This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.
Zero-ABV ‘spirits’ could reach $271bn
The global non-alcoholic ‘spirits’ sector is estimated to be worth US$271 billion by 2033, a new report revealed.
Fact.MR’s analysis of the zero-proof ‘spirits’ sector explored 30-plus markets, including the US, Canada, the UK, Germany, France, Nordics, GCC countries, China, Japan, and Korea.
It covered companies including Arkay Beverages, Ritual Zero Proof, Strykk, Cut Above, Ceder’s, Sober Spirits, and Pentire Drinks, among others.
According to the report, the worldwide zero-ABV ‘spirits’ category is predicted to increase at a compound annual growth rate (CAGR) of 9% between 2023 and 2033, with an absolute dollar potential of US$156.5 million.
The sector was worth US$104.3bn last year, after expanding from a 9.9% CAGR in the four years to 2022, the report claimed.
Fact.MR said zero-proof ‘whisky’ would likely lead sales for the sector, posting an estimated CAGR of 8.9% in the next 10 years.
The UK market for non-alcoholic ‘spirits’ is expected to be valued at US$12.6bn by 2033, with an absolute dollar increase of US$6.8bn.
From 2018 to 2022, the country’s market grew at an 8.7% CAGR and is predicted to post an 8.2% CAGR in the 10 years to 2023.
In 2020, non-alcoholic ‘spirits’ sales in the UK soared by 35.8% year on year, reaching approximately US$24.2bn in value, Fact.MR said.
The US market for zero-ABV ‘spirits’ is expected to be worth US$85bn by 2033, growing at a CAGR of 7.8% over the 10-year period.
Fact.MR said the US rose by a CAGR of 8.4% in the last four years.
The Chinese market is estimated to be worth US$23.2bn over the next decade. In the last four years, the country grew at a CAGR of 11.5% and is predicted to rise by 10% (CAGR 2023-2033).
Non-alcoholic drinks sales in China were valued at approximately US$190bn in 2018, with a CAGR increase of 6.8% over the 10-year projection period.
The South Korea market for alcohol-free ‘spirits’ is expected to grow to US$10.9bn by 2033, posting a CAGR increase of 9.3% over the next decade.
The report noted that global non-alcoholic beverage sales, including soft drinks, tea and coffee, were valued at roughly US$1.3 trillion in 2020, up from around US$1.2tn in 2018.
The value of the no- and low-alcohol category in 2022 surpassed US$11bn in 10 key markets, according to IWSR Drinks Market Analysis.
Data from the IWSR revealed non-alcoholic ‘spirits’ volume climbed by 38% in the UK last year.
Fact.MR recently estimated that the global Cognac sector would be worth US$10.2bn over the next 10 years.
Related news