The global low alcohol beverages market size is expected to reach USD 2.11 billion by 2030, according to a new study by Polaris Market Research. The report “Low Alcohol Beverages Market Share, Size, Trends, Industry Analysis Report, By Product Type (Beer, Wine, Spirit, and RTDs); By Distribution Channel; By Region; Segment Forecast, 2022 - 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The rising consumer awareness of many negative impacts of consuming alcoholic beverages in large quantities, a rise in several health-conscious people, and growing investments and efforts by the manufacturers of low alcohol beverages for the enhancement in taste, quality, and flavors variety are major reasons driving the growth and adoption of these products globally.
Moreover, wines, beers, mocktails, and spirits have gained massive popularity in the last few years with the help of various innovations in flavor, variety, and function as health-conscious consumers are looking for refreshing, flavorful, and refreshing alternatives to traditional alcoholic beverages.
For instance, in August 2022, PURSUE announced the launch of hard seltzer in Mumbai. The newly launched drinks offer an alcohol content of less than 5 percent, & 110 calories, with low 1 percent sugar. The brand now offers four variants, Rose, Mint, Strawberry, & Mosambi, and will be available in almost all top-rated retail outlets and bars.
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In recent years, consumers have been looking for ways to lower their alcohol intake. The ripple effect of global consumers opting for low-alcohol beverages and drinks has resulted in a high need for innovation of a whole new segment of complex-tasting and premium beverages mainly aimed at palates. For instance, in July 2021, Suntory launched its cola flavor to their high-ball portfolio of Jim Beam high bail premix ready-to-drink in Japan.
Furthermore, due to the growing popularity of various products and civilization trends among human societies and a growing selection of lower-alcohol beers, including different citrus-flavored varieties coupled with the rising prevalence of mindful drinking among millennials and Gen-Z, manufacturers are increasing their focus on the introduction of innovative products with the help of embracing adequate marketing strategies like attractive campaigns and packaging. These factors will likely contribute significantly to industry growth shortly.
Low Alcohol Beverages Market Report Highlights
Polaris Market Research has segmented the low alcohol beverages market report based on product type, distribution channel, and region:
Low Alcohol Beverages, Product Type Outlook (Revenue - USD Billion, 2018 - 2030)
Low Alcohol Beverages, Distribution Channel Outlook (Revenue - USD Billion, 2018 - 2030)
Low Alcohol Beverages, Regional Outlook (Revenue - USD Billion, 2018 - 2030)