Low Alcoholic Beverages Market Size, Share, Growth Analysis, By Type(Beer, Wine, Spirits, RTDs), By End-User(Supermarkets, Shopkeepers, Online), By Region - Industry Forecast 2024-2031

Global Low Alcoholic Beverages Market size was valued at USD 1.53 billion in 2022 and is poised to grow from USD 1.62 billion in 2023 to USD 2.57 billion by 2031, growing at a CAGR of 5.9% in the forecast period (2024-2031).

Due to the abundance of both small and large firms, the sector is very competitive. Research and innovation activities in this sector are being driven by the necessity of product differentiation. Pressure for product augmentation and new product creation is brought on by rapidly evolving technologies and demanding clients. To create new products that adhere to the norms and laws set forth by various countries, businesses are investing substantially in research. Stretching and expanding the product line has been crucial to this industry's development. For instance, In July 2021, Suntory Holdings introduced a cola flavor to its Jim Beam high bail premix RTDs in Japan. Suntory Spirits responded by developing a "chu-hai" RTD that is half as sweet as a regular alcoholic canned cocktail. 'Anheuser-Busch InBev', 'Carlsberg Breweries A/S', 'Heineken N.V.', 'Krombacher Brauerei Bernhard Schadeberg GmbH & Co. KG', 'Suntory Beverage & Food Limited', 'Big Drop Brewing Co.', 'Erdinger Weißbräu Werner Brombach GmbH', 'Behnisch Brauerei', 'Bernard Family Brewery', 'BERNARD Family Brewery', 'BrewDog PLC', 'Coors Brewing Company', 'Diageo plc', 'Dogfish Head Craft Brewery, Inc.', 'Eel River Brewing Company', 'Halewood International Ltd', 'Kirin Holdings Company, Limited', 'Moscow Brewing Company LLC', 'San Miguel Brewery Inc.', 'The Boston Beer Company, Inc.'

Mocktails are becoming increasingly popular among young adults. Traditional alcoholic beverages, on the other hand, haven't lost their luster. The low-alcohol beverage market's prospects have been boosted by the increased penetration of low- or non-alcoholic beverages. Extended stay-at-home routines during the COVID-19 epidemic contributed to an increase in the popularity of low-alcohol beverages among adults. For those who had been weaned on only hard liquor before the epidemic, the pandemic sparked an interest in low-alcohol drinks.

The popularity of "nolo" drinks, also known as no and low-alcohol beer, among 18–24-year-olds is becoming the UK's biggest fad. Young people are increasingly drinking low-alcohol beverages or switching to non-alcohol alternatives as a form of fun. According to the annual British craft beer study, 1/3 of young adults have reduced their alcohol usage and are drinking low ABV beers to quench their thirst without developing a hangover. Products developed by reputable brewers, such as Big Drop, an alcohol-free artisan brewer in London, are claimed to be doing exceptionally well, with sales of their variety of beers surging. On a worldwide basis, the increased popularity of nolo beverages will assist the low ABV market.

Europe has the largest market share in the global market for low-alcohol beverages. The growing popularity of RTD has fueled demand for low-alcohol beverages all over Europe. Furthermore, in recent years, there has been a significant trend among young adults to reduce their daily alcohol use. Additionally, the Low-Alcohol Beverage business has been working hard to expand the range of flavors and textures available in wines, beers, and spirits. By 2028, the low ABV beverages market in North America is predicted to generate a significant amount of revenue for the worldwide industry. The growth of the low ABV market in North America can be ascribed to growing consumer knowledge of the health risks connected with the consumption of high alcoholic beverages. The rising popularity of low-alcohol beverages among young people and adults in the region could lead to market expansion in the region. The unexpected increase in demand for various flavored, low-alcohol hard seltzers among the US population is expected to provide attractive growth opportunities for beverage manufacturers in the region. The increase in the number of investors ready to invest in low ABV start-ups in North America