A new report published by Allied Market Research titled, “Non-alcoholic Drinks Market – Global Opportunity Analysis and Industry Forecast, 2014-2022,” projects that the global nonalcoholic drinks 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.
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The major companies profiled in the report are:
Dr. Pepper Snapple Group Dydo Drinco,
Attitude Drinks, Co.
The Coca-Cola Company.
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.
According to Eswara Prasad, Team Lead, Chemical & Materials at Allied Market Research, “Government regulations associated with alcohol beverages, and growth in disposable income in the emerging economies are the prime factors resulting in significant growth in demand for nonalcoholic beverages. However, rise in awareness toward adverse health impacts due to excessive intake of drinks is projected to hamper the market growth during the forecast period.”
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.
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Geographically, the market is segmented into:
*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.
Key findings of the study:
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