Non-alcoholic Beverages Market Size to Reach $1,257.77 Billion by 2027: Increasing Popularity of Refreshment Drinks to Bode Well for Market

The global non-alcoholic beverages market size is anticipated to reach USD 1,257.77 billion by the end of 2027 accounting to the rising inclination towards healthy eating and drinking habits. As per a Fortune Business Insights report titled, “Non-alcoholic Beverages Market Size, Share & COVID-19 Analysis, By Type (Carbonated Soft Drinks, RTD Coffee & Tea, Bottled Water, and Fruit Beverages), Distribution Channel (Supermarket/ Hypermarket, Food Services Sector, Convenience Stores, Specialty Stores, and Online Retails), and Regional Forecast, 2020-2027,” the value of this market was USD 919.13 billion by 2019 and is expected to exhibit a significant CAGR of 8.20% between 2020 and 2027.

Coca Cola Company’s New Black Grape Flavored Drink will set New Industry Benchmark

In February 2019, the Coca Cola Company India launched a new sparkling drink of grape juice flavor in Tamil Nadu market. The name of this drink is Minute Maid Color and is specially developed for consumers in Tamil Nadu as its residents are more inclined to this flavor. The Coca Cola Company has always focused on consumer preferences and now with the positive outcome of this new grape juice flavor, it aims at offering innovative products in the days to come.

The President of the company managing the South West Asia and Indian region, T. Krishna Kumar said, “The people of Tamil Nadu have a taste for grape flavored beverages. Our key strategy is to analyze the results derived from region-specific beverages and accordingly introduce locally popular flavored beverages as per various regions to gain more revenues.” This initiative has not only set a higher benchmark for other non-alcoholic beverage manufacturers but will also aid the expansion of the market in the coming years.

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/industry-reports/non-alcoholic-beverages-market-101927

Variations in Product Flavors will Bode well for Market Growth

The rising inclination towards health and fitness stands as a key factor boosting the global non-alcoholic beverages market growth. The rising inclination towards soft drinks, fruit juices, and other non-alcoholic beverages will add impetus to the market. In addition to this, the rising e-commerce platform and availability of a variety of beverage types and flavors are also attracting high revenues to the market.

On the contrary, factors such as the fluctuating prices of raw materials and the risks such as sustainability issues may pose a major threat to the market in the coming years. Nevertheless, increasing efforts by players to introduce innovative flavors in non-alcoholic beverage products will help attract high revenues to the market in the coming years.

Several Vendors Investing in New Flavored Products to Stay Put in Market Competition

Currently, the Coca Cola Company is dominating the market on account of its wide geographical presence and continuous innovations in their product portfolio. The other players are engaging in mergers and acquisitions, joint ventures, and others to gain a notable position in the market competition.

Some Industry Developments of Non-alcoholic Beverage Market include:

• December 2019 –  PepsiCo Inc., declared the launch of a new program called the greenhouse accelerator program 2020 for helping new entrants of the non-alcoholic beverages industry enter the North American market.

List of  Key Players in the Market include:

• ITO EN Ltd (Tokyo, Japan)
• Dr. Pepper Snapple Group, Inc. (Texas, U.S.)
• The Coca-Cola Company (Georgia, U.S.)
• Appalachian Brewing Co. (Harrisburg, U.S.)
• PepsiCo, Inc. (New York, U.S.)
• Monster Beverage Corp (California, U.S.)
• Nestle S.A. (Vevey, Switzerland)
• Arca Continental SAB de CV (Monterrey, Mexico)
• The Kraft Heinz Company (Chicago, U.S.)
• Reed’s, Inc. (Norwalk, U.S.)
• Others

Further Report Findings

• Asia Pacific dominated the market in 2019 on account of the improving living standards of people, increasing disposable incomes of people, and the increasing adoption of healthy drinks.
• Among all segments in type, the carbonated soft drinks section earned 39.80% and accounted for the largest non-alcoholic beverage market share. Growth of this region is accountable to the cost-efficient rates.

The Global Market is categorized into: