Booze-Free Beverages on the Grow

People are expected to throw back more and more “mock-tails” and other non-alcoholic beverages in coming years, a new study from data firm Technavio concludes. The market size for such beverages is estimated to grow by $281.3 billion from 2024-2028, an annual growth rate 5.43%.

“The non-alcoholic beverages market is thriving with trends like plant-based milks, cold-pressed juices and innovative ingredients,” the study notes. “Consumers, including lactose-intolerant and vegan individuals, seek healthy alternatives such as superfoods, adaptogens and botanical extracts. Beverages offering digestive health, immunity, and antioxidant protection are in high demand.”

Still, the report notes that non-alcoholic beverages face stiff competition from their alcoholic counterparts, “which offer consumers distinct experiences and social contexts. While health consciousness fuels the growth of non-alcoholic alternatives, alcoholic drinks continue to appeal due to deeply rooted cultural traditions and social rituals.”

The study also noted that consumers are drawn to the diverse flavors and styles of alcoholic beverages, such as wines, beers, and spirits, which provide an enjoyable and sophisticated imbibing experience. “Alcoholic beverages are often linked to relaxation and stress relief, and some consumers believe moderate consumption enhances enjoyment and promotes a sense of well-being… This preference for alcoholic beverages may hinder the expansion of the non-alcoholic beverages market during the forecast period.”

Click here for more from the study.