Millennial consumer preferences to drive faster adoption of non-alcoholic beer market revenues to ross $28 Billion by 2027. Key players in the industry are focusing their efforts towards the development of online retail platforms, along with social media promotional campaigns.
“Home delivery of non-alcoholic beer products by food delivery service providers is still a new niche that will open up a plethora of online retail opportunities in the non-alcoholic beer market,” says the Fact.MR report. The global non-alcoholic beer market is set to grow at a healthy CAGR of 7% during 2019 – 2027.
Non-alcoholic Beer Market: Key Takeaways
- Market in Asia Pacific is poised for an impressive CAGR of more than 9% through 2027
- Malted grains remain preferred material among producers of non-alcoholic beer.
- Rise in consumption of alcohol-free beverages and mixed beer beverages is unlocking profitable avenues for manufacturers.
- Gains in the non-alcoholic beer market will remain concentrated in the millennial consumer demographic.
- Online food delivery services are developing a highly profitable investment pocket for non-alcoholic beer producers.
Non-alcoholic Market: Key Driving Factors
- Increasing penetration of online retail and social media is working is favor of non-alcoholic beer sales.
- Growing preference for non-alcoholic beer among athletes as a recovery drink is pushing market growth.
- Rapid developments and commercialization of low and non-alcoholic beverage categories are fueling growth of market.
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Non-alcoholic Beer Market: Key Constraints
- Availability of carbonated and natural based beverage substitutes continues to restrain growth of global non-alcoholic beer market.
- Apprehension among first-time consumers about flavors and potential side effects remains a limiting factor for market growth.
The global non-alcoholic beer market is highly consolidated, with the top 10 manufacturers accounting for three quarters of the market share.
Major alcohol producers are shifting their focus from conventional alcoholic beverages to low and non-alcoholic beverages, in a bid to leverage favorable tax policies for greater profits.
Brewers are following a multi-pronged business strategy that involves multiple sales channels, development of new products, and collaborations. The key players in non-alcoholic beer market include, but are not limited to, Kirin, Carlsberg A/S, Suntory Beer, and Heineken N.V