Dubai, UAE, March 12, 2020 (GLOBE NEWSWIRE) -- Global non-alcoholic wine market will witness projected CAGR of more than 7% during 2019-2027 forecast period. The wine industry is undergoing a transition in view of growing preference for healthier beverages. Moreover, alcoholic beverages are banned in numerous countries such as Kuwait, Saudi Arabia, Brunei, Bangladesh and certain states of India. Hence, production of non-alcoholic wine will unlock new growth avenues through 2029, reveals Fact.MR.
“Augmented demand for non-alcoholic wine in Middle Eastern countries such as Kuwait and UAE will propel the market growth. The key consumer demographic for non-alcoholic wine are athletes and pregnant women. The health implications associated with consumption of alcoholic beverages continues to shift the consumers’ preferences,” concludes the Fact.MR report.
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Non-alcoholic Wine Market: Key Takeaways
- Consumption of alcohol-free wine as sports drink is witnessing increasing adoption among athletes.
- Europe accounts for 40% share in global non-alcoholic wine market owing to well-established wine markets.
- North America will be a significant growth contributor of non-alcoholic wine market.
- Online stores continue to be preferred distribution channel for non-alcoholic wine.
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Key Driving Factors
- Non-alcoholic wine continues to be a popular beverage category in light of rising health and wellbeing trends.
- High per capita consumption of consumers in developed countries is propelling the demand for non-alcoholic wine.
- Rise of e-tailing and ecommerce is contributing to the sales of non-alcoholic wine.
- Escalating investments in supermarket chains is projected to inflate the non-alcoholic wine sales.
Key Constraints
- Availability of other non-alcoholic beverages such as non-alcoholic beer is hampering the market growth.
- Consumers’ apprehensions regarding the health benefits of non-alcoholic wine is a major roadblock to market growth.
Competitive Landscape
Key players profiled in this Fact.MR study include, but are not limited to, Castel Frères, E & J Gallo Winery, McGuigan, and Treasury Wine Estate. Leading wine houses are diversifying their product portfolio by launching non-alcoholic beverages. This move continues to boost their profitability margins throughout the forecast period.
About the Report
This 170-page study offers readers with comprehensive market forecast on the non-alcoholic wine market. Global, regional and country level analysis of the latest industry trends impacting the non-alcoholic wine market are covered in this Fact.MR study. The report offers compelling insights on non-alcoholic wine market on the basis of product type (still wine, sparkling wine), packaging (bottles, cans), alcohol concentration (alcohol free, low alcohol), distribution channel (liquor stores, online stores, supermarkets, convenience stores, restaurant & bars, travel retail, tasting rooms) across five regions (North America, Latin America, Middle East & Africa, Asia pacific, Europe).
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About Fact.MR
Expert analysis, actionable insights, and strategic recommendations of the veteran research team at Fact.MR helps clients from across the globe with their unique business intelligence requirements. With a repository of over thousand reports and 1 million+ data points, the team has scrutinized the food & beverages sector across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Fact.MR's latest Beverage industry market reports and industry analysis help businesses navigate challenges and take critical decisions with confidence and clarity amidst breakneck competition.
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