Global non-alcoholic
beverages market size is anticipated to rise significantly on account
of the current trend of health and fitness and the rising inclination towards
healthy beverages. The value of this market was USD 919.13 billion in 2019
and is expected to rise at a CAGR of 8.20% between” 2020 to 2027 to reach USD
1,257.77 billion by the end of 2027.

Increasing Popularity of Refreshment Drinks to Aid in Favor

The
increasing prevalence of various acute and chronic diseases have encouraged
people to adopt a healthy lifestyle. These habits include regular exercise
and fitness and consumption of nutritional food and beverage products. The
rising inclination towards healthy lifestyle and eating habits is the key
factor promoting the global non-alcoholic beverages market growth. In
addition to this, the increasing popularity of refreshment drinks and the
advent of innovative flavors and taste will add a boost to the growth of the
market in the forecast period.

On
the contrary, the fluctuating prices of raw materials to make non-alcoholic
beverages and fluctuation in its availability, especially for seasonal fruits
may cause major hindrance to the market in the coming years.

Nevertheless,
the evolution of e-commerce platforms and the rising production of soft drinks
to suffice to the needs of the consumers are likely to help the market witness
lucrative growth opportunities in the forthcoming years.

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Segmentation-
Carbonated Soft Drinks
Segment Emerged Dominant Owing to its Refreshing Properties

Among
all segments in type, the carbonated soft drinks segment earned 39.80% share in
2019 and emerged dominant. This segment is holding the largest
non-alcoholic beverages market share on account of its refreshing properties
and cost-efficiency.

Regional Analysis-

Asia Pacific Held Largest Shares Attributing to Rising Disposable
Income of People

Among
all regions, Asia Pacific held the largest non-alcoholic beverages market share
in 2019. This is attributable to the increasing modernization and adoption of
western habits among people that resulted in rise in expenditure on beverage
products. On the other side, the North American market earned USD 199.53
billion and will showcase significant growth in the coming years on account of
rising demand for sports drinks and RTD beverages in the region. Besides
this, the Europe market will witness a notable growth on account of the decline
in consumption of alcoholic beverages and increasing popularity of
'better-for-you ”products, thereby promoting the consumption of healthy soft
drinks.

Competitive Landscape-

Coca-Cola Company is Dominating Market Attributing to Continuous
Innovations

The
global market for non-alcoholic beverages is consolidated in nature on account
of the presence of a handful of players holding major shares such as Nestle SA,
The Coca Cola Company, and PepsiCo Inc. Among these, the market is dominated by
the Coca- Cola Company accounting to the continuous innovations in their
beverage products. This includes VitaminWater range, probiotic drinks,
fermented drinks, and RTD beverages, among others. In March 2019, this
company launched a new drink of Jaljeera flavor into the Indian
market. Other players operating in this market are engaging and investing
heavily on innovative product launches to gain a competitive edge in the market
competition. Some others are engaging in collaborative efforts such as
agreements and contracts, joint ventures, and partnerships,

Key Industry Developments:

December 2019 - The launch of a greenhouse
accelerator program in 2020 was announced in North America by PepsiCo Co. to
help smart startup companies provide the base for following up with the current
trends in the non-alcoholic beverage segment and earn a position in the market
competition.