Rising awareness toward a healthy lifestyle and the growing preference for low-sugar drinks are driving the market for non-alcoholic beverages in India.
According to TechSci Research report, “India Non-Alcoholic Beverage Market – By Region, Competition Forecast and Opportunities, 2017-2027”, the India non-alcoholic beverages market is expected to project impressive growth of USD13.70 billion in the forecast period, 2023F-2027F, with a CAGR of 8.10% on account of rapidly surging demand from the residential sector as well as the growing hotels, restaurants, cafes/caterings (HORECA) sector in India.
The India non-alcohol beverages market is being supported by significant factors such as increasing demand for non-fizzy drinks, rising GDP, growing per capita income, surging sales through e-commerce, etc. Moreover, vital marketing activities by various brands and prominent endorsements by film stars are some of the significant drivers of non-alcoholic beverages across the country. However, one of the most difficult challenges for the Indian soft drink industry is reaching out to rural markets, which account for roughly 67% of the country’s total population. In addition to the vast population, reaching rural consumers across the country’s vast geography presents significant distribution challenges. Making chilled carbonated drinks available to a large population is also a challenge.
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The India non-alcoholic beverages market is segmented on the basis of product type, packaging, package size, distribution channel, regional distribution, and competitional landscape.
Based on product type, the market is further fragmented into carbonated beverages and non-carbonated beverages. Carbonated beverages are further segmented into carbonated soft drinks, functional/energy & sports drinks and others. The non-carbonated beverages are segmented into bottled water, fruit juices & flavored drinks, and others. Non-carbonated beverages sub-segment is expected to register the largest revenue shares of the market and dominate the market segment in the upcoming five years because of its various advantages like healthier options, low-sugar content beverage choices, and new innovating flavors. These are some of the major factors influencing the growth of non-carbonated beverages within the India non-alcoholic beverages market.
The market is segmented into bottles, cans, and others based on packaging. The bottle segment is one of the major contributors to the growth of the non-alcoholic beverages market in India, as they are convenient, readily available, and price friendly. The market is segmented into below 250ml, 250ml–1 liter, and above 1 liter in terms of package size. The 250ml–1 liter range has dominated the India non-alcoholic beverage market with a 51.69% share because the quantity of drink is reasonable for one or more people, and the price is feasible.
Key market players in the India Non-Alcoholic Beverages Market include:
· Dabur India Limited
· ITC Limited
· Manpasand Beverages Limited
· Nestle India Limited
· Bisleri International Private Limited
· Coca-Cola India Private Limited
· Hector Beverages Private Limited
· Parle Agro Pvt. Ltd
· PepsiCo Holdings India Private Limited
· Red Bull India Private Limited
With the increasing competition in the India non-alcoholic beverage market, most major brands are focused on producing new flavors with the latest packaging.
India has one of the world’s most populous and fastest-growing middle-class populations. This segment’s rising aspirations are expected to drive non-alcoholic beverage demand to new highs in the coming years. Today, India is an important market for players looking to establish a strong beverage brand. Owing to many macroeconomic factors, the Indian non-alcoholic beverage market is one of the fastest-growing globally.
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The dairy drinks category in India is a late entrant, but it is growing rapidly. National players are taking notice of the vast untapped market. Coca-Cola’s recent launch of “Vio” flavored milk in India is a step toward cashing in on a million-dollar opportunity. The branded dairy drinks players correctly address the Indian consumer’s need for a healthy, hygienic, and convenient drink. The current status of dairy drinks is that they are consumed on the go, with in-home consumption limited to traditional milk-based beverages such as buttermilk and Lassi. In terms of in-home beverage consumption, carbonated soft drinks, fruit juices, and fruit-based drinks are dominating. However, there has been a noticeable consumer shift away from carbonated soft drinks due to health concerns, altering the in-home beverage consumption pie and gradually shifting away from healthy fizzy drinks.
Today’s Indian consumer has evolved into a value seeker, willing to pay a premium for value-added products, resulting in dramatic changes in food and beverage consumption patterns. This behavioral shift was observed among urban consumers and their counterparts living in semi-urban and prosperous rural areas, who began acting in the same manner, boosting consumption of non-carbonated beverages.
“Owing to the significant increase in the non-carbonated beverages segment, the carbonated beverages segment is expected to lose market share during the projection period. Aerated non-cola drinks, particularly fruit drinks, have grown in popularity. Leading manufacturers are altering their business strategies to address consumers’ health concerns. Due to increased affordability and increasing health concerns among customers, the non-carbonated beverage category has developed tremendously.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“India Non-Alcoholic Beverages Market By Product Type (Carbonated Beverages and Non-Carbonated Beverages), By Packaging (Bottles, Cans and Others), By Package Size ( Below 250ml, 250ml-1liter and Above 1liter), By Distribution Channel (Department Store, Supermarket/Hypermarket, Convenience Store, Online and Others), By Region, Competition, Forecast & Opportunities, 2017-2027F”, has evaluated the future growth potential of India non-alcoholic beverages market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in India air conditioner market.
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