New York, June 26, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Low Alcohol Beverages Global Market Report 2023" - https://www.reportlinker.com/p06466446/?utm_source=GNW
, Accolade Wines, Diageo, Allagash Brewing Company, Molson Coors Brewing Co., and Beam Suntory Inc.
The global low alcohol beverages market is expected to grow from $1.18 billion in 2022 to $1.25 billion in 2023 at a compound annual growth rate (CAGR) of 6.7%. 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, causing inflation across goods and services and affecting many markets across the globe. The low alcohol beverages market is expected to reach $1.56 billion in 2027 at a CAGR of 5.5%.
The low-alcohol beverages market consists of sales of roasted light beer, gin and diet tonic, hard seltzer, and other related products.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.
Low-alcohol beverages refer to drinks having a lower ABV (alcohol strength by volume) of 0.5% to 1.2%. The low-alcohol beverages do not include diuretics, which do not cause any dehydration and assist the body in keeping hydrated.
North America was the largest region in the low alcohol beverages market in 2022. The regions covered in low-alcohol beverages report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of low-alcohol beverages are low-alcohol beer, low-alcohol spirits, low-alcohol wine, low-alcohol RTDs, and low-alcohol ciders. Low-alcohol beer refers to a type of beer with an alcohol content (ABV) of less than 2.5%. They are sold through several distribution channels, including store-based and non-store-based, and are used for various applications such as supermarkets, hypermarkets, and retailers.
The increasing demand for a healthier lifestyle is expected to boost the growth of the low-alcohol beverages market going forward.The preference for a healthier lifestyle includes the intake of healthy beverages, which refers to a drink that is fit for consumption.
Consumers believe that incorporating healthful fluids into daily life can help individuals become healthier, and low-alcohol beverages are often touted as having fewer calories and sugar than their full-alcohol substitutes, which can support a healthy lifestyle; therefore, the increasing demand for a healthier lifestyle is expected to boost the low-alcohol beverages market. For instance, according to a study from 2,662 beverage customers from the United Kingdom, Germany, Poland, and Spain were polled published by Kerry Group Plc., an Ireland-based provider of functional and nutritional solutions to the food, beverage, and pharmaceutical industries, in 2021, since the COVID-19 outbreak began, 65% of beverage customers are more concerned about their health. 50% of respondents said that mental health is now a priority, while 59% mentioned immunity. Therefore, the increasing demand for healthier beverages is driving the growth of the low-alcohol beverages market.
Product innovation is the key trend gaining popularity in the low-alcohol beverage market.Major companies operating in the low-alcohol beverage market are focusing on developing new products.
For instance, in September 2022, Kaska, a Finland-based low-alcohol drinks company, launched Smål Boosted Gin.This product’s unique feature is that it is distilled with a high concentration of botanicals for low-alcohol usage.
It is intended to be used in far lesser amounts than regular gin and comes in a 200-ml bottle.One tiny capful is the recommended serving size for one drink, and each bottle includes a tiny 10 ml measure made of 100% biodegradable Sulapac wood-based material.
With this procedure, a single 200-mL bottle of Sml Boosted Gin may produce 20 gin and tonics while using only a little percentage of the alcohol (about 2%).
In January 2023, Refresco Group, a Netherlands-based beverage solutions provider, acquired Avandis for an undisclosed amount.Through the acquisition, Refresco hopes to increase its selection of alcoholic beverages in Europe.
The Avandis production facility in Zoetermeer, the Netherlands, is anticipated to join the Refresco network of more than 70 facilities across Europe, North America, and Australia, strengthening the company’s position as a global independent beverage solutions provider to branded clients and top retailers. Avandis is a Netherlands-based company that produces high- and low-alcohol beverages and offers co-packing and private-label solutions for spirits in bottles and cans.
The countries covered in the low-alcohol 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 resales along the supply chain, either further along the supply chain or as part of other products.
The low alcohol beverages market research report is one of a series of new reports that provides low alcohol beverages market statistics, including low alcohol beverages industry global market size, regional shares, competitors with a low alcohol beverages market share, detailed low alcohol beverages market segments, market trends and opportunities, and any further data you may need to thrive in the low alcohol beverages industry. This low alcohol 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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