The global low-alcohol beverage market has a CAGR of 5.3 percent until the end of this year, when it is expected to be valued at US$2.36 billion. The growth has been fueled by consumer desire to have healthier drinking habits and the increasing popularity of mindful drinking. Manufacturers are creating beverages that taste and feel the same as their alcoholic counterparts but have a better health status.
“Increasing consumer interest in health and wellness has been a major factor driving the low-alcohol beverages market in recent years. In addition, the negative effects of alcohol consumption, including cardiovascular ailments and high blood pressure, have prompted consumers to opt for low-alcohol beverages, which has, in turn, led to market growth,” said a lead analyst from Future Market Insights.
Over the forecast period, the Asia-Pacific has remained the strongest region in the market. China, which holds 50 percent of the market in the region, is expected to see a growth rate of 5.3 percent. The USA also expected growth, its traditionally small market is expected to grow two percent by the end of the year.
Important developments in the market include the new beverage brand De Soi by Katy Perry and her business partner Morgan McLachlan; DrinksDeli, an online drinks portal that has launched a specific zero-alcohol platform; HEINEKEN’s entry into the cruise industry as Pure Pira; The Reef Tip cocktail from Diageo that promotes coral reef regeneration; Jim Beam premix RTDs from Suntory holdings and Chu-hai RTD from Suntory spirits.