(EMAILWIRE.COM, May 10, 2023 ) Maximize Market research expects, the Non-alcoholic Spirits Market to grow from USD 538.5 Mn in 2022 to USD 725.49 Mn in 2029 at a CAGR of 4.35 percent.
Non-alcoholic Spirits Market Report Scope and Research Methodology
The objective of the report is to forecast the global Non-alcoholic Spirits market based on segments, type and distribution channel. The bottom-up approach has been used to estimate the market size while the SWOT analysis was used to provide the strengths and weaknesses of the key market players in the Non-alcoholic Spirits industry.
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Non-alcoholic Spirits Market Dynamics
The increasing number of consumers who are adopting mindful and sober lifestyles is majorly driving the market growth. The demand for non-alcoholic spirits is increasing because of the availability of sugar-free and low-sugar products from various manufacturers. The high production cost of non-alcoholic spirits is majorly hampering the market growth.
Non-alcoholic Spirits Market Regional Insights
The North America region is expected to grow at a CAGR of 4.55 percent during the forecast period due to the increasing demand for health-conscious and alcohol options.
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Non-alcoholic Spirits Market Segmentation
By Distribution Channel
Food Retails & Shops
Restaurants and Bars
Non-alcoholic Spirits Key Competitors include:
Lyres Spirit Co.
Ritual Zero Proof
Athletic Brewing Co.
Two Roots Brewing
WellBeing Brewing Company
Le Petit Béret
Thomson & Scott
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Maximize Market Research is leading Food & Beverages research firm, has also published the following reports:
Alcoholic Beverages Market– The market size is expected to reach USD 2893 billion by 2029 at a CAGR of 6.9 percent during the forecast period.
Premium Spirits Market– The market size is expected to reach USD 315.70 billion by 2029 at a CAGR of 10.4 percent during the forecast period.
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Maximize Market Research provides B2B and B2C research on 6,500 high-growth emerging opportunities & technologies as well as threats to the companies across the Healthcare, Pharmaceuticals, Electronics & Communications, Internet of Things, Food and Beverages, Aerospace and Defense and other manufacturing sectors.