Unbelievable globally growth of Non-Alcoholic Drinks market in 2014 to 2020
Non-Alcoholic Drinks Market: Key Factors at Play in Developed and Developing Economies
Non-Alcoholic Drinks Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020
Consumption patterns in developed and developing countries are typically distinct, owing to a difference in the socio-economic status of consumers here. This difference is highly visible in the global non-alcoholic drinks market. A beverage is considered to be ‘non-alcoholic’ if it has 0.5% or less alcoholic content (this ratio is calculated by volume). For example, beer and wine are available in non-alcoholic variants. In some countries, non-alcoholic drinks are popularly referred to as ‘virgin’ drinks. Other examples of such beverages are: tea, coffee, soft drinks, ready-to-drink beverages, energy drinks, and bottled water.
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Global market figures indicate growth, both in terms of non-alcoholic drinks market revenue and volume. However, a closer look at the regional dynamics reveals that the growth graph of non-alcoholic drinks’ consumption in developed countries (especially in the United States) and developing countries is anything but similar. Globally, the non-alcoholic drinks market is poised to exhibit a compounded annual growth rate (CAGR) of 4.3% in revenue terms, for the period 2014 to 2020. In the same period, by volume, the market is estimated to grow at a CAGR of 4.9%.
The State of the Non-Alcoholic Drinks Market in Developing Economies
In developing economies, new jobs are being created in developing sectors such as construction, information technology, utilities, and automotive. The impact of these new jobs can be felt in the form of increased disposable income and resultant changes in consumer...