Non-Alcoholic Drinks - ASEAN

The Non-Alcoholic Drinks market in ASEAN has been experiencing significant growth in recent years.

Customer preferences: Customers in ASEAN countries have shown a growing preference for healthier beverage options, which has led to an increased demand for non-alcoholic drinks. Health-conscious consumers are seeking beverages that are low in sugar, calories, and artificial additives, and instead are looking for natural and organic ingredients. This shift in consumer preferences has prompted many companies to develop and market a wide range of non-alcoholic drinks that cater to these specific needs.

Trends in the market: One of the key trends in the Non-Alcoholic Drinks market in ASEAN is the rising popularity of functional beverages. Functional beverages are drinks that offer additional health benefits beyond basic hydration. These beverages often contain vitamins, minerals, antioxidants, or other bioactive compounds that are believed to promote health and well-being. Consumers in ASEAN countries are increasingly turning to functional beverages as a convenient and accessible way to improve their overall health and wellness. Another trend in the market is the growing demand for ready-to-drink (RTD) beverages. RTD beverages are pre-packaged drinks that are ready for immediate consumption. The convenience of RTD beverages makes them a popular choice among busy consumers who are looking for quick and easy refreshment on the go. This trend has been particularly evident in urban areas, where consumers have limited time and are constantly on the move.

Local special circumstances: One of the unique aspects of the Non-Alcoholic Drinks market in ASEAN is the rich cultural diversity of the region. Each country in ASEAN has its own unique beverage traditions and preferences, which has led to a wide variety of non-alcoholic drinks being consumed across the region. For example, in Thailand, herbal drinks such as butterfly pea tea and lemongrass tea are popular choices, while in Indonesia, coconut water is a staple beverage. This diversity in preferences presents both opportunities and challenges for companies operating in the ASEAN market, as they need to tailor their products to suit the specific tastes and preferences of each country.

Underlying macroeconomic factors: Several macroeconomic factors have contributed to the growth of the Non-Alcoholic Drinks market in ASEAN. One of the key factors is the region's strong economic growth and rising disposable incomes. As ASEAN countries continue to develop and urbanize, more consumers have the means to afford non-alcoholic drinks as part of their daily consumption. Additionally, the region's young and growing population has also played a role in driving demand for non-alcoholic beverages. Younger consumers are more health-conscious and are actively seeking out healthier beverage options, which has fuelled the growth of the market. In conclusion, the Non-Alcoholic Drinks market in ASEAN is experiencing significant growth due to changing customer preferences, the emergence of new trends, the unique local circumstances of each country, and strong underlying macroeconomic factors. As the market continues to evolve, companies will need to stay attuned to these factors in order to capitalize on the opportunities presented by the growing demand for non-alcoholic beverages in the region.

Data coverage:

The data encompasses B2C enterprises. The at-home market covers retail sales via super- and hypermarkets, eCommerce, convenience stores, or similar sales channels. The out-of-home data encompasses all sales to hotels, restaurants, catering, cafés, bars, and similar hospitality service establishments. Combined numbers encompass both the at-home market and the out-of-home market. Both the at-home and the out-of-home market are valued at retail selling prices including all sales and consumption taxes.

Modeling approach:

Market sizes are determined through a Top-Down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending (e.g. consumer spending on Non-Alcoholic Drinks, consumer spending at Hotels, Restaurants etc.), and price level index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Non-Alcoholic Drinks market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.