Europe non-alcoholic market could grow to €15.4bn

By: Trademagazin editor Date: 2024. 03. 20. 09:24

The Europe non-alcoholic wine and beer market size reached €8.6bn in 2023 as consumers continued to buy into the category.

According to research by The International Market Analysis Research and Consulting Group (IMARC), the overall market is expected to hit €15.4bn by 2032, with a growth rate of 6.56% during the period from this year until then.

It said that the European market in low- and no-alcohol wine and beer was “witnessing substantial growth” which was driven by a combination of rising health awareness among consumers, and also the growing adoption of low-calories and low-sugar

It claimed that the “increasing consciousness” of the effects of alcohol consumption had escalated demand for non-alcoholic alternatives, but those that offer the taste and experience of traditional alcoholic beverages, which is fuelling the market growth.

Emerging trends in the Europe non-alcoholic market include the increasing investment in R&D activities to “enhance the flavour profile and overall quality of non-alcoholic beverages”, it reported, making them “more appealing to a broader audience”.

In addition, the ease of availability of non-alcoholic wine and beer products through online platforms, including craft and premium options, is also creating a factor for significant growth, it said.

It also reported that the rising number of marketing and promotional activities by key players is “further catalysing the regional market”.

It said: “The adoption of innovative packaging and branding strategies is another key trend, aimed at attracting younger demographics and health-conscious consumers, which is expected to drive the Europe non-alcoholic wine and beer market over the forecasted period.”

The Drinks Business