Zero-Proof Cocktails Market Size, Competitive Landscape and Market Forecast - 2029

SKU: DMFB3156 | Last Updated On: Oct 25 2022 | Available Formats

> Global Zero-Proof Cocktails Market Expected to reach a high CAGR By 2029: DataM Intelligence

Global Zero-Proof Cocktails Market is segmented By Type (Crafted, Non-crafted), By Application (Bars, Restaurants, Hotels, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029

 

Market Overview

[180 Pages Report] The Global Zero-Proof Cocktails Market is expected to grow at a CAGR during the forecasting period (2022-2029).

Zero-Proof Cocktails Market- Strategic Insights

Metrics

Details

Market CAGR

High

Segments Covered

By Type, By Application and By Region

Report Insights Covered

Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights.

Fastest Growing Region

Asia Pacific

Largest Market Share 

North America

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A zero-proof cocktail is a beverage that is defined with no involvement of alcohol. It involves a non-alcoholic spirit alternative, which the experts say, can achieve the flavor and complexity of a cocktail and alcohol. Zero-proof cocktails are the go-to cocktail recipe book, cut it out altogether, or simply wants to shake it up a bit. Become a mixology master as an individual get the lowdown on glassware, tools, and mixology terms, and the science of flavor.

Market Dynamics

Adult consumer groups are estimated to be the key buyers over the forecast period. The increasing population of gym-goers, working people, and athletes are anticipated to promote the demand for nutritious drinks, which will boost their functioning and keep their energy level high during the day. This is likely to support the growth of the zero-proof cocktails market in the next few years. Moreover, consumers are moving towards natural and organic food products, which are healthier, tastier, and more nutritious. This consumption trend is increasing in popularity among the young adult population across the globe.

Increasing demand for health consciousness drinks

Rising health awareness has driven the demand for natural ingredients drinks. Consequently, the beverage manufacturers are unleashing innovative low calories and low sugar soft drinks and other natural drinks to cater to the growing demand from health-conscious consumers. Sports drinks, antioxidant beverages, energy drinks, and functional drinks such as probiotic drinks are gaining acceptance among health-conscious consumers and have become a crucial trend in the market. Manufacturers are making attempts to promote various health benefits associated with these products through several marketing strategies including celebrity campaigns.

Rising government initiatives

Governments across the globe are taking initiatives to regulate and limit the intake of alcoholic beverages and promote juices and healthy drinks. The food preferences of the consumers have been shifting steadily to fresh fruit beverages over the past few years. Furthermore, the rising awareness concerning healthy diets, such as raw food diet, fresh fruit juice, and the paleo diet is expected to be the key trends.

COVID-19 Impact Analysis

During the global COVID-19 pandemic crisis and the lockdown across nations, the food & beverage industry witnessed high demand for healthy food items, household staples, and consumables with longer shelf lives. The demand for fruits & vegetables, eggs, frozen food products, flour, and whole grains, among others, witnessed a significant increase during the early stages of the pandemic. In 2020, most companies in the industry have faced with low consumption of their products and challenges related to the supply chain. The companies are focusing more on modifying their supply chains to reinforce their online existence and delivery measures, to adapt to the business environment. The variations in consumer buying behaviour and the dynamic shifts in the direction of online and D2C distribution channels may have serious implications during the forecast period.

 Segmentation Analysis

Based on type, the market is segmented into crafted and non-crafted

The crafted segment is expected to be the lucrative segment in the global market

Crafted zero-proof cocktails are expected to expand at the fastest CAGR over the forecast period owing to their good taste among the end consumers across the globe. This segment is expected to witness significant growth on account of its rising popularity as a nutritional product, which makes sure the bioavailability of nutritional ingredients to the human body.

Based on application, the market is segmented into bars, restaurants, hotels and others

The restaurant's segment is estimated to fuel the demand for zero-proof cocktails

The restaurant's segment is expected to be the fastest-growing segment, expanding at a CAGR of double-digit over the forecast period owing to increasing penetration in developing countries such as India and China. Key manufacturers are adopting marketing strategies, such as celebrity marketing and product advertisement to gain maximum customer penetration.

Geographical Analysis

Based on geography, the study analyzes the zero-proof cocktails market in the global market, including North America, Europe, Asia-Pacific, South America, and the Middle East & Africa.

