Low & No Alcohol Beverages Market Said Worth $68.9 Billion by 2030

That would require a 14% CAGR from the current $22.5 billion, according to InsightAce Analytic Pvt Ltd., which calculated the figure.  

The term "low-alcohol beverages" refers to beverages with an alcoholic strength by volume (ABV) between 0.05 and 1.2%, whereas the term "no-alcohol" refers to beverages with an ABV below 0.05%. Newly launching products with fresh formulas and new manufacturers that have entered the market in recent years have boosted the demand for beverages with low or no alcohol content.

No- and low-alcohol beers, spirits, and mocktails are gaining popularity due to innovations in flavour, function, and variety as health-conscious consumers seek refreshing, flavorful, and satisfying alternatives to traditional alcoholic beverages, the study says. Such alcohol substitute drinks can be made with signature alcohol ingredients, layered flavours that mimic the wine-drinking experience, or formats that are appropriate for special occasions.

Key Trends and Drivers of the Market:

• Rise in mindful drinking and focus on individual health and wellness
• Investments by key beverage alcohol companies to attract new and younger consumers
• A shift towards natural and organic food products by consumers
• Popularity gained by non-alcoholic beverages from health-conscious consumers
• Different initiatives are taken by governments across the globe to regulate and restrict the consumption of alcoholic beverages