New York, United States, June 29, 2021 (GLOBE NEWSWIRE) – Low Alcohol Beverages Market Overview:
According to a comprehensive research report from Market Research Future (MRFR), âLow alcohol drinks Market insights by type, distribution channel and region – Forecast to 2028‘, The market is expected to reach USD 889.7 million by 2028 at a CAGR of 4.3%.
Market drivers and constraints
The current trend towards conscious drinking and the inclination of young people towards healthy drinking habits is expected to lead to the expansion of the low alcohol beverage market. The increased awareness of the harmful effects of high-alcohol drinks and their rapid replacement with low-alcohol drinks may support the increase in the market during the period of the analysis. The declining consumption of alcoholic beverages among the millennial population and their growing preference for hard carbonated drinks among the various available flavors of low VBA drinks may improve the market momentum.
In addition, the adoption of packaging styles with better aesthetics to attract customers, as well as other effective marketing strategies by key players that can increase the number of buyers, is likely to cause the low expansion of the market. ABV market in the coming years. The booming e-commerce is also benefiting the market because of its ability to provide a better shopping experience. The advent of e-commerce platforms dealing only with food products can give a boost to the expansion of the low VBA market.
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Major Companies in the Low Alcoholic Beverages Market are:
- Bacardi Limited
- United Breweries Group
- Heineken Holding SA
- Beam – Suntory
- Anheuser Busch InBev.
- The Brown-Forman Company
- Wines of honor
- Carlsberg Group
- Diageo Plc
- Constellation brands
Trends in “Nolo” drinks benefiting the market
The growing popularity of ‘nolo’ drinks, also known as non-alcoholic or low-alcohol beers, among 18-24 year olds is becoming the biggest trend in the UK. The consumption of low-ABV alcohol or switching to no alcohol substitutes for entertainment is increasing dramatically among young people. The UK Craft Beer Annual Report finds that a third of young adults have cut down on alcohol and drink little alcohol to satisfy their thirst without getting a hangover. Products launched by reputable brewers, such as; Big Drop, an alcohol-free craft brewer in London, Big Drop, is said to experience exceptional growth as sales of its range of beers are expected to increase. The growing popularity of nolo drinks is benefiting the low blood alcohol market globally.
Browse the in-depth market research report (90 pages) at Low alcohol drinks: https://www.marketresearchfuture.com/reports/low-alcohol-beverages-market-10539
Ready-to-Drink Segment to Generate High Revenue for Low Alcohol Beverage Market
The segment study of the global Low Alcohol Drinks market is based on the channel and type of distribution.
The segments by type of the low alcohol beverage market are wine, beer, RTDs, and spirits. The ready-to-drink or RTD segment is expected to generate considerable revenue in the near future. The growing popularity of low-alcohol RTD drinks among people, especially among the young population, is driving sales of low-alcohol drinks. The increase in RTD consumption may allow the low alcohol beverage market to grow at an exponential rate over the years of study. The simple premiumization of RTD alcoholic beverages can boost the market. In addition, manufacturers who launch new products with different flavors and adopt effective marketing strategies, such as attractive packaging and the like, to drive sales can also benefit the market.
A booming e-commerce business to support the non-store-based segment to thrive by 2028
The channel-based segments of the low alcohol beverage market are off-store and in-store.
The non-store segment of the low alcohol beverage market may grow at an exponential rate by 2028. The growth of the non-store segment can be attributed to the high frequency of shopping across many e-commerce channels. Increasing sales of low-alcohol beverages globally through e-commerce distribution channels may support the market rise in the years to come. Additionally, due to the COVID 19 outbreak, people are using an online platform to purchase such drinks. As retail stores are closed due to social distancing, a measure adopted to control the spread of the pandemic, has resulted in high sales of RTD drinks through e-commerce channels. At the same time, the approval of the sale of alcoholic beverages on an online platform by governments can give a boost to the non-store-based segment of the market. Another reason people favor the online distribution channel option as a shopping platform is the availability of different types of low-alcohol drinks at reasonable prices. The large consumer base can promote the off-store segment of the low alcohol beverage market.
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Increased Consumer Awareness for the Benefit of the North American Low Alcohol Beverage Market
The North America Low BAC Drinks market is expected to generate a decent revenue for the global market by 2027. The expansion of the Low BAC market in the North America region can be attributed increased consumer awareness of the health problems associated with the consumption of alcoholic beverages. The growing popularity of low-alcohol drinks among young people, as well as among the adult population, may prompt the expansion of the market in the region. The sudden increase in demand for various flavored, low-alcohol hard seltts among the American population is expected to create lucrative growth prospects for beverage manufacturers in the region. The increase in the number of investors keen to establish their start-ups in North America with low acquisition rates may strengthen the North American market in the years to come.
EU low blood alcohol market will grow
The market for low-alcohol drinks in Europe can thrive by 2028. The changing consumption habits of consumers and their preference for healthier drinks are causes that can benefit the regional market. The increase in the number of companies establishing their businesses in hard seltzer and the introduction of new low blood alcohol solutions into the existing product line of already established companies may set the stage for the market boom. of the EU. The presence of a well-developed e-commerce infrastructure in the region and the increase in sales of low-alcohol drinks on the online platform can promote the expansion of the market.
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