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Sales of Non-Alcoholic Wine to Double by 2031 with Heightened Demand for Alcohol-Free Wine Products. Almost 75% of Non-Alcoholic Wine Sales to Come from Still Non-Alcoholic Wine: Fact. MR
Growing prevalence of heart diseases due to the consumption of alcohol has driven the consumers to opt for alcohol-free wine to reduce the risk of the diseases. Hence, the demand for sparkling non-alcoholic wine will accelerate during the forecast period.
Sales of still non-alcoholic wine are estimated to decrease and contrary to this, the demand for flavored non-alcoholic wine is expected to increase. As per the report, non-alcoholic grape wine is estimated to be the most preferred product type over the coming years.
Steered by the growing trend of non-alcoholic wine consumption, premium brands are introducing sparkling non-alcoholic wines to cater the surging demand. As per Fact.MR, the alcohol-free wine market will account for more than 78.3% of the market share.
Advent of efficient and user-friendly online channels have made it easier for consumers to purchase their favorite beverage. Especially, following the outbreak of COVID-19, consumers purchase via online channels has increased as they avoided stepping out in fear of contracting the disease.
As a result of convenience of online shopping, which also offers the scope for comparing product and price with other brands, an increasing number of players are collaborating with e-commerce websites such as Amazon, Dan Murphy's and others to recover from the losses incurred due to the pandemic. Backed by aforementioned factors, the market is expected to top the valuation of US$ 4.5 Bn by 2031.
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As per Fact.MR, the market is highly competitive as demand for non-alcoholic wines continue to increase in the market. Key players are focusing on mergers and acquisition to establish their global presence in the industry.
Some of the leading market players operating in the non-alcoholic wine market profiled by Fact.MR are:
Fact.MR, in its new report, offers an unbiased analysis of the global non-alcoholic wine market, analyzing forecast statistics through 2021 and beyond. The survey reveals growth projections on in non-alcoholic wine market with detailed segmentation:
Non-Alcoholic Beer Market - Non-alcoholic beer is becoming popular as a recovery drink among young athletes. Furthermore, with the introduction of healthier non-alcoholic beverages, the beverage industry is undergoing a massive transformation. The non-alcoholic beer landscape is being fueled by the millennial generation's willingness to experiment with newer flavours in mixed beers beverages. Growing consumer interest in ethically and organically sourced products opens up opportunities for ethically traded non-alcoholic beers.
Sparkling Wine Market - The modern trade segment accounts for more than a third of the revenue in the sparkling wine market by sales channel segment, and companies should target this distribution channel with a laser-like focus. In comparison, the grocery store segment is much smaller, but it cannot be completely ignored in the sparkling wine market. Despite the fact that Europe is expected to maintain its dominant position in the grocery store segment, Latin America is on track to have the highest CAGR and may be viewed as a strong alternative option.
Cannabis Infused Drinks Market - The global market has seen an increase in the popularity of non-alcoholic beverages with low calorie content and high nutritional value. The emergence of this beverage category has been largely driven by private-label companies and start-ups that are heavily leveraging cannabis's medicinal benefits and producing products that would allow cannabis use in a socially acceptable, widely recognized, and convenient manner. Non-alcoholic infused drink sales are surging, accounting for nearly half of total demand.
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