Sugar-Free Beverages Market Outlook
The sugar-free food and beverage market size is expected to increase by USD 23.56 billion from 2020 to 2028, and the market’s growth momentum will accelerate at a CAGR of 6.63%.
This sugar-free food and beverage market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers sugar-free food and beverage market segmentation by product
These beverages also contain sugar content, but the sweeteners added in these beverages are generally artificial sweeteners like sucralose, neotame, saccharin, aspartame, and stevia. Those who are more inclined towards weight reduction prefer Sugar-Free Beverage Market as these are healthier substitutes and help in reducing the overall sugar intake of an individual. The demand for these beverages is increasing as most consumers are shifting towards healthy attributes. This drink helps in reducing cravings while maintaining a healthy diet.
Competitive Dashboard Analysis
The top players operating in the include Mars Inc. (U.S.), The Hershey Company (U.S.), Unilever (U.K.), Nestlé (Europe), PepsiCo (U.S.), The Coca-Cola Company (U.S.), and The Kraft Heinz Company (U.S.).
Geographically, the Sugar-Free Beverages Market Analysis spans Europe, North America, Asia Pacific, and the Rest of the World (RoW).
Considering the global scenario, the Sugar-Free Beverages Market will be dominated by North America. The soaring demand for calorie-free sweeteners like stevia, especially in the regions of Brazil and the US, increasing health issues like diabetes and obesity, and the surging geriatric population are some of the primary growth stimulants of the regional market. Moreover, the surging rate of competition and the existence of industry bigshots in the region are likely to contribute to the market’s growth.
The Asia Pacific will acquire the second position in the global market owing to surging disposable income, coupled with the rapid shift in consumer preferences. Key players in the region are highly involved in R&D activities to develop new and innovative products and cater to the unmet needs of health-conscious consumers.
The global Sugar-Free Beverages Market has been segmented on the basis of product type, claim, and distribution channel.
By product type, the Sugar-Free Beverages Market is segmented into soft drinks, fruits & vegetable juices, sugar-free carbonated drinks, energy drinks, and others. Of these, the fruits & vegetable juices segment is likely to dominate, mainly due to its health benefits.
The claim segment comprises lactose-free, gluten-free, organic, and others. Of these, the organic segment is estimated to dominate, mainly due to consumers’ inclination towards preservative-free and natural products.
Based on the distribution channel, the market includes store-based, non-store-based. Of these, the store-based segment will command the highest market share owing to the improving and organized retail format across the globe. On the other hand, the recent boom in the e-commerce sector has led to increasing demand for the non-store-based segment.
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