Non-Alcoholic Wine Market is Expected to Grow at a CAGR of 10.4% by 2032 End

As per a latest study by Fact.MR – a market research and competitive intelligence provider, the global non-alcoholic wine market is projected to surge at a CAGR of 10.4% and top a valuation of US$ 4.5 Bn by 2031.

A study of 10,000 young people conducted at the University College London discovered that non-drinking is becoming more accepted, while binge drinking is becoming less mainstream. Researchers also discovered that 29% of 16-24-year-olds were non-drinkers in 2016, while binge drinking rates declined from 27% to 8% during the same period. However, the sober curious trend is not limited to a single generation. According to studies, older generations are also attempting to minimize their alcohol consumption. The trend is likely to gain traction as a result of growing health concerns, both, physical and mental, associated with alcohol intake.

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With mindful drinking becoming popular, global beverage manufacturers are looking into alternatives, and several others have emerged to create alcohol-free beverages that would fit in with a trendy cocktail menu. For instance, it is expected that non-alcoholic wine manufacturers claiming to be environmentally friendly will proliferate over the coming years.

Key Takeaways from Market Study

  • The U.S. is estimated to account for more than 83% of the North American market, supported by growing number of mindful drinkers in the country.
  • China is estimated to account for 47.6% of the East Asian market share, driven by a strong supply chain.
  • Italy is one of the potential markets in Europe, accounting for 15.2% of the value share, owing to high consumption wine and wine products.
  • Still wine is anticipated to hold nearly 73% of the market share, but sparkling wine is expected to witness higher growth at a CAGR of 11.1% over the 2021 to 2031 forecast period.
  • The alcohol-free wine market reflects around 78.3% of the market share, owing to its health benefits, and is estimated to surge at 11.3% CAGR.

“Introduction of a broad range of novel non-alcoholic wine products and increasing emphasis on health benefits associated with mindful drinking are estimated to boost market growth over the decade” said a lead analyst at Fact.MR.

How is Premiumisation Driving Sales of Non-Alcoholic Wine?

In recent years, the food and beverage industry has witnessed a trend towards premium products. Premiumisation of dealcoholized wines is gaining traction owing to greater emphasis on flavor, high-quality ingredients, and more appealing packaging. Consumers perceive non-alcoholic wine as a product worth spending money on.

The premiumization trend is being driven primarily by millennial consumers. According to the report, 54% of 18-34-year-olds are more inclined to choose a premium beverage than only 35% of those over 55 years of age.

Most of the recent growth in premium beverage sales has been attributed to the widespread success of premium-quality wine, with customers frequently purchasing novel products. According to several studies, 40% of global consumers claim to have purchased premium non-alcoholic beverages occasionally, and this figure is expected to rise further, boosting demand for dealcoholized wine.

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