According to estimates from Future Market Insights (FMI), the global zero sugar beverages market is likely to be worth US$ 3,328 million in 2023. It is expected to pick up speed with a CAGR of 14.7% from 2023 to 2033. By 2033, the global market is anticipated to reach a value of around US$ 13,150.6 million.
Premiumization has contributed to bridging the gap between luxurious and normal markets. Hence, all customers can acquire exclusive and innovative products.
Manufacturers of zero-sugar beverages can clearly see how premiumization is beneficial. Consumers are now willing to pay more for products with value-added features and actual benefits.
They are becoming more confident in the brand name and clean labelling. Considering product quality, leading manufacturers are concentrating on improving consumer-end products.
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With increasing number of zero-sugar beverages available, modern consumers are able to find products that fit their specific needs and preferences, whether it’s for taste, convenience, or nutrition. Common flavors available in the zero sugar beverages industry are cola, orange, lemon, watermelon, guarana, grape, and strawberry. Zero sugar beverages are also available in cans, PET bottles, and glass bottles.
There is a growing trend among consumers to opt for beverages made from natural ingredients without any added sugar. There is also an observable shift toward consuming natural food additives and sugar substitutes.
To cater to increasing demand for sustainable beverages, manufacturers are creating products with natural ingredient compositions and reduced processing. This is evident through the labeling of beverages as ‘no added sugar,’ ‘zero sugar,’ ‘light,’ and ‘diet,’ which aid consumers in making informed buying decisions.
Leading companies often introduce new products featuring unique flavors and promote them as either a ‘new edition’ or a ‘limited edition.’ This marketing strategy generates excitement and anticipation among consumers even before the product is released, which can benefit the product’s reception in the market.
For example, Coca-Cola launched a Grammy-nominated Marshmello-inspired limited edition zero-sugar Coca-Cola drink in June 2022. This new product featured a blend of natural flavors, including strawberry and watermelon. This approach allows companies to not only promote their brand, but also generate interest in their latest offerings.
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Key Takeaways from the Zero Sugar Beverages Market Report:
- The zero sugar beverages industry witnessed moderate growth at a CAGR of 12.5% between 2018 and 2022.
- Based on sales channel, the retail sales segment is expected to hold the lion’s share in the evaluation period.
- North America is currently at the top in terms of the global zero sugar beverages industry share.
- The global zero sugar beverages industry is set to exceed a value of more than US$ 13,150.6 million by 2033.
- By product type, the sparkling soft drink category is anticipated to generate a leading share by 2033.
“It is anticipated that consumers will use plant-based sweeteners such as stevia and monk fruit more frequently. These provide a healthy, calorie-free substitute for conventional sweeteners. The market is also set to experience a surging product innovation. Leading businesses are getting ready to introduce fresh flavors and useful components to appeal to consumers who are health-conscious.” – Says a lead analyst.
Competitive Landscape
The competitive landscape is fueled by the presence of key national and international players. Leading Companies are implementing mergers & acquisitions and new product launches as key strategies to compete in the market.
Acquisitions and mergers have facilitated companies to improve product quality and expand product reach. Moreover, launching new products in the market has supported the companies to offer demanded quality products and meet the changing consumer trends across the industry.
Key Industry Developments:
- In February 2023, using 1 billion probiotics and prebiotics, Cove Gut Healthy Drinks introduced Cove Gut Healthy Soda. It is a sugar-free and functional soda. There are three flavors of Cove Soda: orange, grape, and lemon lime. The product line, which is reportedly the first to hit the market in Canada, is manufactured with organic ingredients. It also includes a natural plant sweetener that mixes prebiotics with probiotics to improve gut health.
- In July 2022, a sugar-free cola-flavored drink was planned to be introduced by China-based beverage giant Genki Forest. The new beverage has passed its final internal tests and will go on sale as soon as the first of August, with an early release scheduled for online retail sites. This action indicates that the soft drink entrant will be competing with Coca-Cola and Pepsi’s premium product lines. The secret to this product is the development of an internal sterile carbonic acid manufacturing plant.
Get More Valuable Insights into Zero Sugar Beverages Market
Future Market Insights (FMI), in its new offering, provides an unbiased analysis of the global zero sugar beverages industry presenting historical demand data (2018 to 2022) and forecast statistics for the period from 2023 to 2033.
The study incorporates compelling insights on the global zero sugar beverages market based on product type (juices, sparkling soft drinks, energy drinks, sports drinks), sales channel (B2B/HoReCa, retail sales), and region.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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