Impact of COVID-19 Outbreak on Low Alcohol Beverages Market - Drivers, Opportunities and Forecast Analysis to 2027
Market Forecast In 2020, the global low-alcohol RTD beverages Market was valued at USD 889.7 million and is expected to register a CAGR of 4.3% between 2021 and 2028. Low alcohol beverages include drinks that has an“alcoholic strength by volume” (ABV) of between 0.05% and 1.2%. Low alcohol beverages are going mainstream and is set to become serious contenders in the overall beverage industry in next couple of years. One of the key driving forces behind its growth is rising consumer awareness, especially among young millennials, about the health risks associated with excessive alcohol intake. Consumers are becoming increasingly conscious about their physical and mental health, leading to a decline in the consumption of high ABV beverages. The American population is increasingly giving up alcoholic beverages, prompting some of the top brewers and liquor companies to push beyond their traditional alcohols and look for energy drinks, non and low alcoholic beverages. This is evident f