No/low-alcohol consumption is estimated to increase by a third by 2026, spearheaded by growth of non-alcoholic products which are expected to account for over 90% of the forecast total category volume growth. The study cites improved taste, production techniques and a diversification of consumption occasions that are driving non-alcoholic’s dominance over low alcoholic in many markets and it’s expected that the non-alcoholic category volume will grow at a compound annual growth rate (CAGR) of +9% between 2022 and 2026.

Interestingly, non-alcoholic spirits will see some of the more dynamic growth as brand owners invest in innovation and products are given more space by retailers and on-trade, the study states.

Elevated drinking experiences

Karl Fielding, VP for the Middle East and Africa for non-alcoholic spirits company Lyre’s, says that the non-alcoholic sector is undergoing a revolution in terms of popularity as an increasing number of people are choosing to avoid alcohol on certain occasions or abstain from it completely.

“Consumers’ palates are becoming more adventurous and sophisticated in cuisine and beverage choice. High-end independent restaurants are at the forefront of catering to these desires and that’s where we are seeing the most demand for Lyre’s products,” Fielding explains.

He points out that the ‘sober curious’ and ‘better for you’ lifestyle is driven by many factors. “The 18 to 35-year-old demographic are spending more time than ever across social sharing platforms and building their own identity. We know that post-Covid consumers are spending more time being social, out with friends, but also want to capitalise on their free time with rewarding experiences like going to the gym and experimenting with things like mixology and cooking.”

Courtesy of Bizcommunity – read full article here.