Global Non-Alcoholic Beer Market is expected to grow at the CAGR of 8.28%. Non-Alcoholic Beer market has witnessed substantial innovation in terms of new product launches along with research & development and collaboration. Also, the overall disposable income of the consumer is increasing over the past few years which in turn leads to surge in sales of non-alcoholic beer during the forecast period.
Amidst the free market structure and low structural rigidities, high rates of economic and demographic growth are also indirectly contributing to the growth of non-alcoholic beer market. Rising consumer awareness, informed consumers with clear perceptions and willingness to engage in buying healthy goods are some of the elements that come together and fuel the demand of non-alcoholic beer globally. The consumer behavior includes the rate of adoption of new innovative products and their spending decision and as consumers are becoming increasingly aware of the benefits of non-alcoholic beer, the adoption rate of non-alcoholic beer has been rising. With growing consumers’ health awareness and pursuit of healthy lifestyle, as well as corresponding purchasing behaviors, has opened up new market opportunities for industrial players to tap the unexplored market horizons.
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Major Key Players
The leading market players in the global Non-Alcoholic Beer Market primarily are Heineken N.V. (Netherland), Anheuser-Busch InBev SA (Belgium), ERDINGER WEIBBRAU (Germany), Big Drop Brewing Co. (U.K.), KROMBACHER BRAUEREI (Germany), Bernard Brewery (Czech Republic), Suntory Beer (Japan)
The market players have increased their level of investment in research to identify right formulation and to improve product functionality in order to capture lion’s share and create brand recognition in non-alcoholic beer market. Manufacturers indulge in maintaining transparency and allow food traceability in order to manage and mitigate risk and lowering the impact of recalls and lowering liability costs. The global non-alcoholic beer market is segmented on the basis type, raw material, process and regions of non-alcoholic beer.
The global Non-Alcoholic Beer Market is segmented into North America, Europe, Asia Pacific and Rest of the world. Among these, North America is projected to retain its dominance throughout the forecast period. North America is estimated to reach to USD 2.07 Billion by the end of 2024. The region is projected to grow at a substantial growth of 7.40% during the review period of 2020-2024. However, RoW region is also estimated to grow at a high pace as compare to the other region owing to the increasing acceptance of non-alcoholic beer instead of the other alcoholic beverages.
Middle East countries find a massive opportunity in the non-alcoholic beer market owing to the rising Muslim population in that particular countries. North America is estimated to retain its dominance throughout the forecast period and to grow at a substantial CAGR of 7.40%. Among the North American country, Mexico is projected to witness a substantial growth of 8.45% during the forecast period of 2020-2024.
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