5.5 Percent Growth Expected For The Global Non-Alcoholic Beverage From 2020 To 2026
Monday, August 3rd, 2020 | 1158 Views
Growth of 5.5 percent is expected for the non-alcoholic beverage market from 2020 to 2026, according to a report by Research and Markets.
Increasing disposable income and the rising trend toward fruit beverages and energy drinks are driving the growth of the market. However, factors that are dampening its growth includes, health concerns with carbonated drinks, environmental pollution by beverage packaging which is a major challenge for companies and the government, and the negative impact due to the COVID-19 pandemic. According to the forecast, metal packaging and packaged water, Iced/RTD tea & coffee will witness considerable growth during the forecast period.
Market players in the industry are adopting growth strategies including mergers & acquisitions, product launches, expansions, partnerships & collaborations to gain a competitive edge in the market. These major players include: The Coca-Cola Co., PepsiCo, Inc., Asahi Group Holdings, Ltd., Danone S.A., Keurig Dr. Pepper Inc., Kirin Holdings Co. Ltd., National Beverage Corp., Nestlé S.A., Parle Agro Pvt. Ltd., Red Bull GmbH, and the Hangzhou Wahaha Group Co., Ltd.
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