ID: MRFR/F-B & N/2582-HCR | February 2021 | Region: Global | 110 pages
Sugar-Free Beverage Market is expected to grow at a higher CAGR of 6.4% Forecast to 2023. A good and healthy substitute for sugar-based beverages is called sugar-free beverages. These beverages also contain sugar content, but the sweeteners added in these beverages are generally artificial sweeteners like sucralose, neotame, saccharin, aspartame, and stevia. Those who are more inclined towards weight reduction prefer Sugar-Free Beverage Market as these are healthier substitutes and helps in reducing the overall sugar intake of an individual. The demand for these beverages is increasing as most consumers are shifting towards healthy attributes. This drink helps in reducing cravings while maintaining a healthy diet.
COVID 19 Analysis
The global pandemic of COVID 19 has affected a large section of society. Most people have lost their livelihood because of this global pandemic. It has affected the growth and dynamics of several industries. Owing to the shortage of vaccines, everyone is concerned about their immunity and follows social distance. Owing to the lockdown and post lockdown situation most of the manufacturing units of various industries were shut down which affected the sales revenue. As a consequence, sales revenue of the sugar-free beverage market also declined. Not only this but the supply chain network was also distributed during the lockdown situation which decreased the profit margin.
However, it is expected that the sugar-free beverage market will recover from this loss caused by the global pandemic of COVID 19 by the end of the third quarter of the coming year as many people are becoming health conscious to increase their immunity. Company and gain positive market growth by strategizing according to the needs of the market.
The most prominent major key players in the sugar-free beverages market all across the globe are mentioned below:
These major key players use various strategies to sustain their market position in the sugar-free beverage market in the global market by going for mergers, and acquisitions, by collaborating, setting up a new joint venture, establishing a partnership, developing a new production process, developing a new product line, innovation in the existing product, and many others to expand their customer base in the untapped market of the sugar-free beverage all across the globe.
Various factors drive the market demand in the Sugar-Free Beverage Market. These beverages are largely used by people who are more health-conscious and those who want to reduce their weight. Since there is a large chunk of the population suffering from obesity in almost all the regions creates demand for these beverages all across the globe. This drink contains artificial sweeteners which are 600 times sweeter than the traditional sugar and hence used in small quantities which low-calorie content. Since more people are inclined towards a calorie deficit diet, it boosts the market demand.
The rise in demand for sugar-free beverages in the global market. Since these beverages help in weight loss during a short period because of decreased calorie intake provides various growth opportunities. Moreover, extensive innovation has been going on to add more flavors in the basket to capture the taste and preference of all the customers.
Various factors restrict the growth of Sugar-Free Beverage Market owing to the high cost as most artificial sweeteners are more costly as compared to traditional sugar. Moreover, the use of these drinks for a longer period can cause adverse health problems which hamper the growth rate.
Value Chain Analysis
These beverages use a small number of sweeteners and hence it does not damage the teeth and prevents tooth decay. Growing disposable income results in a sudden shift towards organic products and being organic fuels the demand for these drinks in the global market. Moreover, these drinks also help in weight management.
The sugar-free beverage market has been divided all across the globe based on the product type, claims, and distribution channel.
Based on the Product Type
The Sugar-Free Beverage Market has been divided all across the globe based on the product type into dairy beverages, energy drinks, soft drinks, fruits and vegetable juices, and many others. The largest market share in the global market is held by the fruits and vegetable juice dividend owing to various health benefits and hence it dominates the market.
Based on the Claims
Sugar-Free Beverage Market has been divided all across the globe based on the claims into organic, lactose-free, gluten-free, and many others. The largest market share in the global market is held by the organic dividend owing to increasing dependency on preservative-free and natural products and hence it dominates the market.
Based on the Distribution Channel
Sugar-Free Beverage Market has been divided all across the globe based on the distribution channel into store-based physical distribution channels and non-store-based physical distribution channels. The largest market share in the global market is held by the store-based dividend as it helps in improving retail format and hence it dominates the market.
The sugar-free beverage market has been divided all across the globe based on the region into the North American region, Asia-Pacific region, European region, and the Middle East and African region. The largest market share in the global market is held by the North American region and hence it dominates in the global market owing to the presence of countries like the US, Canada, and Mexico. People of this region are more health-conscious and hence drives the market demand.
Being the fastest-growing region in the global market, the Asia-Pacific region holds the second-largest market share in the global market. The presence of countries like Japan, Australia, India, and China covers the major proportion of population all across the globe and hence it creates more market demand for sugar-free beverages. Additionally, a rise in disposable income in this region also creates market demand.
The third-largest market share in the global market is held by the European region owing to the presence of various countries like the UK, Spain, Italy, France, Germany, and many others. The improvement in the health infrastructure provides various growth opportunities in this region. Also, people of this region spend more money on their well-being and hence creates more demand.
The Latin American region and the Middle East and African region show moderate growth rates during the forecasted period. Countries like Argentina, Brazil, and various other South African countries come under these regions. The poor health infrastructure and lack of awareness among people do not allow the sugar-free beverages market to grow at a higher rate like other regions.
This sugar-free beverages market research report consists of the following elements mentioned below:
This Sugar-Free Beverage Market research report contains factors that drive the growth of the sugar-free beverage market in the global market along with the factors that restrict its growth in the global market. The opportunities available for growth during the forecasted period are mentioned. The impact of COVID 19 on the sales revenue of the sugar-free beverage market all across the globe is mentioned. The future growth rate of the sugar-free beverage market during the forecasted period is estimated and mentioned.
Traders, importers, and exporters, the e-commerce industry, retailers and wholesalers, sugar-free beverages manufacturers, and many others.
Frequently Asked Questions (FAQ) :
The sugar-free beverages market is expected to grow at a higher CAGR of 9.36% in the global market during the forecasted period.
The largest market share in the sugar-free beverages market all across the globe is held by the North American region followed by the Asia-Pacific region, European region, Latin American region, and the Middle East and African region.
The major key players in the sugar-free beverages market are the Kraft Heinz Company (US), PepsiCo (US), The Coca-Cola Company (US), and many others.