The Low Alcohol Beverages by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Low Alcohol Beverages, The low alcohol beverages market size has grown strongly in recent years. It will grow from $1.25 billion in 2023 to $1.33 billion in 2024 at a compound annual growth rate (CAGR) of 6.3%. The growth in the historic period can be attributed to changing consumer preferences, regulatory initiatives, innovation in product development, social trends and cultural shifts, marketing and branding strategies
The low alcohol beverages market size is expected to see strong growth in the next few years. It will grow to $1.65 billion in 2028 at a compound annual growth rate (CAGR) of 5.5%. The growth in the forecast period can be attributed to global wellness movement, environmental sustainability, demographic changes, retail landscape evolution, investments and collaborations. Major trends in the forecast period include health and wellness movement, innovation in product development, societal and cultural shifts, regulatory environment, millennial and gen z preferences.
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. Around 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.
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The low alcohol beverages market covered in this report is segmented –
1) By Type: Low Alcohol Beer, Low Alcohol Spirits, Low Alcohol Wine, Low-Alcohol RTD, Low Alcohol Ciders
2) By Distribution Channel: Store-Based, Non-Store Based
3) By Application: Supermarkets And Hypermarkets, Retailers
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%).
The low alcohol beverages market report table of contents includes:
1. Executive Summary
2. Low Alcohol Beverages Market Characteristics
3. Low Alcohol Beverages Market Trends And Strategies
4. Low Alcohol Beverages Market – Macro Economic Scenario
5. Global Low Alcohol Beverages Market Size and Growth
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26. South America Low Alcohol Beverages Market
27. Brazil Low Alcohol Beverages Market
28. Middle East Low Alcohol Beverages Market
29. Africa Low Alcohol Beverages Market
30. Low Alcohol Beverages Market Competitive Landscape And Company Profiles
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