The Increasing Demand For Health-Conscious And Mindful Drinking Alternatives Is A Key Driving Force That Is Shaping The Zero-Proof Market.

ROCKVILLE, MARYLAND, UNITED STATES, October 11, 2023 /EINPresswire.com/ -- The United States zero proof spirit market size is on track to reach a valuation of US$ 89 million by 2033, reflecting an impressive absolute dollar growth of US$ 45 billion from 2023 to 2033. The market in the United States has exhibited robust growth, boasting a Compound Annual Growth Rate (CAGR) of 8.4% from 2018 to 2022 and is anticipated to continue this positive trajectory with a CAGR of 7.8% from 2023 to 2033.

A recently released market analysis report by Fact.MR unveils that global sales in the zero proof spirit market for 2022 amounted to US$ 104.3 million. With a projected 10% growth expected from 2023 to 2033, the market is forecasted to achieve a substantial valuation of US$ 271 million by the conclusion of the forecast period.

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Key Takeaways:

1.US Zero-proof spirit market is expected to witness a CAGR of 7.8% during the forecast period. Moreover, North America is expected to be the prominent
shareholder in the market.

2.In China, the market is expected to grow at 10% during the forecast period.

3.By category, Zero-proof whiskey is expected to witness a significant demand with a CAGR of 9.7% and is expected to grow at a CAGR of 8.9% during the
forecast period.

The surge in demand for health-conscious and mindful drinking options, legal constraints on alcohol consumption in specific contexts, and an increasing consumer preference for inclusivity in social gatherings are some key factors driving the market- Says FACTMR Expert

Key Drivers:

Zero-Proof Spirits: Crafting Authentic Taste, Minus the Alcohol: Zero-proof spirits are crafted non-alcoholic beverages designed to faithfully replicate the taste, aroma, and texture of traditional alcoholic spirits, such as gin, whiskey, or rum, all while completely devoid of alcohol content. These innovative libations are typically created by skillfully blending a diverse array of botanicals, fruits, and other natural ingredients, resulting in a sophisticated and nuanced flavor profile that mirrors that of alcoholic spirits.

A Growing Wave of Non-Alcoholic Beverages: In 2020, the global non-alcoholic beverage sales reached a substantial valuation of approximately US$ 1.3 trillion, marking a notable increase from the US$ 1.2 trillion recorded in 2018. This extensive category encompasses an array of beverages, including carbonated soft drinks, fruit juices, sports drinks, energy drinks, and ready-to-drink tea and coffee, among others. As consumers increasingly gravitate toward healthier lifestyle choices, the quest for low or zero-alcohol alternatives has gained significant momentum. This shift is particularly pronounced among younger generations, who exhibit heightened health consciousness compared to their predecessors. The rising demand for non-alcoholic beverages has acted as a potent catalyst for market growth.

Innovations in the Zero-Proof Spirit Landscape: In October 2021, Ritual Zero Proof made waves by introducing their liquor replacement line, featuring Gin, Whisky, and Tequila Spirit Alternatives, which became available at Whole Foods Market outlets across the United States, with further accessibility on Amazon.

Competitive Analysis:

A few of the recent developments in the market are :

In September 2021, Diageo, the world's largest producer of spirits, announced the launch of a new alcohol-free spirit called "Lunya". The product is made with a blend of botanicals and is aimed at the growing number of consumers who are choosing to drink less alcohol.

In May 2021, Arkay Beverages announced the launch of new alcohol-free vodka made from non-GMO corn. The vodka is part of the company's expanding line of non-alcoholic spirits, which includes whiskey, gin, and tequila alternatives.

In January 2021, Arkay Beverages announced the opening of a new bottling plant in Mexico, which will allow the company to expand its production and distribution capabilities in North America

Key Companies Covered:

-Ritual Zero Proof
-Optimist Botanicals
-Cut Above Spirits
-Ghia
-Strykk
-Drink Monday
-Ceder’s.
-Rasasvada LLC.
-Svami
-Sober
-Pentire Drinks

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Segmentation of the Zero Proof Spirit Market:

By Type :
-Gin
-Rum
-Whiskey
-Tequila
-Vodka

By Packaging Type :
-Bottle
-Can

By Sales Channel :
-Online Sales
-Supermarkets/Hypermarkets
-Convenience Stores
-Restaurants & Bars

By Region :
-North America
-Latin America
-Europe
-Asia Pacific
-Middle East & Africa

Check out more related studies published by Fact.MR Research:

Whiskey Market: The global whiskey market is projected to expand steadily at a CAGR 6% value, during the forecast period 2022-2032. In the year 2022, the market size is projected to expand and gain a global market valuation of US$ 62 Billion.

Craft Beer Market: The global craft beer market was estimated to have a valuation of US$ 76.3 Bn in 2020 and have reached US$ 81.64 Billion in 2021. The market is going to witness a steady CAGR rate of 6.9%, during the forecast period 2022-2032.

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