Europe Non-Alcoholic Beer Market value is estimated to reach USD 6 billion by 2024
The worldwide Non-Alcoholic Beer Market is anticipated to witness growth of over 8% by 2024, owing to shifting beverage consumption patterns along with rising preference for low liquor content beverages.
Selbyville, United States – June 21, 2019 /MarketersMedia/ —
Europe market is expected to be valued more than USD 6 billion by 2024 due to the strong presence of low liquor manufacturers along with high adoption rate from consumers. Improved promotional and advertisement activities have boosted product demand. Moreover, increasing popularity among athletes & sportspersons regarding its health benefits will stimulate product demand.
Asia Pacific alcohol free beer market accounted for over 18% of the industry share in 2016. Rapid urbanization and the emergence of the middle-class population are the major factors fueling regional industry growth. China, India, Japan, and Australia are the prominent market owing to the rising consumer income trend is supporting non-alcoholic beverages market growth.
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Global industry share is partially consolidated and highly competitive due to large presence manufacturers and breweries. An increasing number of mergers & acquisitions along with joint ventures is expected to improve product development and strengthen global presence.
Liquor stores accounted over 20% of the low alcohol beer sales in 2016 owing to the rising consumer perception towards better availability of liquor products in these stores. As per AL-KO Kober Company analysis, in 2016, low age bar on low content liquor purchase will boost business expansion. The age limit in Finland is 18 and Denmark is 16 for buying these products.
Dealcoholisation technique accounted for over 80% of the global production in 2016. Enhanced single pass liquor removal by stripping mechanism effective at low temperature & pressure is the major factor propelling technology penetration. Stripping efficacy is boosted by modifying inside production vessel temperature before it is passed into vessel column. Moreover, restricting recirculation necessity substantially lessens overall operating costs and that, in turn, foster non-alcoholic beer market.
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Hops material demand stood over 200 million liters in 2016 for non-alcoholic beer production. The rising demand for an adequate number of flavors forming extra foam to increase creaminess in liquor products will remain key factors driving hops demand. Other vital properties include removal of excess proteins in unfermented conditions and proficiently acts as a natural preservative along with presence of essential oils and acids to deliver appropriate bitterness and aroma.
Alcohol free beer accounted for more than 50% of the overall market share in 2016. Rising health concerns regarding controlling unsuitable drinking habits are major factors boosting business growth. Increasing promotional campaigns for open to all consumption, including pregnant women and sports athletes is projected to drive non-alcoholic beer market share.
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Legislative changes also have a substantial impact on non-alcoholic beer market growth during the forecast timeframe. Additionally, increasing progress of R&D initiatives by several manufacturers to come up with enhanced production technologies will propel product development.
Some of the key non-alcoholic beer market players are Kirin, Erdinger Weibbrau, Suntory, Bernard Brewery, Carlsberg, Drop Brewing Co and Coors Brewing Company. Other prominent participants include Behnoush Iran, Arpanoosh, Heineken, Moscow Brewing Company, Anheuser-Busch InBev, Weihenstephan and Krombacher Brauerei.
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Organization: Global Market Insights, Inc.
Website: https://www.gminsights.com/industry-analysis/non-alcoholic-beer-market
Source: MarketersMedia
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