Sugar Free Beverage Market Trends, Forecast & Business Opportunities by 2030
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 insights. 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.
Competitive Dashboard
The
top players operating in the sugar-free beverages market include 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 trends 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 R&D
activities to develop new and innovative products and cater to the unmet needs
of health-conscious consumers.
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.
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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