(Entertainment-NewsWire.com, December 17, 2021 ) Non-Alcoholic Malt Beverages Market size was estimated at $33.2 billion in 2020, projected to grow at a CAGR of 4.5% during the forecast period 2021-2026. The growing consumer desire for flavored beverages that are non-alcoholic is one of the primary reasons fueling the expansion of the non-alcoholic malt beverages industry. A non-alcoholic malt beverage is a non-alcoholic version of an alcoholic beverage, such as carbonated drinks. Flavored beverages are another name for them. A non-alcoholic malt beverage is produced by the germination of cereal grains, generally barley. Malt is high in B vitamins, minerals, proteins, and a little amount of fiber. Non-alcoholic malt beverages can help people improve their physical performance and fight depression. Malt extract is a concentrated syrup that is used to give texture and taste to a wide range of flavored beverages, from coffee to beer. The fact that barley is included in these drinks provides minerals, amino acids, and vitamins. Beer is a sort of malt beverage that includes alcohol, which is either filtered or boiled out of the beer to eliminate it.
Non-Alcoholic Malt Beverages Market Segment Analysis – By Product
Based on Product, Non-Alcoholic Malt Beverages market is segmented into Carbonated Drinks, Dairy-Based Drinks. The carbonated drinks category will account for the greatest revenue market share in 2020, owing to its rising appeal among consumers. Furthermore, changing consumer tastes and preferences, as well as growing non-alcoholic consumption of carbonated drinks, is anticipated to drive the Non-Alcoholic Malt Beverages industry. Malt is made from cereal grains that have had their inherent food components modified by partial germination. Although any cereal grain may be used to make malt, barley is the most common. The dairy-based drinks category is anticipated to increase at a high CAGR owing to the increasing health benefits of these drinks among consumers and the growing demand for dairy-based non-alcoholic malt beverages among the population. Dairy-based Drinks Segment is predicted to grow with the fastest CAGR of 4.7% in the forecast period 2021-2026 owing to the rising popularity for these products. Non-alcoholic malt drinks, such as dairy-based alternatives, have clear health advantages, which is poised to drive sales globally. Non-alcoholic malt beverages is predicted to gain more popularity as people throughout the world pursue a healthy lifestyle, avoiding alcohol at parties and festivities.
Non-Alcoholic Malt Beverages Market Segment Analysis – By Distribution Channel
Based on Distribution Channel, Non-Alcoholic Malt Beverages market is segmented into Supermarkets/Hypermarkets, Food Service Places, Convenience Stores, Online. Non-alcoholic Malt Beverages are distributed through a number of means. These goods are increasingly available in supermarkets/hypermarkets, throughout the world, indicating a significant non-alcoholic presence in the region. Supermarkets/Hypermarkets accounted for the largest revenue market share in 2020 as they surpassed liquor stores as the most important distribution channels for non-alcoholic carbonated beverage, and they are expected to increase at the highest rate throughout the projection period. Food Service Places Segment is projected to grow with the fastest CAGR of 5.0% in the forecast period 2021-2026. Foodservice providers, hotels, and restaurants are projected to be critical avenues for driving worldwide industry growth. It includes takeaways, fast-food joints, bars, and full-service restaurants. Over the projection period, demand for this channel is expected to expand, and the sector is expected to grow at a substantial rate.
Non-Alcoholic Malt Beverages Market Segment Analysis – By Geography
Based on Geography, North America Non-Alcoholic Malt Beverages Market accounted for the 38% revenue share in 2020. North America's dominant position in the non-alcoholic malt beverages is majorly attributed to the existence of developed economies and early acceptance of carbonated drinks and other flavored drinks. Many globally known beverage firms, such as PepsiCo and Coca-Cola, are headquartered in the area, which is headed by the United States. Asia-Pacific is poised to grow with the fastest CAGR in the forecast period 2021-2026. Growing economies and improved knowledge of the advantages of non-alcoholic malt beverages, and shifting consumption habits in the region all contribute to increased product demand. Another key driver predicted to boost the market revenue growth is the rising demand for non-alcoholic drinks among health-conscious consumers, owing to recognized side-effects of alcohol usage. The market's development throughout emerging nations has been greatly assisted by rising production and demand for food ingredients. For example, China's food industry is expected to develop at an exponential rate, providing potential prospects for non-alcoholic malt drinks. Despite the fact that non-alcoholic malt beverages are regarded a niche industry, analysts have seen a high-volume offering of the category. Non-alcoholic malt beverages have less calories than carbonated beverages, which is helping them gain traction in emerging economies. Producers in this category usually cater to those who do not drink alcohol. The items' availability on online retail platforms is also projected to contribute significantly to market expansion.
