Non-Alcoholic Beverage Market Soars as Consumers Prioritize Health and Wellness

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Millennials are leading the non-alcoholic revolution.

What’s happening

Consumers are becoming more health-conscious, causing a non-alcoholic drink boom. In 2022 the global non-alcoholic drinks market surpassed $11B, according to the IWSR.

• Sales of no and low-alcohol drinks grew 7% in 2022, compared to 5% from 2018 to 2021.

• According to the ISWR, the annual growth rate is expected to rise as more consumers join the non-alcoholic wave.

Why it matters: The COVID-19 pandemic illustrated the importance of being in good health, which prompted consumers to spend more on health and wellness, seek credible health information, and opt for healthier options at the grocery store.

• The global wellness market is expected to reach $7B by 2025.

• Dr. Andrew Huberman’s podcast, The Huberman Lab, has added 1.3M subscribers in 2022, highlighting a macro-level trend amongst health and wellness podcasts.

• In 2021, Coca-Cola reported sales were down 28%, equivalent to a $2B loss in revenue. Despite a decline in total sales, diet drinks are on the upswing.

Punchline: Whether health and wellness brands improve population-level health outcomes has yet to be determined. But with 128M+ Americans classified as overweight or obese, efforts to reverse course are noteworthy and likely to be profitable for years to come.