Market Research Future (MRFR) assessed the COVID-19 Pandemic Impact on Non-Alcoholic Beer Market 2020, till the analysis period 2019 to 2024. By 2024, the non-alcoholic beer market can rise at 8.28% CAGR. MRFR reveals that the non-alcoholic market can value at USD 7.3 Bn on the end of the analysis period. The low-alcohol content beverages are produced from ingredients, such as hop, malt, water, and sometimes yeast by the process of fermentation that is performed under controlled conditions. The availability of different equipment, such as reverse osmosis, and vacuum distillation among other, to produce non-alcoholic beer can also support the expansion of the market through the review period in the analysis period.
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In addition, the rise in consumer awareness about the availability of non-alcoholic beverages, along with their health benefits can drive the global non-alcoholic beer market through the assessment period. Launch of innovations and industrialization across developing economies are other factors that are observed to boot sales of non-alcoholic beer, which can promote the market growth. However, high price can hinder the growth of the market in the years to come.
Anheuser-Busch InBev SA (Belgium), Heineken N.V. (Netherland), Big Drop Brewing Co. (U.K.), Erdinger Weibbrau (Germany), Bernard Brewery (Czech Republic), Krombacher Brauerei (Germany), and Suntory Beer (Japan) are some prominent companies that are operating in the COVID-19 Pandemic Impact on Non-Alcoholic Beer Market are listed by MRFR.
The segment assessment of the Global Non-Alcoholic Beer Market is done by category, product type, and distribution channel.
The type-based segment of the COVID-19 Pandemic Impact on Non-Alcoholic Beer Market are into alcohol-free, product type, and 0.5% alcohol by volume. The alcohol-free segment of the market can rise at a decent pace as their demand is observed to surge.
The category-based segment of the Non-Alcoholic Beer Market are plain and flavored. The flavored based segment of the non-alcoholic beer market can rise at high pace in the years to come. The increase in plain flavored beer consumption can also support the expansion of the market through the analysis period.
The distribution channel-based segment of the non-alcoholic beer market are non-store-based and store-based. The store-based sub-segments are specialty stores, and supermarkets & hypermarkets, among others. The trend for online shopping is surging that is observed to support the market expansion across the assessment period.
Trends of the COVID-19 Pandemic Impact on Non-Alcoholic Beer Market and its regional assessment spans across Europe, North America, and APAC. Among these region, North America is expected to rise at a decent pace through the review period. The expansion of the regional market can be attributed to the gradual rise in the consumption of non-alcoholic beer among working class population. In Europe, taxation on alcoholic beverages can favor the non-alcoholic beer market across the review period. Increase in youth population base, rise in income, higher brand consciousness, hike in purchasing power, change consumer preferences, and growing urbanization can are other cause that can driver the growth of non-alcoholic beer industry in Europe. In Middle East, no permit is given for selling alcoholic beverage that creates numerous opportunities for non-alcoholic beverage marketer.
Thus, MEA region is observed to make high profit for the global market through the analysis period. Most non-alcoholic beers are sold as flavored malts. The availability of non-alcoholic beverages in a wide-Variety of flavors, such as strawberry, Apple, pineapple, raspberry, pomegranate, peach, and classic malt others, along with their growing popularity can promote the regional market through the evaluation period.
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NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.