Market Overview
Sugar free sweeteners are used in manufacturing of sugar free beverages, this sugar substitutes are not digested and thus the blood glucose level is not elevated. The product comes in various types such as fruit and vegetable juices, soft drinks, energy drinks, dairy beverages, and others. It also comes in a variety of products such as gluten free, organic, and others. Gluten-free & lactose-free beverages will be highest growing segment, are preferred by the consumers because of various health benefits.
Market Forecast
With the growing consumer awareness & their increasing interest in healthy beverages, the demand for sugar free beverage will drive the market growth from 2017 to 2023. Also, with the growth of food advancement in food technology and packaging technology, combined with the innovation and introduction of new attractive packaging has also boosted the sales of sugar free beverages. The growing incidence of diseases such as diabetes and increasing consumer health awareness as well as their consciousness about appearance are the various trends which have led to the adoption of healthy gluten free drinks, which is one of the main variant sugar free beverage come in. Moreover, a healthy diet trend due to the increasing prevalence of various health issues, will play a key role to grow sugar free beverage market at CAGR of 6.4 % during the forecast period.
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Downstream Market Analysis
Globalization and urbanization are major driving force for this market, furthermore popularity of healthy and nutrient-rich beverages are also encouraging the growth of the market. Fruit and vegetable juices will be the highest growing segment in the sugar free beverage market. Additionally, mineral-rich varieties are also expected to gain popularity due to mineral deficiency in the contemporary population owing to unhealthy and hectic lifestyles which result in daily unmet mineral needs.
Competitive Analysis-
The Major Key Players in Sugar Free Beverage Market are
- The Hershey Company (U.S.)
- Mars Inc. (U.S.)
- Nestlé (Europe)
- Unilever (U.K.)
- The Coca-Cola Company (U.S.)
- PepsiCo (U.S.)
- The Kraft Heinz Company (U.S.)
The demand for sugar free beverage has pushed manufacturers to innovate and develop new product line which are better in taste and offers various health benefits.
Regional Analysis
The global sugar free beverage market is segmented into North America, Europe, Asia Pacific, and Rest of the World (ROW). Among this, North American region has major market share followed by Asia Pacific. Changing consumption pattern, rising health awareness, weight reduction diet trends and rising disposable income in Asia Pacific region are anticipated to drive the demand for sugar free beverages in that particular region.
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Market Segmentation–
Global Sugar Free Beverage Market is segmented by Product Type, Form, Special-Food-Type, Distribution Channel and Region
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