The non-alcoholic beverages market in Europe is expected to grow from US$ 360.55 million in 2022 to US$ 500.28 million by 2028. It is estimated to grow at a CAGR of 5.6% from 2022 to 2028.
Rising Popularity of Plant-Based Beverages
The vegan population has grown significantly over the past few years. People are readily switching to a vegan diet due to increased health and sustainability concerns. According to the International Food Information Council’s 2021 Food and Health Survey, more than 4 out of 10 buyers believe plant-based food and beverages are healthier than conventional ones even when two products have similar ingredients and provide similar nutritional benefits.
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The demand for dairy alternatives is increasing promisingly due to the growing influence of veganism and the increasing lactose-intolerant population. Therefore, beverage manufacturers are increasingly launching products with plant-based claims to meet the growing demand. The products are made with oat milk and are certified vegan. For instance, in February 2021, Minor Figures, a UK-based beverage brand, launched a range of barista-quality canned tea and coffee with four variantsโlatte, matcha latte, chai latte, and mocha. Thus, the rising number of product launches under the plant-based beverage category is expected to drive the demand for non-alcoholic beverages in the coming years.
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Asahi Group Holdings, Ltd.
Bolthouse Farms, Inc.
Califia Farms, LLC
Danone S.A.
Keurig Dr Pepper, Inc.
Nestlรฉ S.A.
PepsiCo Inc.
Red Bull
SUNTORY HOLDINGS LIMITED.
The Coca-Cola Company
Europe Non-Alcoholic Beverages: Strategic Insights for Navigating a Dynamic Market
The European non-alcoholic beverages market is a complex and highly competitive arena. To thrive, stakeholders โ whether investors, manufacturers, or distributors โ require more than just a general understanding of market trends. They need strategic insights that provide a data-driven, future-oriented perspective, enabling them to make informed decisions and achieve sustainable growth.
The Power of Data-Driven Analysis:
Strategic insights begin with a rigorous analysis of the industry landscape. This involves:
- Current Trend Identification: Pinpointing the driving forces behind market growth, such as the rising demand for functional beverages, the shift towards natural and organic products, and the influence of social media on consumer behavior.
- Key Player Analysis: Evaluating the competitive landscape, identifying market leaders, and understanding their strategies, strengths, and weaknesses. This includes analyzing market share, product portfolios, distribution networks, and marketing initiatives.