Consumers who are health-conscious are more likely to prefer non-alcoholic malt beverages
With time, more people are becoming aware of the advantages of non-alcoholic beverages. Part of the reason for this movement away from alcoholic beverages and toward dairy-based alternatives or carbonated beverages owing to product developments by prominent companies. Leading corporations are obliged to offer healthier alternatives to their favourite flavored drink as consumers become more health concerned. In light of this, the market for non-alcoholic malt drinks is projected to grow in the future years, particularly as they acquire appeal in places like the Middle East. Consumer demand for these flavored beverages is anticipated to boost by the rising popularity of non-alcoholic malt beverages. As a consequence of this need, the non-alcoholic malt beverage business has surged in popularity in recent years. Non-alcoholic malt drinks, in contrast to the market for alcoholic beverages, are not damaging to one's health, making them safe to consume. Growing public awareness about the need of being healthy is another factor boosting the worldwide non-alcoholic malt beverage market.
Sales of Such Beverages is Predicted to affect in the Areas Where Alcohol is at Huge Demand
However, the worldwide market for non-alcoholic malt drinks may struggle on several fronts. As the beverages do not include alcohol, they may not appeal to a customer base in areas where alcohol is in great demand. Furthermore, the appeal of these beverages was harmed as a result of negative publicity such as "offering yellow fizzy water" at bars and lounges. Nonetheless, as the number of health-conscious people grows, many are turning to non-alcoholic malt beverages to obtain the same pleasure without the alcohol. In the near future, this may likely counterbalance most of the restrictions influencing the global non-alcoholic malt beverage market. The rising obesity epidemic in the United States and Mexico, as well as government-imposed sugar levies, are acting as both restrictions and drives for CSDs and goods manufactured with low-calorie non-nutritive sweeteners.
Product launches, mergers and acquisitions, joint ventures and geographical expansions are key strategies adopted by players in the Non-Alcoholic Malt Beverages Market. Non-Alcoholic Malt Beverages Market top 10 companies are Van Pur S.A., the Coca-Cola Company, Nestlé S.A., Malta Goya, Gujarat Cooperative Milk Marketing Federation Ltd., CHI Ltd., Royal Unibrew A/S, United Dutch Breweries B.V., Aujan Industries Co., L.L.C., Harboes Bryggeri A/S, Asahi Breweries Ltd
In July 2020, Spirit Signatures, a collection of taste solutions for low- and no-alcohol beverages, was launched by Symrise Flavors NA. Kentucky Whiskey, Tennessee Whiskey, Scotch Whiskey, Brandy, and Rum are among the tastes available.
With a huge population in emerging countries like India and China, rising demand is generating a favorable market for expanded production with significant development potential.
Additionally, busy lives, rising trends in the consumption of nutritional foods and beverages, and various manufacturers' methods to delivering beverages in cans at various retail and convenience shops are all contributing to the worldwide non-alcoholic malt beverages market's development.
Furthermore, in order to develop business in unexplored or emerging areas in Asia Pacific, some significant businesses are entering into new business segments such as non-alcoholic malt drinks as a healthy flavored drink.
For example, with its Barbican brand, Coca-Cola has entered the specialized business area of non-alcoholic malt beverages to cater to the Indian market. Other firms, such as Heineken and Anheuser-Busch InBev, have also introduced non-alcoholic malt beverages to target a large market of people who prefer non-alcoholic beverages over alcoholic beverages.
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