Consumption patterns
in developed and developing countries are typically distinct, owing
to a difference in the socio-economic status of consumers here. This
difference is highly visible in the global non-alcoholic drinks
market. A beverage is considered to be ‘non-alcoholic’ if it has
0.5% or less alcoholic content (this ratio is calculated by volume).
For example, beer and wine are available in non-alcoholic variants.
In some countries, non-alcoholic drinks are popularly referred to as
‘virgin’ drinks. Other examples of such beverages are: tea,
coffee, soft drinks, ready-to-drink beverages, energy drinks, and
bottled water.
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Global market
figures indicate growth, both in terms of non-alcoholic drinks market
revenue and volume. However, a closer look at the regional dynamics
reveals that the growth graph of non-alcoholic drinks’ consumption
in developed countries (especially in the United States) and
developing countries is anything but similar. Globally, the
non-alcoholic drinks market is poised to exhibit a compounded annual
growth rate (CAGR) of 4.3% in revenue terms, for the period 2014 to
2020. In the same period, by volume, the market is estimated to grow
at a CAGR of 4.9%.
The State of the
Non-Alcoholic Drinks Market in Developing Economies
In developing
economies, new jobs are being created in developing sectors such as
construction, information technology, utilities, and automotive. The
impact of these new jobs can be felt in the form of increased
disposable income and resultant changes in consumer lifestyle. With
new-found affluence comes demand for novel varieties of food and
beverages. This bodes well for the non-alcoholic drinks market, as an
increased per-capita income is translating into higher consumption of
beverages without alcohol.
In a number of
developing countries, the demand for non-alcoholic drinks is expected
to remain relatively strong in the long run. The presence of millions
of young consumers is an important factor that works in the favor of
the non-alcoholic drinks market. By tailoring products to suit the
local tastes of consumers and launching intelligently-designed market
campaigns, market players can squeeze the most from the non-alcoholic
drinks market globally.
Countries such as
China, Singapore, and India are expected to drive a large chunk of
the overall growth of the non-alcoholic drinks market in the next
five to six years. The CAGR figures of the Asia Pacific region are
estimated to be higher than the global figures.
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Factors Slowing Down
Growth of Non-Alcoholic Drinks in Developed Markets
North America has,
for several years, been the most important region for non-alcoholic
drinks companies. It is the largest market for non-alcoholic
beverages, trailed only by the Asia Pacific region. However, as
consumers in this region become more aware of health issues, and
strive to maintain a healthy lifestyle, there has been a noticeable
dip in the overall demand for non-alcoholic drinks in this region. A
similar trend is being observed in the developed economies of Europe.
Consumers are
clearly moving toward beverages such as bottled water or juices over
sparkling or carbonated drinks. Interestingly, the younger population
in the United States is now showing a decreased inclination toward
beverages that are perceived as being ‘unhealthy’. Because of
this reason, the overall growth prospects of the non-alcoholic drinks
market in the North America region do not seem exciting, but they are
not entirely discouraging. Scope for growth is being observed in
segments that promise to not offer high-calorie, sugar-laden drinks.
Opportunities have thus been created in sectors such as diet drinks
and zero-sugar beverages.
From the global
standpoint, growth in the non-alcoholic drinks market is being
spurred by inherent changes in consumer preferences. Manufacturers,
on their part, have been consistently introducing new product
variants in a myriad of flavors to beat the competition and gain a
wider consumer base. Going forward, the market for non-alcoholic
beverages is expected to constantly remain in a state of change and
growth.
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