According to a recently published research report by Fact.MR, a provider of market research and competitive intelligence, the projected value of the global low-alcohol beverages market is US$ 1.2 billion for 2033-end. Demand for low-alcoholic beverage products is estimated to increase at a CAGR of 4.5% through 2033.
Low-alcohol beverages generally refer to those drinks that have 0.05% to 1.12% of alcohol-by-volume. The changing preference toward healthy beverages is likely to stimulate lucrative opportunities in the global industry. People around the world are demanding high-quality, tastier, and healthier low-alcoholic drinks to match their health goals. As such, manufacturers are introducing new products without making any changes to the mouthfeel and taste to cater to consumer demands. In addition, increased investments by industry players to improve the quality, variety, and taste of these beverages are predicted to push market growth upwards.
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On the flip side, the comparatively lower penetration of different low-alcohol beverages across emerging economies in recent years is estimated to limit the adoption of these products. Moreover, an established consumer base of alcoholic beverages is also expected to negatively impact market opportunities.
Key Takeaways from Market Study
- Sales of low-alcohol beverages are expected to reach US$ 1.2 billion by 2033-end.
- The Canada market is anticipated to expand at a CAGR of 2% through 2033.
- Valuation of low-alcohol beverages is US$ 800 million for 2023.
- The market is likely to progress at a CAGR of 4.5% through 2033.
- Sales of low-alcohol beverages in Germany are likely to increase at a CAGR of 1.9% through 2033.
“Lower and no-alcohol beers are taking up a noticeable amount of shelf space in supermarkets & hypermarkets in different regions,” says a Fact.MR analyst.
Segmentation of Low-alcohol Beverages Industry Research
- By Type :
- Beer
- Wine
- RTD
- Cider
- Spirits
- By Distribution Channel :
- Supermarkets & Hypermarkets
- Convenience Stores
- Specialty Stores
- Online Retail
- By Region :
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Winning Strategy
Mindful drinking is gaining popularity in recent years among people. Young people are adopting healthy drinking habits that are estimated to contribute to increased demand for low-alcohol beverages. Growing knowledge about the detrimental effects of different high-alcoholic beverages along with their quick substitution by no and low-alcoholic beverages might fuel lucrative opportunities in the industry.
Millennials are reducing the consumption of alcoholic drinks. Further, growing demand for some hard seltzer among other flavors likely to bolster market momentum.
Competitive Landscape
Industry players are incorporating different strategies to gain a competitive edge in the market.
For instance :
- In May 2022, Budweiser brewer AB InBev started to take efforts to fulfill its goal to manufacture 20% of its total volume of beer with low alcohol and no alcohol. The company is planning to achieve its goal by 2028-end. In an interview in Davos at the World Economic Forum, the company confirmed that it can reach slightly over 6% of its complete goal.
Through this initiative, the company is supporting the WHO, which is targeting to reduce the consumption of harmful beverages – alcoholic drinks. The excessive consumption of alcoholic beverages is responsible for chronic diseases, car accidents, and congenital disabilities.
Key Companies Profiled
- Le Coq
- New Belgium Brewing Company
- Bacardi Ltd.
- Constellation Brands, Inc.
- Jack’s Hard Cider
- Red Truck Beer Company
- Vitis Industries
- Sierra Nevada Brewing Co.
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global low-alcohol beverages market for the period of 2023-2033.
The study divulges essential insights into the market based on type (beer, wine, RTD (ready-to-drink), cider, spirits), distribution channel (supermarkets & hypermarkets, convenience stores, specialty stores, online retail), and across five major regions (North America, Europe, Asia Pacific, Latin America, and MEA).
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