New York, US, June 29, 2021 (GLOBE NEWSWIRE) -- Low Alcohol Beverages Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “Low Alcohol Beverages Market Information by Type, Distribution Channel, and Region - Forecast till 2028”, the market is projected to reach USD 889.7 Million by 2028 at 4.3% CAGR.
Market Drivers and Restrains
The ongoing trend of mindful drinking and the inclination of youngsters towards healthy drinking habits are expected cause the expansion of the low alcoholic beverage market. The increase in awareness about harmful effects of high alcohol content beverages, and their rapid replacement with low alcohol beverages can underpin the market rise in the analysis tenure. The decline in the consumption of alcoholic drinks among the millennial population and their increasing preference for hard seltzers among the available different flavours of low ABV drinks can improve the impetus of the market.
In addition, the adoption of packaging styles with better aesthetics to attract customers, along with other effective marketing strategies by key players that can increase the number of buyers, is likely to prompt the low ABV market expansion in the approaching years. The booming e-commerce business also benefit the market owing their ability to offer better purchasing experience. The advent of e-commerce platforms dealing only in food stuff can add momentum to the low ABV market expansion.
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Key Players:
Major companies in the Low Alcohol Beverages Market are:
- Bacardi Limited
- United Breweries Group
- Heineken Holding Nv
- Beam- Suntory
- Anheuser Busch InBev.
- The Brown-Forman Corporation
- Accolade Wines
- Carlsberg Group
- Diageo Plc
- Constellation Brands
Trending ‘Nolo’ Drinks to Benefit Market
The growing popularity of “nolo” drinks, also called as no and low-alcohol beer, among the 18–24-year-olds is emerging as the UK’s biggest trend. Drinking low ABV or switching to no alcohol substitutes as for entertainment purpose is observed to rise significantly among youngsters. The annual British craft beer report, reveals that 1/3 young adults have cut down their alcohol consumption and are drinking low ABV to satisfy their thirst without getting a hangover. Products launched by reputed brewers, such as; Big Drop, an alcohol-free craft brewer in London, Big Drop, is reported to enjoy bumper growth as sales of their range of beers is observed to surge. The growing popularity of nolo drinks to benefit the low ABV market on a global scale.
Browse In-depth Market Research Report (90 Pages) on Low Alcohol Beverages: https://www.marketresearchfuture.com/reports/low-alcohol-beverages-market-10539
Market Segmentation
Ready-to-Drink Segment to Earn High Revenue for Low Alcohol Beverages Market
The segment study of the worldwide low alcohol beverages market is based on distribution channel and type.
The type-based segments of the low alcohol beverages market are wine, beer, RTD, and spirits. The ready-to-drink or RTD segment is expected to earn considerable revenue in the near future. The rise in popularity of low alcohol RTD beverages among people, especially among the young population is boosting sales of low alcohol beverages. The surge in consumption of RTD can the low alcohol beverage market to surge at an exponential rate in the study years. The easy premiumization of RTD alcoholic beverages can add impetus to the market. In addition, manufacturers launching new product with different flavours and adopting effective marketing strategies, such as attractive packaging and others, to push sales can also benefit the market.
Booming E-Commerce Business to Support Non-Store-Based Segment to Thrive by 2028
The distribution channel-based segments of the low alcohol beverages market are non-store based and store-based.
The non-store-based segment of the low alcohol beverage market can surge at exponential rate by 2028. The growth of the non-store-based segment can be attributed to the high frequency of purchase over numerous e-commerce channels. The increase in sales of low alcohol beverages on a global scale through e-commerce distribution channels can underpin the market rise in the years to come. In addition, due to the outbreak of COVID 19, people are using online platform for purchasing such beverages. As retail stores are closed due to social distancing, a measure adopted to control the spread of pandemic, has resulted into high sales of RTD beverages through e-commerce channels. Alongside, the approval for selling alcohol content drinks on online platform by governments can add momentum to the non-store-based segment of the market. The availability of different types of low alcohol beverage at reasonable rates is another causes people are favouring online distribution channel option as a purchasing platform. The large consumer base can promote the non-store based segment of the low alcohol beverage market.
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Regional Analysis:
Increase in Consumer Awareness to Benefit North America Low Alcoholic Beverage Market
North America low ABV beverages market is expected to earn decent revenue for global market by 2027. The expansion of the low ABV market in the North America region can be attributed to the increase in consumer awareness about health concerns that are associated with the consumption of high alcoholic beverages. The growing popularity of low alcohol beverages among the youngsters, as well as in the adult population, can prompt the expansion of the market in the region. The sudden surge in the demand for different flavoured, low alcohol content hard seltzers among the US population, is anticipated to create lucrative growths scope for beverage manufacturers in the region. The surge in number of investors willing to establish their start-ups dealing in low ABV in North America can bolster the North America market in the coming years.
EU Low ABV Market to Rise
The low alcohol beverages market in Europe can thrive by 2028. The change in consumer drinking habits and their preference for healthier drinks are causes that can benefit the regional market. The rise in number of companies establishing their business in hard seltzers and the introduction of new low ABV solutions to the existing product line of already established companies can lay the ground work for EU market to surge. The presence of a well-developed e-commerce infrastructure in the region and increase in sales of low alcoholic beverages over online platform can prompt the market expansion.
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