Curated News
By: NewsRamp Editorial Staff
November 08, 2024
The Growth Of The Non-Alcoholic Beverage Market
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- IBG is positioning itself to capitalize on the growing non-alcoholic beverage market, leveraging its diverse portfolio and proprietary technology.
- The growth of the non-alcoholic beer and wine market is driven by consumer health consciousness, technological advancements, and regulatory factors.
- The rise of non-alcoholic beverages reflects a positive shift towards healthier lifestyle choices and offers consumers more options for mindful consumption.
- Drummerboy non-alcoholic spirits by IBG, including whiskey, tequila, gin, vermouth, and aperitif, have been awarded and promoted with mocktail recipe guides and tutorials.
Impact - Why it Matters
The growth of the non-alcoholic beverage market is significant as it reflects evolving consumer preferences, health consciousness, and technological advancements. It impacts producers, distributors, and consumers in terms of product innovation, regulation, and market accessibility.
Summary
Society’s tastes and preferences are constantly changing; as such, the most forward-thinking companies strive to anticipate where new preferences may manifest and to be present for interested consumers. In the beverage industry, non-alcoholic beers and wines are gaining prominence amongst consumers, opening the pathway for beverage producers to offer new and refreshing products akin to alcoholic beverages, but without their undesirable effects or long-term health consequences. Striving to become a key player in the non-alcoholic beverage market, Innovation Beverage Group (NASDAQ: IBG) stands out as a developer, manufacturer and marketer of a diverse beverage portfolio. With 60 formulations across 13 alcoholic and non-alcoholic brands, the company is striving to be at the forefront of catering to evolving consumer preferences. According to research by Introspective Market Research (IMR), the global non-alcoholic beer and wine market was estimated at $22.65 billion in 2022 and is projected to reach $37.21 billion by 2030, growing at a CAGR of 6.4%.
Source Statement
This curated news summary relied on this press release disributed by News Direct. Read the source press release here, The Growth Of The Non-Alcoholic Beverage Market
