Arab & Middle East News
(ARABNEWSWIRE.COM, September 24, 2018 ) Non-alcoholic beverages are effortlessly available in the market in various forms like fruit juices, soft drinks, instant coffee, tea, energy drinks, bottled water, isotonic drinks, and others. The overall consciousness for good health has resulted in many people shifting from alcoholic beverages to non-alcoholic ones. Main producers are focusing on innovative product inventions to adjust with the varying consumer preferences.
The market is showcasing prominent potential in the mentioned forecasting period. The market continues to gain momentum with the hasty development in the beverage industry.
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Global Non Alcoholic Drinks Market value is estimated to grow at a CAGR of 4.4% to reach a market value USD 2184.47 Billion by 2023.
Drivers and restraints:
Drivers which are influencing the Global Non Alcoholic Drinks Market growth are changes in lifestyles and consumer choices, demand of the rising population, and increase in spending abilities.
The restraints which are limiting the growth of the market are Consumer concern about the health effects of synthetically sweetened drinks, and government restrictions for ingredient use in these drinks.
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Partition of the Market:
The non-alcoholic beverage market is partitioned on according to product types, sales distribution channels. With respect to product types, non-alcoholic beverage market can be divided into carbonated and non-carbonated beverages. With respect to sales and distribution channel types, this market can be sectioned into hypermarket, supermarket, convenience store, departmental stores, specialty store, and online purchase.
Geographically, the market is partitioned into North America, Latin America, Middle East and Africa, Europe and Asia Pacific. North American region is leading the world market for non-alcoholic beverages, and is tailed by the Asia-Pacific region. Asia-Pacific market for non-alcoholic beverages has the peak potential CAGR for the forecast period.
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Key players of the market:
Prominent players of non-alcoholic beverage market are Attitude Drinks Inc., Coca-Cola Company, Dr. Pepper Snapple Group Inc., Danone, DydoDrinco, Inc., Nestlé S.A., PepsiCo Inc., Parle Agro Ltd, and San Benedetto.
Market Data Forecast.