In 2023, the worldwide Low-Alcohol Beverages Market is expected to be worth $800 million. Furthermore, global sales of low-alcohol drinks are expected to reach US$ 1.2 billion by 2033, growing at a CAGR of 4.5% through 2033.The increased intake of alcoholic beverages in recent years has resulted in a slew of health problems. As a result, more companies are manufacturing low-alcohol drinks. Furthermore, rising public awareness of the availability of low-alcoholic or non-alcoholic beverages is fueling growth potential in the global market.
To attract more customers, market participants are focusing on innovative development approaches such as package styles. Furthermore, the rise and development of food-based e-Commerce platforms are leading to increasing product sales.
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The growing number of health-conscious citizens in industrialized countries throughout the world is driving up demand for low-alcohol beverages. Furthermore, the trend of lowering the alcohol level of various beverages, as well as the reduction of hard liquor in celebrations and social events, is expected to boost product demand.
Industry participants are concentrating on producing a wide range of alcoholic beverages with reduced alcohol content that also have an increased feel and flavor. Furthermore, producers are responding to people’s preference for nutritious drinks. They provide healthful drinks while also addressing the public’s requests based on emotions and events.
Competitive Landscape:
Different methods are being implemented by industry players in order to achieve a competitive advantage in the market.
As an example:
Budweiser brewer AB InBev began preparations in May 2022 to meet its target of producing 20% of its total volume of beer with low or no alcohol. The corporation intends to meet its target by the end of 2028. In an interview at the World Economic Forum in Davos, the corporation stated that it can achieve little more than 6% of its total objective.
Through this program, the corporation is assisting the WHO in its goal of reducing the use of dangerous beverages such as alcoholic beverages. Excessive alcohol use is to blame for chronic ailments, vehicle accidents, and congenital defects.
Key Players:
- New Belgium Brewing Company
- Bacardi Ltd.
- Constellation Brands, Inc.
- Jack’s Hard Cider
- Red Truck Beer Company
- Vitis Industries
- Sierra Nevada Brewing Co.
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Regional Analysis:
With increased demand for alternatives to traditional alcoholic beverages, the European market is expected to expand. Furthermore, people are choosing numerous strategies to minimize their alcohol use, which has increased demand for low-alcoholic beverages.The German market is expected to grow at a 1.9% CAGR through 2033 as a result of increased product development and growing acceptance of healthier drinks.
Because of the early acceptance of soda goods and the existence of developed countries, North America has a sizable portion of the worldwide market. Because of the existence of important producers such as the Coca-Cola Company and PepsiCo, the United States market leads the regional market.
Key Segments of Industry:
- By Type :
- Beer
- Wine
- RTD
- Cider
- Spirits
- By Distribution Channel :
- Supermarkets & Hypermarkets
- Convenience Stores
- Specialty Stores
- Online Retail
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