Low-Alcohol Beverages Market to grow by USD 332 million between 2024-2028
According to a research report “ Low-Alcohol Beverages Market” by Distribution Channel (Off-trade, On-trade) Product (Low alcohol beer, Low alcohol wine, Low alcohol RTD, Low alcohol cider, Low alcohol spirits) Geography (Europe, North America, APAC, South America, Middle East and Africa)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 332 million at a CAGR of over 4.54% during the forecast period. In the dynamic business landscape of the global low-alcohol beverages market, health-conscious consumers represent a significant growth driver. Vendors effectively position low-alcohol beverages as a healthier alternative to traditional alcoholic drinks, appealing to consumers seeking to mitigate potential health risks associated with conventional options. These risks, including anemia, cancer, cardiovascular diseases, depression, high blood pressure, and nerve damage, are commonly linked to high-ABV beverages like regular beer. As a result, the market experiences a shift in consumer preferences towards healthier, low-alcohol beverage choices. Simultaneously, there exists a segment of consumers who wish to reduce their alcohol intake but not eliminate it entirely, further expanding the market potential..
Browse market data tables, figures, and in-depth TOC on “Low-Alcohol Beverages Market” by Distribution Channel (Off-trade, On-trade) Product (Low alcohol beer, Low alcohol wine, Low alcohol RTD, Low alcohol cider, Low alcohol spirits) Geography (Europe, North America, APAC, South America, Middle East and Africa) Global Forecast to 2028.
View detailed Table of Content- Click here
By Distribution Channel, the Off-trade segment is projected to dominate the market size in 2024.
The low-alcohol beer market is experiencing significant growth, driven by the enduring preference for traditional beer and the emerging health trend. Despite containing less alcohol, consumers demand more robust flavors, leading brewers to introduce lower-alcoholic beers infused with additional fermentable ingredients. Anheuser Busch InBev SA/NV, for example, offers WALS BERLINER, a 3.3% ABV beer with red fruits and hibiscus, complementing its strawberry aroma and acidic taste.
By Product, Low alcohol beer segment is expected to hold the largest market size for the year 2024.
In the global low-alcohol beverages market, the off-trade segment is experiencing robust growth. Key distribution channels include individual retailers, supermarkets, hypermarkets, and online platforms. These channels provide consumers with a wide selection of low-alcohol beverages, offering cost advantages due to the absence of dining areas. Supermarkets and hypermarkets, such as Tesco Plc, Carrefour SA, and Target Brands Inc., feature dedicated sections for various low-alcohol beverage brands. The forecast period anticipates increased sales in the off-trade channel, driven by the expanding roster of low-alcohol beverage manufacturers catering to this distribution channel.
Europe is forecasted to hold the largest market size by region in 2024.
The European low-alcohol beverages market is projected to expand substantially over the forecast period, driven by Germany, Spain, and the UK. Consumers' high living standards have led to the introduction of diverse low-alcohol beverage options. Market players in Europe are focusing on enhancing brand value, market share, and profitability by offering a wide range of products and investing in R&D for low-alcohol beverages. Key players prioritize brand promotion and market positioning to fuel market growth.
The Low-Alcohol Beverages Market t growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:
.
For insights on company offerings- Request a sample report!
Research Analysis Overview
Low-alcohol beverages have gained significant traction in the market, catering to the evolving preferences of consumers, particularly young people and millennials. These beverages offer a balance between taste and mindful drinking, aligning with health and wellness goals. The fruit-flavored variety adds a creative twist to the traditional alcoholic beverage category. Manufacturers prioritize product quality and nutritious ingredients to meet the demands of health-conscious consumers. High-quality and low-calorie options are increasingly popular, making low-alcohol beverages an attractive alternative to high-ABV drinks. The market provides a wide range of choices, ensuring there is a product for every taste preference. Molasses Coors, among other industry leaders, recognizes the importance of catering to diverse consumer needs. They focus on delivering a superior mouthfeel and taste experience, ensuring their low-alcohol beverages do not compromise on flavor. As consumers continue to prioritize healthy drinking habits, the low-alcohol beverage market is poised for continued growth.
Market Research Overview
The low-alcohol beverage industry is witnessing a significant rise in consumption among various demographics, including women, adults, and young consumers. Online shopping platforms have made it easier for individuals to access these beverages, which come with low entry hurdles. The trend is particularly noticeable in the realm of spirits, with beer and wine leading the charge. However, the negative health effects associated with heavy alcohol consumption have led many to seek out mindful drinking options. British craft beer and nolo drinks are popular choices, offering calming flavors that cater to better lifestyles. Consumers are increasingly drawn to creative, high-quality low-alcohol beverages, with flavors ranging from Mojito and Cosmopolitan to fruit-flavored and low-calorie options. Product quality and nutritious value are key considerations, as are health and wellness goals. The low-alcohol beverage market is diverse, with a focus on taste and mouthfeel, as well as alcohol content. Cans and cocktail mixes are popular formats, and the industry continues to innovate, offering a variety of flavors and healthy products. Alcohol-by-volume (ABV) is a crucial factor, with many opting for low-alcohol beverages to maintain a balanced lifestyle. Emerging economies are also embracing this trend, as consumers seek out alternatives to traditional high-alcohol drinks.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
