Non-Alcoholic Beer Market Trend | COVID – 19 Outbreak, Global Demand by Forecast to 2024
Market Overview
Global Non-Alcoholic Beer Market is expected to acquire a significant market share at a notable CAGR over the forecast period. In recent years, the rising health consciousness in consumers has fueled the demand for healthier consumable goods from market players, which has led to developments and innovation in the beer industry to cater to this demand. Non-alcoholic beers have been gaining popularity across the world. Apart from the health consciousness, the interesting flavors available in nonalcoholic beers have gained substantial traction from consumers. Globalization and urbanization have majorly affected the composition of the human diet and has been encouraging the consumption and usage of products with health and nutritional benefits. Non-alcoholic beer has created a lifestyle image that has improved its market stance better than popular nonalcoholic drinks such as juices and soft drinks. Non-alcoholic beer is being portrayed in a classy manner and has a certain impact on the social image of consumers. Hence it is most popular among the young population. This is driving key players in non-alcoholic beer market to acquire maximum profit from bars and restaurants over the review period.
Key Players
The chief market players identified in the Global Non-Alcoholic Beer Market Trend are Anheuser-Busch InBev SA (Belgium), Bernard Brewery (Czech Republic), Big Drop Brewing Co. (U.K.),Erdinger Weibbrau (Germany), Heineken N.V. (Netherland), Krombacher Brauerei (Germany), and Suntory Beer (Japan).
Segment Analysis
Global non- alcoholic beer market is segmented based on process, raw material, and product type.
The multiple processes used during the manufacture of non-alcoholic beers are boilers, reverse osmosis, vacuum, and others. The reverse-osmosis segment is projected to secure the maximum market share at a CAGR of 8.57% during the review period. The raw materials utilized in the global non-alcoholic beer market are enzymes, flavors, hops, malt, yeast, and others. Malt segment is expected to rise as the leading market segment, while the flavors segment is projected to gain significant traction owing to the growing popularity of craft which has in turn positively influenced the demand for the flavoured non-alcoholic beer. On the basis of product type, the global non-alcoholic beer market has been segmented into alcohol-free and 0.5% alcohol.
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Regional Analysis
Global market for non-alcoholic beer is segmented into North America, Asia Pacific, Europe, and Rest of the world.
North America is the largest region of the global non-alcoholic beer market and is expected to retain its dominance throughout the forecast period. Healthy economic growth, rising urbanization, middle-class population overgrowth are the noteworthy factors of the growth of non-alcoholic beer in North America. North America is assessed to reach a valuation of USD 2.07 billion by the end of 2023. The young populace in this region is expected to be the primary consumers of this product, and the market players in the region are focusing on catering specifically to this section of the population over the review period.
Europe is another significant region in the global non-alcoholic beer market and is likely to acquire the second leading position over the evaluation period. The stable economic growth, higher per-capita income of consumers, and the growing popularity of non-alcoholic beers are expected to drive the market growth substantially in this region.
The Asia Pacific is assessed as the fastest growing region in the global non-alcoholic beer market, owing to the increasing product awareness among consumers over the forecast period. Additionally, the availability of unique flavours catering to a niche section of consumers, especially in countries such as China, Japan, and Malaysia, are expected to drive the APAC market for non-alcoholic beers over the assessment period.
The Rest of the World is likely to rise at a high CAGR of 9.00% during the review period.
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