir Fruit Farms in 2016, to mimic the sensation of drinking wine but without alcohol. Similarly, in November 2016, Koia has launched 100% plant-based protein drink. Across the industry, companies are launching new products to increase their presence in the global market.
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