Rockville , Oct. 08, 2023 (GLOBE NEWSWIRE) -- As per Fact.MR, a provider of market research and competitive intelligence, the global zero proof spirit market is likely to rise at a CAGR of 10% and is expected to reach a value of US $271 Mn by the end of 2033.
Zero-proof spirits are non-alcoholic beverages that mimic the taste and experience of traditional alcoholic drinks. They're a healthier option, as they don't have the negative health effects associated with alcohol. They're lower in calories, don't cause hangovers, and are safe for driving. They're inclusive, suitable for various social occasions, and align with mindful drinking trends. Zero-proof spirits are versatile for making cocktails and comply with legal restrictions.
Get Free Sample Copy of This Report:
https://www.factmr.com/connectus/sample?flag=S&rep_id=8848
The growth of the zero-proof spirit market is primarily driven by the rising trend of health-conscious and mindful drinking. Consumers, especially younger generations, are seeking alternatives that provide the taste and experience of alcoholic beverages without the associated health risks. Creating non-alcoholic beverages that replicate the taste and quality of traditional alcoholic drinks can be a significant challenge. Achieving a balance between flavor, aroma, and mouthfeel without alcohol is crucial to winning over customers.
| Report Attributes | Details |
| Value Projection (2033) | US$ 271 Million |
| Growth Rate (2023-2033) | 10% CAGR |
| No. of Pages | 170 pages |
| No. of Tables | 48 Tables |
| No. of Figures | 144 Figures |
Key Takeaways:
- US Zero-proof spirit market is expected to witness a CAGR of 7.8% during the forecast period. Moreover, North America is expected to be the prominent shareholder in the market.
- In China, the market is expected to grow at 10% during the forecast period.
- By category, Zero-proof whiskey is expected to witness a significant demand with a CAGR of 9.7% and is expected to grow at a CAGR of 8.9% during the forecast period.
The surge in demand for health-conscious and mindful drinking options, legal constraints on alcohol consumption in specific contexts, and an increasing consumer preference for inclusivity in social gatherings are some key factors driving the market- Says FACTMR Expert
Key Companies Covered in This Report
- Arkay Beverages Inc.
- Ritual Zero Proof
- Optimist Botanicals
- Cut Above Spirits
- Ghia
- Strykk
- Drink Monday
- Ceder’s.
- Rasasvada LLC.
- Svami
- Sober
- Pentire Drinks
Market Competition
The surge in health-conscious drinking has led to intense competition in the zero-proof spirits market, attracting numerous companies to cater to the growing demand for non-alcoholic options. Notable market players of the market include la Martinique, Rheinland Distillers GmbH, Escape Mocktails, Everleaf Drinks, Lyre's Spirit Co, Diageo plc., Spirits of Virtue, Spiritless Inc., and Drink Monday.
- In September 2021, Diageo, the global leader in spirits production, introduced "Lunya," a novel alcohol-free spirit crafted from a fusion of botanicals. This release is tailored to meet the rising demand from consumers who are opting for lower-alcohol or alcohol-free options.
- In May 2021, Arkay Beverages unveiled a new alcohol-free vodka crafted from non-GMO corn. This addition further enriches the company's range of non-alcoholic spirits, which already encompasses alternatives to whiskey, gin, and tequila.
Winning strategies
- Introducing limited-time or seasonal flavors in the market can be a smart move. It makes customers feel special and excited to try something new. This sense of exclusivity encourages them to buy again. It also boosts brand loyalty as happy customers are more likely to explore other products.
- In this industry, highlighting the use of functional ingredients like adaptogens and herbal extracts can really catch the attention of health-conscious consumers. These ingredients offer potential health benefits, such as stress relief and digestive support.
- Leading players should focus on the food service industry. They can offer non-alcoholic options for cocktails on restaurant and bar menus, and even as ingredients in dishes. This opens a new market and caters to the growing demand for enjoyable non-alcoholic experiences.
Get Customization on this Report for Specific Research Solutions:
https://www.factmr.com/connectus/sample?flag=RC&rep_id=8848
Analysis by Country
Zero Proof Spirits Market Research in the United States:
With an absolute dollar increase of US$ 45 billion from 2023 to 2033, the market in the United States is predicted to increase in value to US$ 89 million by 2033. From 2018 to 2022, the market in the United States grew at a CAGR of 8.4%, and from 2023 to 2033, a CAGR of 7.8% is anticipated.
Over 200,000 liters of zero proof spirits were produced in the US in 2018. In the United States, production rose to about 700,000 liters by 2020. The beverage market is always changing, and businesses are constantly looking for fresh things to give consumers. The popularity of zero-proof alcohol is a reaction to shifting customer preferences and presents businesses with a fresh and cutting-edge product category to consider. The market is expanding as a result of the rising consumer demand for zero-proof spirits' production and consumption.
Explore More Related Studies Published by Fact.MR Research:
Whiskey Market: The whiskey market is forecast to reach a valuation of US$ 110 Billion by 2032.
Food-grade Alcohol Market: The global food-grade alcohol market is valued at US$ 13.8 billion in 2023 and is expected to reach US$ 20.8 billion by the end of 2033.
Bio Alcohol Market: The value of Bio Alcohol Market is projected to increase at a CAGR of around 6.4% during 2022 – 2032.
About Fact.MR:
Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we delivers deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empowers businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning. With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape.
Contact:
US Sales Office
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583, +353-1-4434-232 (D)
Sales Team: sales@factmr.com
Follow Us: LinkedIn | Twitter | Blog
