The traditional market has faced several difficulties – high capex
The non-alcoholic beverage industry in India is anticipated to expand at a compound annual growth rate (CAGR) of 8.85% to reach Rs.601.80 billion by the end of FY 2027, according to a report on 29 Mar 2023.
The use of non-alcoholic beverages has increased nationwide due to consumer preferences shifting and advances in product packaging and to increase affordability, said the “Non-alcoholic Beverages Market in India 2022-2027” report from ResearchAndMarkets.
Due to the high levels of sugar and artificial sweeteners in traditional carbonated soft drinks, a lack of competent labor, and high capital expenditures, the market for traditional non-alcoholic beverages has faced several difficulties.
The non-alcoholic beverages market is segmented into carbonated and non-carbonated beverages. The market for carbonated beverages is projected to surge at a CAGR of 5.57% during FY 2022 to FY 2027 to reach Rs.185.96 billion at the end of the forecast period.
The category of carbonated beverages is anticipated to lose market share during the projected period because of the non-carbonated beverages segment’s quick expansion.
Aerated beverages that are not cola, in particular fruit drinks, have grown in popularity recently. Leading companies are changing their business strategies in response to consumer worries about their health.
The market for non-carbonated beverages has expanded rapidly because of growing consumer health consciousness and easier accessibility.
Major market players like Dabur Limited have introduced their lineup of immunity-boosting vegan-friendly drinks like Dabur Giloy Neem Juice, Dabur Amla Juice and Dabur’s ImuDab Syrup in response to the rising demand for healthy functional drinks following the onset of COVID-19. fiinews.com
