Non Alcoholic Beer Market Set to Gain Traction on Back of Growing Popularity of New Flavors - FactMR
Global non-alcoholic beer market is projected to witness a strong growth rate of 7% in the foreseeable future during forecast period 2019 - 2027.
The non-alcoholic beer market is receiving impetus from the millennial segment of the population and their willingness to experiment with newer flavors in mixed beers beverages. Growing interest among consumers in ethically and organically sourced products also provides opportunities for ethically traded non-alcoholic beers. The real dollar opportunity in the global non-alcoholic beers industry lies in developing countries that are fast becoming opportunity hotbeds for various global markets
Key Takeaways of Non-Alcoholic Beer Market:
• According to Fact.MR, out of every million dollar spent on non-alcoholic beers, U.S. accounts for over 1/5th of worldwide sales
• Fact.MR says, Asia Pacific is expected to hold a significant share in the global market in the long-term forecast period with a CAGR of ~9.5% between 2019-2027
• Global sales of non-alcoholic beers and alcohol-free mixed beers beverages totaled 4,091 million liters last year in terms of volume. The success story behind these alcohol-free drinks will continue, forecasting sales of 4,353 million liters for 2019
• In Europe, Germany is in the lead with non-alcoholic beers and mixed-beers beverages. The German brewery association's estimated production was 604 million liters for 2018
• Consumption of alcohol-free beers and mixed-beers beverages in 2018, was high in Europe, and Middle East & Africa and opens up a great deal of potential for non-alcoholic beer manufacturers.
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Companies Are Looking To Tap Into Prevailing Trends and Invest In New Product Development to Drive Sales
Manufacturers in the non-alcoholic beers market are emphasizing on customized beverages to target specific age segment (18-34 years) leading to frequent product launches over the last 5 years. The global market for non-alcoholic beers is highly consolidated where the top 10 prominent industry pioneers account for over 3/4th share in the global non-alcoholic beer market.
PR Source- https://www.factmr.com/