Health-conscious Consumers Likely to Favor Non-alcoholic Malt Beverages
With time a larger section of consumers are realizing the benefits of non-alcoholic beverages. This paradigm shift from alcoholic beverages to dairy-based alternatives or carbonated soda drinks is attributable partly to product innovations brought about by leading brands.
As consumers get more health conscious, leading companies are compelled to offer healthier alternative to their favorite food and drink. Given the scenario, the market for non-alcoholic malt beverages is expected to expand in the coming years, especially with them gaining popularity in regions such as the Middle East.
Urbanization Opens Growth Opportunity in Asia Pacific
The rate of urban population and GDP growth is rapidly rising, creating lucrative markets for conspicuous consumer goods in Asia Pacific and MEA. Rapid urbanization entails that people spend more time on-the-go and lesser time at home. Hectic lifestyle of consumers has tipped scale in favor of convenient product sales.
As an increasing number of consumers look for innovative products that would help them unwind from their stressful lives, the demand for non-alcoholic beverages will rise. While there is steady demand for non-alcoholic malt beverages in developed regions such as North America and Europe, soon they are likely to penetrate deeper into the developing countries as well.
Consumer’s Willingness to Spend on Conspicuous Items Spurs Growth
Non-alcoholic malt beverages have become conspicuous items for consumers who often spend in them to make a statement of higher-living standard. This apart, the obvious health benefits of non-alcoholic malt-beverages such as dairy based alternatives will stoke their sales worldwide. As consumers across the world seek out a healthier lifestyle, snubbing alcohol during parties and celebrations, non-alcoholic malt beverages will emerge as favorites.
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How Growth will Unfold
While non-alcoholic malt beverages market may do well in certain fronts, it may face difficulty in penetrating into certain markets. For instance, in several emerging nations, sales forecast continue to favor alcoholic drinks. This poses threat to non-alcoholic malt beverage makers.
Moreover, these beverages often have to face the brunt of their reputation through criticism such as “serving fizzy and yellow water” in lounges and bars. Nonetheless, in the coming years, the market would witness a steady rate of growth backed by the rate of urban population and GDP growth. As per experts this could offset most restraints positively affecting the non-alcoholic malt beverages market.
FREQUENTLY ASKED QUESTIONS ABOUT NON-ALCOHOLIC MALT BEVERAGES MARKET
What drives non-alcoholic malt beverages market?
Rising health consciousness among consumers, coupled with innovations launched by leading companies, will boost the non-alcoholic malt beverages market. The market is also expected to gain from the increasing spending power of consumers.
Which type of non-alcoholic malt beverage is more popular among consumers?
Consumers exhibit a higher demand for carbonated and soda drinks. However in the coming years the demand for dairy-based beverages will rise at a higher rate.
Which flavour of non-alcoholic malt beverages appeals most to consumers?
While consumers currently show inclination for classic flavours, in the coming years the demand for apple and berries flavoured non-alcoholic malt beverages is expected to rise.
Who are some of the leading brands offering non-alcoholic malt beverages?
Some of the leading brands are:
- Nestlé S.A.
- Royal Unibrew A/S
- United Dutch Breweries B.V.
- Radeberger Gruppe KG
- Holsten Brauerei AG
At what rate will the non-alcoholic malt beverages market rise?
The global non-alcoholic malt beverages market is expected to rise at a CAGR of 4% between 2019 and 2028, reaching US$ 37,209.8 Mn by the end of 2028.
NON-ALCOHOLIC MALT BEVERAGES MARKET TAXONOMY
The report segments the global non-alcoholic malt beverages market in detail to present an executive-level blueprint to the reader
- Carbonated & Soda Drinks
- Hypermarkets/ Supermarkets
- Convenience Stores
- Discount Stores
- Specialty Stores
- Liquid Cartons
- Classic/ Natural
- Mixed Fruit
- Coffee/ Cocoa
- North America
- Latin America
- Eastern Europe
- Western Europe
- Asia Pacific Excluding Japan