09 September 2022
Douglas Insights has attempted to expand the growth of its comparison engine to include Non-Alcoholic Beverages. The market reports include a plethora of information including insights from analysts and market researchers. The reports are all based on the public and private databases that Douglas Insights has access to. The reports include a variety of information including the increasing developments in the market and the recent trends. The major areas covered include the growth drivers, opportunities, challenges and restraints present in the market.
The Global Non-Alcoholic Beverages Market is increasing at quite a rate due to the increasing fundamental transformation that it’s going through. There are constantly new updates that the market benefits from. There are increasing uses of non-alcoholic beverages in the current social and cultural context; thus, the demand for these products is only rising steadily.
Owing to the COVID-19 pandemic, however, the global market for non-alcoholic beverages was facing quite the downfall as there was reduced consumption of these beverages and soft drinks. The impact has much to do with cancelling sports tournaments that were major promotors of these soft drinks.
The significant drivers are the new beverages that the manufacturers are now coming up with. Introducing new beverages such as nutritious drinks that can help with your overall metabolism is also a rising trend pushing the market forward. These non-alcoholic beverages are now multi-faceted because they also provide nutrition for the people who choose to drink them.
Other drivers also include the fact that there is a lot of innovation in these said beverages, even apart from providing nutrition. Some drinks can replenish your electrolytes and can be used for all sorts of uses. There are beverages for indulgence and to keep your body moving after a long race, all driving the market demand forward. There is also a key focus on the health and wellness industry, which champions hydration. Hydration is essential for consumers nowadays. Thus ,the overall trend of non-alcoholic beverages is also increasing in kind.
Many millennials and GenZ consumers also have a very on-the-go lifestyle which means that they're constantly looking for ways to have canned beverages that may increase their value and energy. The point is that many ready-to-drink coffees and teas are out there, driving the demand for non-alcoholic drinks.
There is also a greater use of e-commerce platforms that drives the overall market demand. Using different websites and food delivery apps can make the growth of this industry even more remarkable. They increase the accessibility to beverages at all times of the day. Virtual shopping trends, the glorification of burnout, and caffeine addiction on social media are also indefinitely driving the market demand.
One of the major segments that must be acknowledged is the rising bottled water segment. The regular work week requires people to be out of their house most of the time, which means that they're likely to drink bottled water, and thus its production demand is constantly increasing.
There are restraints to the overall market as well. Tis industry is heavily reliant on natural resources. It requires a lot of water and energy for the beverages to be made. It can lead to many social and cultural interpretations of it all. Some natural resources are expected to hamper the production capabilities in the market. Using bottled water and bottled beverages may also add to the overall wastage of the market. These factors and more hamper the overall growth of the market.
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