Sugar-Free Beverages Market Overview
The Sugar-Free Beverage Market will acquire a CAGR of 7.23% and a significant value in the forecast period between 2023 to 2030.
A healthy substitute for sugar-based beverages is sugar-free beverages. The increased cases of obesity and high blood sugar levels are the reason behind the growth of the Sugar-Free Beverages Market. Sugar-free beverages are considered the best alternatives for sugar-based.
The demand and love for fizzy carbonated drinks like seltzer, energy drinks, sparkling water, sports drinks, and soft drinks with health concerns are driving the sugar-free beverages market. The sugar content in regular carbonated drinks is harmful to health. Due to this, the consumers are inclined toward the sugar-free substitute of carbonated drinks. Higher sugar consumption leads to obesity and various health risks relating to diseases like diabetes, high blood pressure, heart disease, and certain cancers. Major growth factors such as the increased rate of health consciousness and health awareness among the global population are boosting the Sugar-Free Beverages Market demand. The desire of the young generation to look active and fit is another major driver fueling up the market.
The higher growth of fast-food chains such as KFC, Domino's, and Burger King exponentially contributes to the market's growth. These fast-food chains are increasing the sales of sugar-free beverages.
Competitive Landscape
The most prominent major key players in the sugar-free beverages market all across the globe are mentioned below:
The Kraft Heinz Company (US)
PepsiCo (US)
The Coca-Cola Company (US)
Unilever (UK)
Nestle (Europe)
Mars Inc. (US)
The Hershey Company (US)
Market Segments
The Sugar-Free Beverages Market is segmented based on product type, claims, and distribution channel.
The product type segment is bifurcated into energy drinks, soft drinks, dairy beverages, fruits and vegetable juices, and others. Fruits and vegetable juices capture the largest market share in the market due to their health benefits.
The claim segment of the market is categorized into organic, gluten-free, lactose-free, and others. The organic segment holds the largest market share due to consumers' rise in dependency on natural products and preservative-free products.
The distribution channel of the market has various channels, such as store-based physical channels and non-store-based distribution channels. The store-based channel captures the largest market share due to improving retail format.
Regional Analysis
The Sugar-Free Beverages Market covers prominent regions around the world, such as the North American region, Asia-Pacific, European Union, and the Middle East and Africa.
The Sugar-Free Beverages Market in North American region captures the maximum share of the market. The region dominates the market due to prominent countries such as the US, Canada, and Mexico.
The Asia-Pacific obtains the second-largest market share in the global market. Countries such as Australia, India, Japan, and China capture the chief proportion of the population all across; therefore, it is heading toward higher demand for sugar-free beverages. The higher disposable income is also accelerating the market demand.
The European Union holds the third-largest share due to countries like the U.K., Italy, France, Germany, Spain, and others. The health infrastructure improvement offers higher growth opportunities in this region. Consumers of this region invest money in their well-being.
Latin America and the Middle East, and African countries are noticing moderate growth rates in the forecast period. Countries like Argentina, Brazil, and South Africa are present in this region. The poor infrastructure and lack of awareness are hampering the market in this region.
Industry News
In October 2021, Beyond Better Foods released the latest edition of sugar-free cookie lines. It is available in three variants: P.B. chocolate chunk, chocolate chip, and double chocolate. The new products are made with zero grams of added sugar.
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