Global Non-alcoholic Drinks Market To Be Driven By Entrance of New Manufacturers
The global non-alcoholic beverages market which was worth US$1,435 billion in 2013 is likely to grow at a 4.3% CAGR between 2014 and 2020 and touch US$1,937 billion by 2020. The progress in the market can be accredited to increased health awareness, the side-effects of alcoholic drinks, and the accessibility of numerous natural drinks.
Currently, people have grown to be health conscious, and thus are eager to expend more on fresh fruit juices, soft drinks, canned fruit juices, tea, coffee, and other non-alcoholic drinks, which provide many health aids. The swelling disposable earnings of people residing in developing economies and the varying consumer standard of living are two of the major factors anticipated to drive the global non-alcoholic drinks market in the coming years.
Apart from this, the perils of water-borne ailments have steered the mounting demand for bottled water. Also, stress is a part and parcel of current lifestyle and tea and coffee are the best alternatives to relieve stress. This assists in the rapid growth of the tea and coffee market. The growing assortments of tea and coffee are giving out many relaxing options for the consumers. Green tea, organic tea, and black coffee are the most popular choices. In addition to these, the demand for dairy drinks is also anticipated to upsurge in the years to come.
Entrance of new makers of non-alcoholic drinks has generated new development prospects owing to the launch of new products. Foremost players are looking for mergers and acquisitions with the new participants to bring together many new non-alcoholic beverages. With mergers and collaborations, the new entrants wish to partake in the competition while, prominent players aim to upsurge their share of contribution in the global market.
Leading players are engaged in introducing new energy drinks for the fitness conscious individuals. Energy drinks have turn out to be a prevalent choice amongst a bigger pool of health-conscious people. With the shifting trends in the drinking behaviors of people, the global non-alcoholic market is projected to reach new landmarks in the coming years. Also, makers of non-alcoholic drinks can anticipate new growth prospects due to the rising government funding and expenditure towards research and development undertakings for the innovation of new products. Undoubtedly, the global non-alcoholic drinks market is one of the wildest growing markets in the global food and beverages industry.
North America is the major market for non-alcoholic drinks. Nevertheless, Asia Pacific is also one of the foremost markets for non-alcoholic drinks. The non-alcoholic drinks market in Asia Pacific was valued at US$ 332 billion in 2013 and is anticipated to be the fastest budding market for non-alcoholic drinks.
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