North America is anticipated to hold the largest share in the global zero-proof cocktails market

North America held the largest share in the global zero-proof cocktails market. The key players of the region have been embracing marketing strategies, including mergers and acquisitions and innovative product launches to cater to the increasing demand for natural, less sugary, and low-calorie content beverages. Asia Pacific is expected to expand at the fastest CAGR over the forecast period. Increasing awareness concerning health benefits associated with non-alcoholic beverages, including saturated fat levels in the body and improvement in cholesterol is driving the market in the region. Major manufacturers are launching new products to cater to the increasing demand from the customers.

Competitive Landscape

The Zero-Proof Cocktails market is highly competitive, owing to the presence of big food brands. The key Zero-Proof Cocktails players which are contributing to the growth of the global market include PepsiCo, Inc.; The Coca-Cola Company; Danone S.A.; Starbucks Corporation; Nestle S.A.; Parle Agro; Suntory Beverage & Food Limited; Keurig Dr Pepper Inc.; Red Bull Gmbh; Unilever, among others. Major players are increasing their product visibility geographically, especially in developed countries, to gain the maximum customer reach. The establishment of R&D centres for product innovation, coupled with strategic partnerships with investment companies to launch new innovative products as per the customer’s demand in the region, is expected to remain a critical success factor over the next few years. Taking into account all the above-mentioned factors, producers are likely to focus on technology innovation to gain maximum market share.

PepsiCo. Inc.:

PepsiCo, Inc. engages in the manufacture, marketing, distribution and sale of beverages, food, and snacks. It is a food and beverage company with a complementary portfolio of brands, including Frito-Lay, Gatorade, Pepsi-Cola, Quaker, and Tropicana. It operates through the following business segments: Frito-Lay North America; Quaker Foods North America; PepsiCo Beverages North America; Latin America; Europe; and Africa, Middle East and South Asia The Frito-Lay North America segment markets, distributes and sells snack foods under the Lay's, Doritos, Cheetos, Tostitos, Fritos, Ruffles, and Santitas brands. The Quaker Foods North America segment includes cereals, rice, and pasta under the Quaker, Aunt Jemima, Quaker Chewy, Cap'n Crunch, Life, and Rice-A-Roni brands. The PepsiCo Beverages North America segment consists of beverage concentrates, fountain syrups, and finished goods under various beverage brands such as Pepsi, Gatorade, Mountain Dew, Diet Pepsi, Aquafina, Diet Mountain Dew, Tropicana Pure Premium, Sierra Mist, and Mug. The Latin America segment covers beverage, food, and snack businesses in the Latin America region. The Europe segment comprises beverage, food, and snack goods in Europe and Sub-Saharan Africa regions. Africa, Middle East and South Asia segments offer snack food products under the Lay's, Kurkure, Chipsy, Doritos, Cheetos, and Crunchy brands. The company was founded by Donald M. Kendall, Sr. and Herman W. Lay in 1965 and is headquartered in Purchase, NY.

Product Portfolio: The Company’s portfolio comprises soft drinks, non-alcoholic drinks, zero alcoholic drinks, snacks, among others

Why Purchase the Report?

  • Visualize the Zero-Proof Cocktails market segmentation composition by type, application and region, highlighting the critical commercial assets and players.
  • Identify commercial opportunities in the Zero-Proof Cocktails market by analyzing trends and co-development deals.
  • Excel data sheet with thousands of data points of Zero-Proof Cocktails market - level 3 segmentation.
  • PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
  • Product mapping in excel for the key product of all major market players

The global Zero-Proof Cocktails market report would provide access to an approx. 48 market data table, 44 figures and 180 pages.

Target Audience

  • Service Providers/ Buyers
  • Industry Investors/Investment Bankers
  • Education & Research Institutes
  • Research Professionals
  • Emerging Companies
  • Manufacturers

FAQ

What is the Zero-Proof Cocktails Market growth?

The market is growing at a high CAGR.

What is Zero-Proof Cocktails Market size in 2021

The Zero-Proof Cocktails Market size was valued at USD YY million in 2021.

Who are the key players in Zero-Proof Cocktails Market?

The Coca-Cola Company; Danone S.A.; Starbucks Corporation; Nestle S.A.; Parle Agro.

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