Surpassing a valuation of more than US$ 10 billion, the non-alcoholic wine market is projected to grow at an impressive CAGR of over 7 per cent during the forecast period. The beverage industry is undergoing a transformation with the rise of ‘healthier’ categories of non-alcoholic beverage variants such as non-alcoholic wine. Compared to traditional wine, low and non-alcoholic wine is soaring on popularity owing to the development of non-alcoholic wine which has more flavor, depth and sophistication and caters to a large segment of the population. Consumption of non-alcoholic wine and other beverages is increasingly becoming one of the mainstream trends which is shaping the global beverage industry. The convergence of these patterns is underpinning the exponential growth for the non-alcoholic wine market over the forecast period.
Key Takeaways of Non-Alcoholic Wine Market Study
- Europe leads the non-alcoholic wine market, holding shares more than 40 per cent in 2018. The wine markets in Europe are well established with Italy and France having the highest per capita consumption of over 35 liters per person per year.
- Although volume and value growth are modest in Europe, North America is anticipated to be the most important non-alcoholic wine market in the world with a growth rate of over 8 per cent.
- In 2018, the alcohol-free segment comprised more than 50 per cent of the total share of the industry. Increasing adoption of these products as a form of sports drink has enhanced industry growth, especially among athletes.
- Supermarkets represented more than 20 per cent of the total beer market. With several innovative ways to boost consumer spending on non-alcoholic wines, supermarket chains are thriving on increasing sales.
- The online stores segment is projected to grow at the highest growth rate of over 9 per cent between 2019 and 2027. Inclination under the category of non-alcoholic wine to e-commerce and e-tailing is bringing about shifts in customer buying experience.