A new market study, titled “Discover Global Non-Alcoholic Wine and Beer Market Upcoming Trends, Growth Drivers and Challenges” has been featured on WiseGuyReports.
Non-Alcoholic Wine and Beer Market is showing immense potential to replace alcoholic drinks. Athletes and sportspersons are consuming non-alcoholic beverages heavily due to health concerns. Besides, the expansion of the digital world educated the young mass about the ill effect of alcohol; as a result, the sales numbers of nonalcoholic drinks are proliferating. The majority of the customer base of the industry is below 30 years.
The Islamic population contributes a large customer base for alcohol-free drinks. Alcohol is ban in countries like Egypt, Iran, and Libya; as a result, the young community is happily accepting the nonalcoholic drinks as an alternative. According to the report, the Middle East region contributes almost 33% of the global nonalcoholic drinks market.
Factors like growing adaptation, a growing consumer base, and high disposable income are responsible for market growth. The increasing penetration of premium brands and their involvement will boost the quality of the products and improve the market share for the industry.
In 2018, the market size of the industry was around 20 billion USD. The forecast suggests the Non-Alcoholic Wine and Beer Market share will increase to 30 billion USD by 2025. The industry is expected to show an impressive Compound Annual Growth Rate (CAGR) during the forecast period.
Market Segmentation of Non-Alcoholic Wine and Beer Market
The Non-Alcoholic Wine and Beer Market can be segmented on Products, End Users, and Regions.
By Product, the market can be divided into Alcohol-Free and Low Alcohol products.
Based on End Users, the global market can be segmented into Convenience Stores, Supermarkets, Online Stores, Liquor Stores, and Restaurants.
In 2018, the beer segment contributed around 60% of the market share. The wide range of health benefits is the main reason behind its dominance.
The report suggests that the wine segment is anticipated to show a CAGR of 8% up to 2025.
Geographical Market Segmentation of Non-Alcoholic Wine and Beer Market
Geographical segmentation of Non-Alcoholic Wine and Beer Market includes many regions and countries. Some of the focused areas are China, France, Germany, South Africa, Mexico, India, Japan, the USA, Spain, the UK, Argentina, Brazil, Australia, Canada, and Italy.
North America anticipated showing a CAGR of 6.5% by 2025 owing to the efficient manufacturing process like reverse osmosis and growing investment in the research and development process of the Product.
The Europian market is leading the market share due to the availability of the products, reliable distribution channels, and a large number of manufacturers.
Current Happenings from the Industry
In a recent development, scientists in Europe started to increase the speed of the evolution process of Yeast to improve the flavor for beer and wine. The research will help the industry to match the changing trends and tests of their customer base. As a result, shortly, the demand for low alcohol products will increase.
The approach of the scientists to speed up the evolution process naturally has got critical acclamation by all communities as it is discouraging the faster genetic modification approach.
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