Albany, NY (PRWEB) February 05, 2015
According to a new market report published by Transparency Market Research ?Non-Alcoholic Drinks Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 – 2020,? the market was valued at USD 1,435.25 billion in 2013, which is expected to reach USD 1,937.73 billion by 2020, growing at a CAGR of 4.3% from 2014 to 2020. In terms of volume, the global non-alcoholic drinks market was valued at 912.77 billion liters in 2013 and is expected 1289.03 billion liters by 2020, growing at a CAGR of 4.9% from 2014 to 2020.
Changing customer needs and introduction of new flavors and product variants are the major factors driving demand for non-alcoholic drinks globally. With large upcoming business utilities in automotive, power and construction sectors in developing countries, the per-capita income is expected to increase over the forecast period, thereby increasing the disposable income of consumers. Increasing disposable income in emerging economies is expected to have high impact on demand for non-alcoholic drinks in the long run.
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However, increasing health awareness is one of the restraining factors for growth of the non-alcoholic drinks market. North America is one of the major markets for non-alcoholic drinks followed by Asia Pacific. However, with the rapidly changing lifestyle in the developing countries such as India, Singapore and China among others, Asia Pacific is expected to be one of the largest markets for non-alcoholic drinks by 2020.
However, the consumption rate in North America has decreased in recent years owing to increasing health awareness among the younger generation. Obesity is one of the major health problems in North America and Europe. The major manufacturers in the non-alcoholic drinks market have introduced zero-sugar and diet drinks which meet the consumers? demands of reduced calories to cater with changing consumer requirements.
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Soft Drinks segment accounted for the largest revenue share in 2013. The Tea and Coffee segment is the fastest growing segment, growing at a CAGR of 7.0%. North America is the largest market for non-alcoholic drinks. However, Asia Pacific is expected to be the fastest growing market, growing at a CAGR of 6.8% from 2014 to 2020. Apart from this, the rest of the world is also having huge untapped potential for non-alcoholic drinks with a large number of variants yet to be introduced in these markets.
Major industry participants include A.G. Barr, plc. (U.K.), Dr. Pepper Snapple Group, Inc. (U.S.), Dydo Drinco, Inc. (Japan), Attitude Drinks, Inc. (U.S.), LiveWire Ergogenics, Inc. (U.S.), Calcol, Inc. (U.S.), Danone (France), Nestl