New York, Aug. 02, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Non-Alcoholic RTD Beverages Global Market Report 2023" - https://www.reportlinker.com/p06479882/?utm_source=GNW
, Reeds Inc., Starbucks Corporation, Lotte Chilsung Beverage Co.Ltd., Pokka Sapporo Food And Beverage Ltd., Yakult Honsha Co. Ltd., and Califia Farms LLC.
The global non-alcoholic RTD beverages market is expected to grow from $944.87 billion in 2022 to $1012.52 billion in 2023 at a compound annual growth rate (CAGR) of 7.16%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, and affecting many every markets across the globe. The market is expected to reach $1282.56 billion in 2027 at a CAGR of 6.09%.
The non-alcoholic RTD beverage market consists of sales of nourishing drinks, sports energy drinks, fortified water, juice drinks, and hot drinks.Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Non-alcoholic RTD beverages refers to ready to drink beverages that are free from alcohol.These drinks hydrate, and some offer vital nutrients and vitamins that the body requires.
These drinks are widely available in bars, restaurants, hotels, and beverage stores.
Asia-Pacific was the largest region in the non-alcoholic RTD beverages market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the non-alcoholic rtd beverages market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of products in non-alcoholic RTD beverages are functional beverages, tea and coffee, fruits and vegetable juice, bottled water, dairy-based beverages, and others.Functional beverages refer to nonalcoholic drinks that provide health advantages above and beyond their nutritional value by focusing on the body or mind in a positive way to improve overall health and wellbeing.
These are packed in various packaging materials such as bottles, cans, and others, and are distributed through supermarkets and hypermarkets, specialty stores, convenience stores, online retail, and others.
Surging demand for non-alcoholic beverages is expected to propel the growth of the non-alcoholic RTD beverage market going forward.A non-alcoholic beverage refers to a drink that does not contain alcohol.
Nowadays, consumers prefer non-alcoholic beverages in favor of alcoholic ones as they seek to improve their health.Non-alcoholic beverage manufacturers are producing a wide range of ready-to-drink non-alcoholic beverages that improve physical health and mental well-being, hydrate them, and offer vital nutrients and vitamins, so these factors boost the non-alcoholic RTD beverage market.
For instance, in December 2022, according to the United States Department of Agriculture (USDA), a US-based federal agency, non-alcoholic beverage export sales from the US totaled $11.4 million in 2021 and increased to $13.6 million in 2022, a 20 percent increase. Therefore, surging demand for non-alcoholic beverages is driving the non-alcoholic RTD beverage market.
Product innovation is a key trend gaining popularity in the non-alcoholic RTD beverage market.Major companies operating in the non-alcoholic RTD beverage market are developing innovative products to strengthen their position in the market.
For instance, in April 2023, Chamberlain Coffee, a US-based organic coffee manufacturer, launched a new line of ready-to-drink (RTD) plant-based Cold Brew Lattes.These innovative product flavor line-ups include a mocha latte, a cinnamon bun latte, a vanilla latte, and a traditional cold brew.
Each of the four flavors is dairy-free, prepared with almond milk and coconut cream, and naturally sweetened with no preservatives and no artificial colors, flavors, or sweeteners. Additionally, it contains date syrup, which contains only 1 gram of sugar per serving.
In January 2023, Lucas Bols N.V., a Netherlands-based beverage company, acquired Fluere Drinks B.V. for $1.05 million (€1 million). With this acquisition, Lucas Bols N.V. aimed to boost the brand’s presence among bartenders and on-trade, as well as strengthen its retail position and accelerate its variety of productions to serve customers. Fluere Drinks B.V. is a Netherlands-based non-alcoholic beverage company that offers a wide range of non-alcoholic drinks.
The countries covered in the non-alcoholic rtd beverages market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resale along the supply chain, either further along the supply chain or as part of other products.
The non-alcoholic RTD beverages market research report is one of a series of new reports that provides non-alcoholic RTD beverages market statistics, including non-alcoholic RTD beverages industry global market size, regional shares, competitors with a non-alcoholic RTD beverages market share, detailed non-alcoholic RTD beverages market segments, market trends and opportunities, and any further data you may need to thrive in the non-alcoholic RTD beverages industry. This non-alcoholic RTD beverages market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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