study published in January 2020 by Future market Insights (FMI)* forecasted that the non-alcoholic malt beverages market size will reach a stunning 37 million USD by 2028, showing a steady rise at 4% CAGR between 2019 and 2028. Here, it worth mentioning that in 2018 the estimated value of the market was 25 million USD.
Global non-alcoholic malt beverages market constitutes of North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan, and MEA. Interestingly, the research showed that Asia Pacific, excluding Japan, emerged as a key market for malt beverages joining Western Europe and North America that have traditionally been key markets. The study revealed that the highest growth rate over the forecast period is expecting in Asia Pacific and that the health benefits of malt beverages including lower calorie content compared to other carbonated drinks aids market penetration in emerging markets.
Rising health consciousness, intention to reduce alcohol consumption, rising demand for convenient food (including drinks) are just some parameters associated with rapid urbanisation that drives sales of non-alcoholic malt beverages. When it comes to pricing, the situation favours premiumness as consumers are happy to pay more for products that help them market a statement of higher living standard. Rising disposable income and westernisation are two other factors driving increased spending in non-alcoholic malt beverages.
The study by FMI concludes that non-alcoholic malt beverages can stand between carbonated/soda drinks and dairy-based non-alcoholic malt beverages. Flavours like classic/natural, apple, berries, peach, citrus, pomegranate, mixed fruit, coffee / cocoa and others may experience success while packaging has its own role to play. Finally, non-alcoholic malt beverages can be distributed in a range of channels including modern trade, traditional trade and online retail.
If you want to find out how Photos Photiades Breweries can help you penetrate the non-alcoholic malt beverage market please get in contact with us. We can offer a range of flavoured non-alcoholic malt beverages in bottles and aluminium cans of different sizes to meet your current market requirements.
* Non-alcoholic Malt Beverages Market: Global Industry Analysis 2013-2017 and Opportunity Assessment, 2018-2028