Non-Alcoholic Wine and Beer Market to eyewitness massive growth by 2026
The global market for non-alcoholic wine and beer market is anticipated to show an exponential rise during the forecast period 2018-2026, owing to gradual inclination of consumers towards healthier non-alcoholic beverages. Rising consumer awareness regarding the adversarial impact that alcohol cause in one’s body is fueling the demand for non-alcoholic wine and beer. Rise in disposable income and change in lifestyle is favoring the growth of the market. Significant rise in non-alcoholic drinkers across the world is further helping the market to grow stupendously. Rise in socialization in order to maintain social status will lead to increase in consumption of non-alcoholic wine and beer among non-drinkers, this is anticipated to stimulate the market.
Global Non-Alcoholic Wine and Beer Market: Drivers and Restraints
The global non-alcoholic wine and beer market is witnessing a strong demand due to increasing uptake of less alcoholic or zero alcohol beverages. Apart from these, rapid urbanization, rising pub culture, and increasing spending power are likely to fuel the adoption of non-alcoholic wine and beer. Gradual shift of particularly young population towards zero alcohol beverage as it consist of sophisticated and experimental flavors is driving the market. In recent years, cider variant is gaining an immense popularity among millennials, thus boosting the growth of the market.
Various alcohol manufactures are experimenting with various strategies in order to increase their sales in alcohol prohibition states such as Islamic states. They are attracting the customer by producing alcohol-free wine and beer variants in the state. These is predicted to thrive the market. Rise in popularity of these beverage in the Middle East countries are expected to create lucrative growth opportunities for the players. Apart from these, stringent rules and regulation such alcohol consumption age limit by government of various countries to thrust the market.
However availability of substitute beverages in the carbonated and natural based form is prognosticated to hamper market growth.
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Global Non-Alcoholic Wine and Beer Market: Regional Outlook
Europe has experienced a strong demand for non-alcoholic wine and beer due to rising awareness among the consumers. Apart from these, presence of key players in the region is causing a positive influence on the market. Rapid advancement in technology and fast adoption of these technology in Europe will help the market to expand at a robust CAGR. However, Asia Pacific is expected to rise at a stellar rate during the assessed period owing to rise in disposable income, and economic development in the region. Furthermore, entry of new players in the region is likely to boost the market.
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Global Non-Alcoholic Wine and Beer Market: Companies Mentioned
Some of the players in the market are Moscow Brewing Company, Anheuser-Busch InBev, Heineken N.V., Calsberg, and Erdinger Weibbrau.
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