Low Alcohol Beverages Market overview:
According to a Comprehensive Research Report by Market Research Future (MRFR), Low Alcohol Beverages Market Research Report Information By Type, By Distribution Channel, And By Region — Market Forecast Till 2030, the market industry is projected to grow from USD 978.75 million in 2022 to USD 1314.20 million by 2030, exhibiting a compound annual growth rate (CAGR) of 4.72% during the forecast period (2022–2030).
The term “low alcohol beverages” refers to alcoholic beverages with little to no alcohol. Low-alcohol beverages may have less calories than alcoholic beverages of ordinary strength, which could help cut calories as part of a balanced diet. The global market for alcoholic beverages will be propelled during the projected period by rising demand for alcohol from developing nations with sizable populations and high disposable income, such as China and India. Reduced alcohol drinks have a lower alcohol level than the average strength of a given type of drink, whereas low-alcohol drinks have an alcohol content by volume (ABV) of between 0.05 and 1.2%. Instead of being labeled as a low-alcohol wine, a bottle of wine with an ABV of 5.5% is a reduced alcohol wine.
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Report AttributeDetailsMarket Size in 2030USD 1314.20 millionCAGR4.72%Base Year2021Forecast Period2022–2030Historical Data2020Forecast UnitsValue (USD million)Report CoverageRevenue Forecast, Competitive Landscape, Growth Factors, and TrendsSegments CoveredBy Type, By Distribution Channel, And By RegionGeographies CoveredNorth America, Europe, Asia-Pacific, and Rest of the World (RoW)Key Market DriversGrowing investment in low alcohol beveragesDrinking with awareness is becoming increasingly popular
Large market players are spending a lot of money on R&D to diversify their product lines, which will drive the demand for low alcohol beverages even further. Market participants are engaging in a variety of strategic activities to increase their presence in conjunction with significant market developments such as new product releases, market developments, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the low-alcohol beverage market must offer reasonably priced goods if they want to thrive and survive in a market that is expanding and getting more competitive.
- Bacardi Limited
- United Breweries Group
- Heineken Holding Nv
- Beam- Suntory
- Anheuser Busch InBev.
- The Brown-Forman Corporation
- Accolade Wines
- Carlsberg Group
- Diageo Plc
- Constellation Brands
The primary factor boosting the market growth for low alcohol beverages is the swift movement in consumer preferences toward premium, inventive, and nutritive low alcohol beverages. Increasing expenditures by manufacturers of low-alcohol beverages to enhance the quality, variety, and flavor of their products are also predicted to favorably affect market growth throughout the forecasted period. Consumer interest in health and wellbeing is anticipated to rise even more, as is consumer knowledge of the harmful effects of binge drinking on one’s health. Over the projected period, these two key variables are anticipated to significantly fuel the market’s growth for low-alcohol beverages. Since all of these factors helped to increase market growth and demand, the need for better high-quality, low-alcohol drinks to support consumers’ health goals has compelled market players to develop new goods. As a result, these factors have recently increased the CAGR of the global market for low-alcohol beverages. Yet, conscious drinking is gaining popularity, and young people aspire to adopt appropriate drinking habits. Another factor boosting the sales of low-alcohol beverages is the use of implants.
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One of the main factors restricting the global market for non-alcoholic beverages is the excessive use of carbonated beverages. During the projection period, it is also anticipated that increasing government taxes on non-alcoholic beverage raw materials, particularly sugar, and strict government regulations on the use of water in non-alcoholic beverage manufacturing will restrain market expansion.
The COVID-19 pandemic epidemic has had a substantial effect on the market’s expansion. Lockdowns and other limitations have been implemented as a result of the deadly coronavirus’s rapid global spread. This caused numerous taverns, eateries, and clubs to close temporarily throughout the world, which had a detrimental effect on market sales. Also, the pandemic’s severe supply chain disruptions and lack of transportation links had a negative effect on the market.
Low Alcohol Beverages Type Insights
In 2021, the market was dominated by the wine sector, and throughout the forecast period of 2022–2030, it is expected to develop at the fastest rate. This is because more individuals are embracing healthier lifestyles and learning about the numerous advantages of these drinks. Young consumers, adults, and women are also showing a lot of interest in these products, which is generating a lot of interest and paving the way for a robust category growth. As a result, the market growth for low alcohol beverages is positively impacted by the growing usage of beer implants in these beverages.
Low Alcohol Beverages Distribution Channel Insights
In 2021, the non-store based category dominated the Low Alcohol Beverages market statistics, and it is anticipated that this segment would develop more quickly throughout the forecast period, 2022–2030. Due to the numerous services and facilities provided to customers, such as the simple availability of different brands, convenient payment methods, and free home delivery, various online shopping platforms have developed quickly. These factors have a significant impact on the segment’s global growth. The low entry barriers for new businesses on this platform and the expanding number of new market participants for low-alcohol beverages who are releasing their goods through various eCommerce platforms like Amazon, Walmart, and eBay are also expected to increase the use of segment marketplaces.
Also, the segment with the quickest growth rate was stored-based. Due to the option to visually inspect items, the availability of a wide assortment of products from numerous multinational businesses under one roof, and a superior shopping experience in comparison to other channels. Numerous large businesses, including Target, Aldi, Walmart, and Whole Foods, focus on expanding their product offerings in areas with minimal alcohol consumption.
The market for low-alcohol beverages in North America, which had sales of USD 408.204 million in 2021, is anticipated to increase at a substantial CAGR over the research period. Due to the significant concentration of developed economies in the area, early uptake of cutting-edge technology, and innovative manufacturing method. It is anticipated that beverage manufacturers in the area will benefit from the exceptional growth in the United States’ market for low-alcohol beverages, which includes a wide variety of flavored and low-alcohol hard seltzers, as well as the growing public awareness of the health risks associated with heavy alcohol use.
The market for low-alcohol beverages in Asia-Pacific is anticipated to expand at the quickest CAGR between 2022 and 2030. The expansion of the regional market for low-alcohol beverages can be attributed to the presence of multiple developing markets, increased consumer disposable income, and a sizable population. The region is predominantly consolidated with a number of developing economies, including those of India, China, Malaysia, and Indonesia because it is simple to get inexpensive labor and raw resources. International market participants are being drawn to the region by expanding government initiatives and efforts to support the low-alcohol beverage market there. Additionally, the Asia-Pacific region’s Low Alcohol Drinks market in India grew at the fastest rate, while the Low Alcohol Beverages market in China had the greatest market share.
The third-largest market share for Low Alcohol Drinks is held by Europe. Customers’ decision to drink less alcohol has raised the demand for low-ABV beer in recent years, which has benefited the local market for low-alcohol beverages. Also, the market for low-alcohol beverages in Germany had the biggest market share, while the market for low-alcohol beverages in the UK had the quickest rate of growth in the continent of Europe.
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