A report by Market Research Future* projects the low alcohol beverage market to reach $889.7 million by 2028, expanding at 4.3% CAGR.
As for market drivers aiding that growth, Globe Newswire** credits the trend of mindful drinking and the inclination of younger generations to implement healthier drinking habits. Instead, it seems millennial consumers are turning towards hard seltzers with new and exciting flavors, as well as purported health benefits.
Packaging styles with better aesthetics, as well as the advantage of e-commerce allowing for better purchasing experiences, also adds to the low ABV market expansion, according to Globe Newswire.
As low ABV or no alcohol substitutes become popular alternatives for entertainment, “nolo” drinks are emerging as the United Kingdom’s biggest trend among 18 – 24-year-olds.
Looking forward, the low ABV beverage market in North America and the European Union is expected to continue to rise in popularity and market value through 2028.
*Low Alcohol Beverages Market Research Report: Information by Type (Beer, Wine, Spirits, and RTD), by Distribution Channel (Store-Based and Non-Store-Based), by Region (North America, Europe, Asia-Pacific, Rest of World) – Forecast till 2028
**Low Alcohol Beverages Market Worth $ 889.7 Million by 2028 at 4.3% CAGR – Report by Market Research Future (MRFR)