Success for the non-alcoholic and low-alcohol category
Non-alcoholic and low-alcoholic beverage categories are becoming increasingly popular, reaching $10 billion in value.
The corresponding categories of non-alcoholic beverages and low-alcoholic beverages increased by more than 6% in volume in 10 key global markets in 2021, according to IWSR Drinks Market Analysis.
The market value of NoLo beverages will rise to nearly $10 billion in 2021 from $7.8 billion in 2018.
IWSR forecasts NoLo and low-alcohol beverage volume to grow 8% CAGR between 2021 and 2025, compared to regular alcohol volume growth of 0.7% CAGR over the same period.
“While January has become a popular month for people to cut back or abstain from alcohol, interest in no- and low-alcohol beverages has increasingly become a year-round trend among consumers around the world,” says Emily Neill, COO of IWSR Drinks Market Analysis.
“To meet that demand, alcoholic beverage companies have invested heavily to introduce a number of new and innovative products, and many established mainstream brands have recently moved to develop no/low-alcohol versions of their popular beers, wines and spirits.”
Don’t drink and drive. Enjoy responsibly.
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