The global low-alcohol beverages market is set to be valued at US$ 800 million in 2023. Further, worldwide sales of beverages with low alcohol content are estimated to reach a value of US$ 1.2 billion by 2033-end, increasing at a CAGR of 4.5% through 2033.
Rising consumption of alcoholic drinks in the past few years has resulted in numerous health issues. As such, more manufacturers are now producing low-alcoholic beverages. In addition, growing public awareness about the availability of low-alcoholic or non-alcoholic drinks is also driving growth opportunities in the global market.
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Competitive Landscape
Industry players are incorporating different strategies to gain a competitive edge in the market.
For instance :
- In May 2022, Budweiser brewer AB InBev started to take efforts to fulfill its goal to manufacture 20% of its total volume of beer with low alcohol and no alcohol. The company is planning to achieve its goal by 2028-end. In an interview in Davos at the World Economic Forum, the company confirmed that it can reach slightly over 6% of its complete goal.
Through this initiative, the company is supporting the WHO, which is targeting to reduce the consumption of harmful beverages – alcoholic drinks. The excessive consumption of alcoholic beverages is responsible for chronic diseases, car accidents, and congenital disabilities.
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Key Companies Profiled:
- A. Le Coq
- New Belgium Brewing Company
- Bacardi Ltd.
- Constellation Brands, Inc.
- Jack’s Hard Cider
- Red Truck Beer Company
- Vitis Industries
- Sierra Nevada Brewing Co.
Segmentation of Low-alcohol Beverages Industry Research
- By Type :
- Beer
- Wine
- RTD
- Cider
- Spirits
- By Distribution Channel :
- Supermarkets & Hypermarkets
- Convenience Stores
- Specialty Stores
- Online Retail
- By Region :
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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Questionnaire answered in the Low-alcohol Beverages Market report include:
- How the market for Low-alcohol Beverages has grown?
- What is the present and future outlook of the global Low-alcohol Beverages on the basis of region?
- What are the challenges and opportunities for the Low-alcohol Beverages?
- Why the consumption of Low-alcohol Beverages highest in region?
- In which year segment is expected to overtake segment?
What makes Fact.MR report stand out from others?
- Fact.MR follows a six-point mechanism known as E.V.O.L.V.E. (Evaluate. Visualize. Overcome. Leverage. Verify. Eradicate.). The report is specially created to assess the COVID-19 impact on the Low-alcohol Beverages market. This mechanism focuses on almost all the factors in a definite manner to provide the best research report for the market stakeholders.
- Evaluate: A Fact.MR report evaluates every small aspect that can prove to be a growth generator for the Low-alcohol Beverages market, thus, making it different and special from other reports.
- Visualize: The authors involved in the research activities visualized the post-COVID-19 era so that the key stakeholders of market get an overview and helps them take certain steps to ensure continuous growth during the forecast period.
- Overcome: The report scrutinizes on points that can prove to be an Achilles heel to the Low-alcohol Beverages market and assists to create strategies to overcome the obstacles that may hinder the growth of the Low-alcohol Beverages market.
- Leverage: The Low-alcohol Beverages market can leverage certain aspects that can prove beneficial for the increase in growth rate. Fact.MR covers all the points on which the key stakeholders can leverage upon.
- Verify: Research is done systematically to assure validation of all the aspects covered in the report. All the points are rechecked and verified thoroughly to avoid flaws and fake information.
- Eradicate: Last but not the least, this aspect helps the key stakeholder eradicate all the obstacles that come between the growth rate and the Low-alcohol Beverages market.
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