Non-Alcoholic Drinks Market Size, Share, Growth Analysis, By Type(Carbonated Soft Drinks (CSD), Ready-to-Drink Coffee & Tea, Bottled Water, Fruit Beverages), By Distribution channel(Supermarkets/Hypermarkets, Food Services Sector, Convenience Stores, Specialty Stores), By Region - Industry Forecast 2024-2031

Global Non-Alcoholic Drinks Market size was valued at USD 772 billion in 2022 and is poised to grow from USD 822.18 billion in 2023 to USD 1360.70 billion by 2031, growing at a CAGR of 6.5% in the forecast period (2024-2031).

As consumer acceptance of the no-alcohol and low-alcohol categories continues to rise, manufacturers within the market are actively aligning with these emerging trends, employing innovative approaches to evolve their existing product portfolios. This strategic move sets a positive trajectory for future growth prospects. The influence of consumers gravitating towards non-alcoholic beverages has spurred the creation of a distinct segment of premium, intricately flavored soft drinks tailored to mature palates. A study like the Waitrose Food and Drink Report from October 2021 reveals a consistent yearly increase of 22% in searches for alcohol-free drinks, underscoring the demand shift.

Brands have been quick to respond to these evolving trends by introducing novel offerings or expanding their current product lines. A noteworthy example is U.S.-based tea brand Good Earth, which broadened its U.K. product range in May 2020. Their portfolio encompasses an array of fruit & herbal, green, and black teas, alongside original and flavored kombucha variants, all blended with natural ingredients. Furthermore, the 2022 Bacardi Cocktail Trends Report discloses that approximately 58% of global consumers are transitioning towards non-alcoholic and low-ABV cocktails and beverages.

Concurrently, the growing embrace of no-alcohol and low-alcohol categories has prompted manufacturers to innovate their current product offerings, a strategy poised to drive future growth. The escalating consumer consciousness regarding the health merits of bottled water is expected to propel this segment. The preference for bottled water over regular water, especially among younger consumers, fuels product sales. Responding to this trend, numerous eateries are incorporating diverse bottled water options.

The rapid proliferation of restaurants worldwide is also projected to significantly augment the demand for bottled water in the coming years. Additionally, consumer aspirations for improved physical well-being have led to a preference for beverages devoid of alcohol content. Goliath Consulting Group's 2021 Beverage Trends Report underscores this, highlighting consumer preferences for zero-proof spirits, alcohol-free cocktails, and low-calorie, low-carb drinks, particularly in countries like the U.S. and the U.K. These evolving trends are creating fresh avenues for beverage manufacturers to explore and seize new opportunities in the market.

US Non-Alcoholic Drinks Market is poised to grow at a sustainable CAGR for the next forecast year.