Non-alcoholic Spirits Market to Reach $706.7 Million, Globally, by 2033 at 8.1% CAGR: Allied Market Research (2024)

"The market is further fueled by innovativeproduct offerings from both established beverage companies and newentrants, emphasizing natural ingredients and functional benefits.Additionally, the rise of sober-curious movements and wellnesstrends, coupled with the expansion of availability in bars,restaurants, and retail, are propelling the market's expansionglobally."

WILMINGTON, Del., Aug. 5, 2024/PRNewswire/ -- Allied Market Research published a report,titled,"Non-alcoholic Spirits MarketbyProduct Type (Whiskey, Rum, Vodka, Tequila, and Others), Category(Conventional and Organic) and Distribution Channel (Food Serviceand Food Retail): Global Opportunity Analysis and IndustryForecast, 2024-2033". According to the report, thenon-alcoholic spirits market was valued at $325.8 million in 2023 and is estimated to reach$706.7 million by 2033, growing at aCAGR of 8.1% from 2024 to 2033.

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Prime determinants of growth

The Non-Alcoholic Spirits Market is driven by rising healthconsciousness, a growing trend towards mindful drinking, andincreasing demand for premium, sophisticated non-alcoholicbeverages. Consumers are seeking healthier lifestyles and are moreaware of the adverse effects of alcohol, prompting a shift towardsalcohol-free alternatives that do not compromise on taste orexperience. The market benefits from innovative product offeringsthat replicate the complexity of traditional spirits, appealing toboth teetotalers and occasional drinkers.

Social media and influencer marketing amplify this trend,showcasing non-alcoholic options as stylish and desirable.Additionally, the expanding availability of non-alcoholic spiritsin restaurants, bars, and retail outlets enhances accessibility andconsumer adoption. Opportunities lie in developing new flavors,expanding into emerging markets, and leveraging sustainable andorganic ingredients to cater to eco-conscious consumers.

Report Coverage & details:

Whisky segment to maintain its leadershipstatus throughout the forecast period.

By product type, the whisky segment held the major share of themarket share in 2023, accounting for more than one-third of theglobal non-alcoholic spirits market, and is estimated to maintainits leadership status throughout the forecast period. Whiskyalternatives are gaining popularity owing to the increasing demandfor healthy drink alternatives and non-alcoholic beverages. Thenegative effects associated with whisky having alcohol content isone of the prime reasons for the growth of the non-alcoholic whiskymarket, as it is free from alcohol.

However, the tequila segment is projected to manifest thehighest CAGR of 9.1% from 2024 to 2033. The increasing R&Dinvestments by manufacturers are expected to lead to more uniquenon-alcohol alternatives, which will align with health-relatedconsumption patterns.

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Conventionalsegment to retain itsdominance by 2033

Based on category, the conventional segment held the major shareof the market in 2023, accounting for more than four-fifths of theglobal non-alcoholic spirits market, and is estimated to maintainits leadership status throughout the forecast period. Thenon-alcoholic spirits manufactured with conventional ingredientsare less costly compared to the organic ones. Also, theconventional ingredients are easy to procure. Thus, theconventional segment is expected to garner a maximum share innon-alcoholic spirits owing to the ease in availability ofingredients at low prices.

However, the organic segment is projected to manifest thehighest CAGR of 9.2% from 2024 to 2033. The increasing demand fororganic products is one of the major drivers of the growth of thissegment. Furthermore, growing awareness regarding the benefitsrelated to organic product consumption will boost marketgrowth.

The food retail segment to maintain itsleadership status throughout the forecast period.

By distribution channel, the food retail segment held the majorshare of the market share in 2023, accounting for more than half ofthe global non-alcoholic spirits market, and is estimated tomaintain its leadership status throughout the forecast period. Theavailability and visibility of products on shelves for consumerswill push the market demand for store-based channels. Store-basedchannels offer various products to choose from a single type.Consumers can also compare prices, ingredients, and quantities fora wide variety of products through this and select a product thatwill suit their requirements.

However, the food service segment is projected to manifest thehighest CAGR of 8.9% from 2024 to 2033. The growth of the foodservice sector is one of the prime factors that will drive marketdemand during the forecast period. Increasing the availability ofproducts through foodservice channels is also propelling marketdemand.

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Europe tomaintain its dominance by 2035

Based on region, Europe regionheld the highest market share in terms of revenue in 2023,accounting for nearly one-third of the global non-alcoholic spiritsmarket. Economic stability and high spending capabilities ofconsumers are some of the major reasons for the growth of thenon-alcoholic spirits market in Europe. Apart from that, consumer trend towardfortified beverages is expected to drive the market demand. Forinstance, The Free Spirits Company offers spirits alternatives thatare infused with vitamins B3 and B6 along with naturally upliftingamino acids such as taurine. Moreover, product launches in thenon-alcoholic spirits category by various manufacturers owing toincreasing consumer inclination towards Dry January are expected tocreate an opportunity in the non-alcoholic spirits market.

Leading Market Players

• Bacardi Limited
• Caleño
• Pernod Ricard
• Rheinland Distillers GmbH
• Diageo plc.
• la martiniquaise
• Everleaf Drinks
• ArKay Beverages LTD
• Spirits of Virtue
• Spiritless Inc
• ALTD SPIRITS
• Ritual Zero Proof
• Aplós
• Ecology & Co.
• Lyre's Spirit Co
• Elegantly Spirited LTD
• Salcombe Distilling Co
• Drink Monday
• FLUÈRE
• Escape Mocktails

The report analyzes these key players in theglobalnon-alcoholic spirits market. These players haveadopted various strategies such as expansion, new product launches,partnerships, and others to increase their market penetration andstrengthen their position in the industry. The report is helpful indetermining the business performance, operating segments,developments, and product portfolios of every market player.

Recent Key Strategies and Developments

• In 2023, Pernod Ricard acquired a majority stake in Código1530, an ultra-premium and prestige tequila, Skrewball, asuper-premium whiskey, and ACE Beverage Group, the Canadian RTDmarket leader.
• In 2023, Coca-Cola Company and Pernod Ricard partnered onAbsolut Vodka with Sprite.
• In 2023, Pernod Ricard announced a €238 million investment inthe construction of a carbon-neutral Jefferson's distillery inKentucky. The signing of firstsustainability-linked loan for €2.1 billion euros.
• In 2023, Diageo announced that it had completed the acquisitionof Don Papa Rum, a super-premium, dark rum from the Philippines.

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