The non-alcoholic malt beverage market CAGR is anticipated to be around 6.7% through 2033. The market is expected to develop steadily between 2023 and 2033, with market value rising from US$ 32.7 billion in 2023 to US$ 62.7 billion by 2033.
The key forces behind this development are the rising acceptance of sober socializing and the need for better beverage substitutes. Due to shifting consumer preferences and healthier lifestyles, the market for non-alcoholic malt beverages is considerably growing.
The market confronts obstacles, including poor awareness in some areas, which leads to reduced penetration. Manufacturers may use possibilities like combining natural and organic products, which most customers prefer and developing creative flavors and varieties to appeal to a larger consumer base to get around these limitations.
A platform for market development can also be provided through partnerships with restaurants and cafés that allow non-alcoholic malt drinks to be served on their menus. The market for non-alcoholic malt beverages is expected to increase significantly over the coming years, driven by consumer tastes and the industry’s capacity to overcome obstacles and take advantage of possibilities.
The non-alcoholic malt beverages market exhibits strengths such as growing consumer demand for healthier alternatives to alcoholic beverages. It also faces weaknesses like limited awareness and a niche consumer base. Opportunities lie in innovation, product expansion, and capturing untapped markets. Nonetheless, the market is not without threats, including intense competition, regulatory challenges, and potential consumer skepticism toward the taste and quality of non-alcoholic malt beverages.
Key Takeaways
- In the United States, the market grew at a CAGR of 19% in 2022 during the forecast of 2022 in the Global Market.
- Due to rising health consciousness, China’s non-alcoholic malt beverage market is predicted to rise at a CAGR of 6.7% by 2033.
- India’s non-alcoholic malt beverage industry is expected to develop at a 12.3% CAGR by 2033.
- The United Kingdom is likely to register a CAGR of 6.8% by 2033 with the growing trend of sober socializing.
- Japan’s market grew at a compound annual growth rate of 4.3% in 2022.
Competitive landscape
Several important competitors in the market for non-alcoholic malt beverages are actively involved in meeting the rising customer demand. Companies with broad product portfolios and substantial distribution networks dominate the industry, such as ABC Drinks, Halewood Wines & Spirits, and Erdinger Brewery.
These firms are concentrating on product innovation and offering new flavors and varieties to appeal to a more extensive customer base. To improve their position in the non-alcoholic malt beverage sector, they are also growing their market presence through strategic alliances, partnerships, and acquisitions.
Recent Developments:
- The non-alcoholic malt beverages market has experienced a surge in consumer demand due to health consciousness and a desire for alcohol alternatives.
- Companies are investing in research and development to introduce innovative non-alcoholic malt beverages with natural ingredients, enhanced flavors, and appealing packaging.
- Key players in the market are expanding their product portfolios by introducing new variants and line extensions to cater to diverse consumer preferences and increase market competition.
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Global Non-alcoholic Malt Beverages by Category
By Type, Global Non-alcoholic Malt Beverages are segmented as:
- Dairy-based Beverages
- Carbonated and Soda Drinks
By Flavor, Global Non-alcoholic Malt Beverages are segmented as:
- Citrus
- Berry
- Pomegranate
- Classic/ Natural
- Apple
- Peach
- Mixed Fruit
- Coffee/Cocoa
- Others (vanilla, tea, etc.)
By Packaging, Global Non-alcoholic Malt Beverages is segmented as:
- Bottles
- Cans
- Liquid Cartons
By Distribution Channel, Global Non-alcoholic Malt Beverages is segmented as:
- Direct
- Indirect
- Hypermarkets/Supermarkets
- Specialty Stores
- Convenience Stores
- Discount Stores
- Independent Retailers
- Online Retailers
By Region, Global Non-alcoholic Malt Beverages is segmented as follows:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa
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