Sugar-Free Beverage Market share is expected to grow at a higher CAGR of 6.4% Forecast to 2023. A good and healthy substitute for sugar-based beverages is called sugar-free beverages. These beverages also contain sugar content, but the sweeteners added in these beverages are generally artificial sweeteners like sucralose, neotame, saccharin, aspartame, and stevia. Those who are more inclined towards weight reduction prefer Sugar-Free Beverage Market as these are healthier substitutes and helps in reducing the overall sugar intake of an individual. The demand for these beverages is increasing as most consumers are shifting towards healthy attributes. This drink helps in reducing cravings while maintaining a healthy diet.
The most prominent major key players in the sugar-free beverages market share all across the globe are mentioned below:
The Kraft Heinz Company (US)
The Coca-Cola Company (US)
Mars Inc. (US)
The Hershey Company (US)
These major key players use various strategies to sustain their market position in the sugar-free beverage market in the global market by going for mergers, and acquisitions, by collaborating, setting up a new joint venture, establishing a partnership, developing a new production process, developing a new product line, innovation in the existing product, and many others to expand their customer base in the untapped market of the sugar-free beverage all across the globe.
The sugar-free beverage market share has been divided all across the globe based on the product type, claims, and distribution channel.
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The sugar-free beverage market share has been divided all across the globe based on the region into the North American region, Asia-Pacific region, European region, and the Middle East and African region. The largest market share in the global market is held by the North American region and hence it dominates in the global market owing to the presence of countries like the US, Canada, and Mexico. People of this region are more health-conscious and hence drives the market demand.
Being the fastest-growing region in the global market, the Asia-Pacific region holds the second-largest market share in the global market. The presence of countries like Japan, Australia, India, and China covers the major proportion of population all across the globe and hence it creates more market demand for sugar-free beverages. Additionally, a rise in disposable income in this region also creates market demand.
The third-largest market share in the global market is held by the European region owing to the presence of various countries like the UK, Spain, Italy, France, Germany, and many others. The improvement in the health infrastructure provides various growth opportunities in this region. Also, people of this region spend more money on their well-being and hence creates more demand.
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