LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the global low-alcohol beverages market is projected to grow to 38.06 billion liters (by volume) by 2021, at a CAGR of more than 7% over the forecast period.
This research report titled ‘Global Low-alcohol Beverages Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.
Low alcohol beverages are the beverages which have 0.5% to 5.5% maximum ABV (alcohol by volume). These low alcohol beverages are safer and healthier, and are very appealing to the health-conscious consumer demographic. Since this demographic is swiftly increasing, it is resulting in the growth of the low alcohol beverage market.
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Based on the product type, the report categorizes the global low-alcohol beverages market into the following segments:
- Low-alcohol beer
- Low-alcohol wine
- Low-alcohol RTD’s
- Low-alcohol cider
- Low-alcohol spirits
The top three revenue-generating product segments in the global low-alcohol beverages market are discussed below:
Low-alcohol beer
“Low alcohol beer occupied a majority 66% of the global low alcohol beverage market in 2016. The rising popularity of conventional beer among consumers and its associated health benefits is driving the sales of the product,” says Manjunath Reddy, a lead analyst at Technavio for alcoholic beverages research.
Currently, many consumers are looking for low alcohol beer with bolder flavors and a higher volume of fermentable ingredients, pushing vendors to introduce low-strength beers in a variety of flavors with various unique ingredients to compensate for their low-alcohol content. The optimal use of marketing and right store visibility is expected to further boost market growth.
Low-alcohol wine
Low alcohol wine is witnessing high adoption rates, and the market segment is projected to reach 4.78 billion liters by 2021. The increase in wine consumption by women, increased focus on health, the rise in the number of local wineries, and an increase in number of new product launches are the key factors driving the growth of the low alcohol wine market. The low alcohol wines also aid in compliance with drink-drive laws, staying clear headed, and saving money through tad reliefs.
Low-alcohol RTDs
“Low alcohol RTD drinks are projected to be the fastest-growing segment of the market, expected to grow at a CAGR of over 8% through 2021. These drinks are becoming popular among consumers who are looking to save some time and have busy schedules,” says Manjunath.
The convenience factor associated with the low alcohol RTD drinks is increasing the demand for these products. Also, the lower alcohol content of RTD drinks projects them as a good option for health-conscious consumers who want to enjoy a drink.
The top vendors highlighted by Technavio’s research analysts in this report are:
- Anheuser-Busch InBev
- Carlsberg Group
- Constellation Brands
- Bacardi Limites
Browse Related Reports:
- Global Vermouth Market 2017-2021
- Global Tequila Market 2017-2021
- Global Spirit-based RTD Mixes Market 2017-2021
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