Market Overview
The global sugar-free beverages market is anticipated to touch USD 237.48 billion by 2030, at a 7.23% during the forecast period. Sugar-free beverages can be defined as substitutes for sugar-based beverages, which are artificially sweetened by using artificial sweeteners like aspartame, stevia, neotame, saccharin, and sucralose. They are considered a healthier option for consumers who are concerned regarding their sugar intake and prevents weight gain.
Sugar-free beverages are gaining huge attention among global consumers, mainly due to the health benefits associated with them. These beverages are generally low in calorie as the artificial sweeteners which are used are 600 times sweeter than sugar, thus allowing the use of sweetener in less quantity. Sugar-free beverages help in short-term weight loss as calorie intake is less. These healthy attributes associated with sugar-free beverages will trigger the demand from the global sugar-free beverages market. Industry bigshots across the globe are highly involved in the development of new product launches and are focusing on the introduction of a wide variety of flavors in order to suit the customer’s requirements. Such factors are estimated to elevate the market growth across the globe.
Factors such as changing preferences of the consumers and rising disposable income, especially in the emerging nations are likely to offer the market an impetus. Moreover, sugar-free drinks assist in preventing tooth decay, which is likely to attract consumer’s attention. The surging demand for sugar-free organic beverages has further created new growth opportunities for the market.
On the contrary, long-term and regular usage of sugar-free beverages is not encouraged as it causes adverse health effects. This is estimated to restrict the market growth in the foreseeable future.
Global Sugar-Free Beverages Market: Segmental Analysis
The global sugar-free beverages market has been segmented on the basis of product type, claim, and distribution channel.
By product type, the sugar-free beverages market is segmented into soft drinks, fruits vegetable juices, dairy beverages, energy drinks, and others. Of these, the fruits vegetable juices segment is likely to dominate, mainly due to its health benefits.
The claim segment comprises lactose-free, gluten-free, organic, and others. Of these, the organic segment is estimated to dominate, mainly due to consumer’s inclination towards preservative-free and natural products.
Based on the distribution channel, the market includes store-based, non-store based. Of these, the store-based segment will command the highest market share owing to the improving and organized retail format across the globe. On the other hand, the recent boom in the e-commerce sector has led to increasing demand for the non-store based segment.
Competitive Dashboard
The top key sugar-free beverages market players are Mars Inc. (U.S.), The Hershey Company (U.S.), Unilever (U.K.), Nestlé (Europe), PepsiCo (U.S.), The Coca-Cola Company (U.S.), and The Kraft Heinz Company (U.S.).
Regional Frontiers
Geographically, the sugar-free beverages market spans across Europe, North America, Asia Pacific, and the Rest of the World (RoW).
Considering the global scenario, the sugar-free beverages market will be dominated by North America. The soaring demand for calorie-free sweeteners like stevia, especially in the regions of Brazil and the US, increasing health issues like diabetes and obesity, and surging geriatric population are some of the primary growth stimulants of the regional market. Moreover, the surging rate of competition and the existence of industry bigshots in the region are likely to contribute to the market’s growth.
The Asia Pacific will acquire the second position in the global market owing to surging disposable income, coupled with the rapid shift in consumer’s preferences. Key players in the region are highly involved in RD activities to develop new and innovative products and cater to the unmet needs of health-conscious consumers.
Industry Updates
September 2019: The Coca-Cola Company will be continuing its 32-year association with UEFA and will become an official sponsor for UEFA EURO in the next year. Coca-Cola and UEFA have also announced a deal, where the manufacturers will become the official non-alcoholic beverage sponsor for UEFA EURO 2020.
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