Asia Pacific Non-Alcoholic Beverage Market Size, Share Analysis:
Asia Pacific Non-Alcoholic Beverage Market is worth USD 352.05 billion in 2022 and estimated to grow at a CAGR of 3.7%, to reach USD 422.18 billion by 2028. The Asia Pacific Non-Alcoholic Beverage market is developing at an exceptionally quick pace.
Asia Pacific Non-Alcoholic Beverage Market Growth:
Non-alcoholic beverages are the ones that do not contain alcohol. These beverages hydrate, some provide important nutrients and vitamins the body needs. Others energize, provide required sugar and calories. Other uses of Non-alcoholic beverages in hotels are for the use of making cocktails and mocktails, As they stimulate the plate & act as an aperitif. They are found in different forms like in packet, bottle, canned, pressured container, etc. some examples of beverages are e.g. aerated waters, mineral water, juices, squashes, syrups, tonic, soda, Pepsi, Coke, root beer, etc.
The significant driver changes in consumer shifts in the food and beverage segment and the rising spending of populations in non-alcoholic drinks attributed to increasing per-capita incomes. Also, the surge in health concerns has led a large chunk of population in developed and developing regions to prefer non-alcoholic over alcoholic drinks in developed and developing nations is boosting the industry. Also growing food and beverage industries are further expected to boost this industry.
Asia Pacific Non-Alcoholic Beverage Market Segmentation Analysis:
The Asia Pacific Non-Alcoholic Beverage market is segmented on the basis of product type, distribution channel, and region. Based on product type, the market is segmented into soft drinks, dairy drinks, tea & coffee, bottled water, juice, and others. The soft drinks segment has nearly covered 30% of the market share. The tea & coffee segment is expected to grow with the highest rate and is identified as one of the profit targets for investment. Based on the distribution channel, the market is segmented into Specialty Stores, Online Store, Super Markets/ Hyper Markets, Convenience Stores, Departmental Stores, and Others.
Regional Insights of the Asia Pacific Non-Alcoholic Beverage Market:
The Asia Pacific is geographically segmented into China, India, Japan, South Korea, Taiwan, Australia, and Southeast Asia. China and India are likely to increase the market because of the huge population. Also, Asia Pacific is the largest growing segment.
Asia Pacific Non-Alcoholic Beverage Market Key Players:
A.G. Barr, Dr. Pepper Snapple Group, Dydo Drinco, Attitude Drinks, Co., Livewire Energy; Calcol, Inc., Danone, Nestle S.A., PepsiCo, Inc., and The Coca-Cola Company are the leaders in the Asia Pacific Non-Alcoholic Beverage market.
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