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The lemonade market size is estimated to grow by USD 4,992.95 million at a CAGR of 7.14% between 2022 and 2027. The growth of the market depends on several factors, including rising demand for ready-to-drinks (RTDs), new product innovations and launches, and packaging innovations.
The surging demand for Ready-to-Drink (RTD) beverages is a significant driver of market growth. In the US, RTD cocktails are among the fastest-growing alcoholic beverages. Additionally, major global companies offer a wide range of RTD canned lemonade juices and drinks, catering to busy lifestyles while maintaining premium quality and taste. Furthermore, some companies are expanding their presence in the RTD category. For example, in April 2021, Diageo acquired Loyal 9 Cocktails, a vodka-based RTD brand available in flavors like lemonade, mixed berry lemonade, and watermelon lemonade. This acquisition aligns with Diageo's environmental goals and landscape restoration efforts, contributing to the market's growth prospects during the forecast period.It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
The market is showing accelerated growth during the forecast period.
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The use of lemonade as a mixer for alcoholic beverages is an emerging trend in the market growth. The most popular lemonade flavors are carbonated drinks and sports and energy drinks as mixers for alcoholic beverages, is gaining popularity, especially among young adults. The gaining popularity of hard lemonade among consumers is growing significantly, which will also drive the demand for the global market. Hard lemonade has evolved from the sweet and syrupy concoctions of the past to become a refreshing beverage in its own right.
Modern hard lemonade adaptations are significantly lighter on the taste and waistline, with flavour and ingredient quality taking precedence over sweetness. Hard lemonade also minimizes the unpleasant odor and alters the taste of alcohol. Players are coming up with a new lineup of sodas that can be used as mixers. For instance, big brands such as Truly and Bud Light have released a range of hard lemonade. Thus, the use of lemonade as a mixer for alcoholic beverages is expected to fuel the growth of the market in focus during the forecast period.
The easy availability of counterfeit products is a major challenge impeding market growth. Counterfeit or fake products affect consumers' health and lead to huge monetary losses to major drink players. They also hamper the brand image of the original products, as counterfeit drinks are filled in the bottles of original drinks.The market for fake lemonade drinks is quite prominent in developing nations. Mainly expired and low-quality ingredients are used in the manufacturing of fake or counterfeit lemonade drinks. The sales of counterfeit products are still high, despite multiple raids by regulatory authorities. Hence, such factors are expected to hamper the growth of the global market during the forecast period.
The market share growth by the carbonated drinks segment will be significant during the forecast period. Carbonated lemonade is considered the major segment in the market, which includes brands such as 7Up, and Sprite. Major players are also coming up with low-calorie versions of beverages to target health-conscious consumers.
The carbonated drinks segment was valued at USD 4,400.82 million in 2017.
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Carbonated beverages like Sprite and 7Up are increasingly used as mixers by bartenders in various alcoholic drinks and cocktails. The demand for carbonated drinks is also accelerated due to busy lifestyles and the increasing adoption of ready-to-drink (RTD) beverages among consumers. Moreover, low/no-calorie drinks with 68.6% carbonates enhance the demand for carbonated drinks. However, the consumption of carbonated drinks is declining as it contains high sugar causing health risks such as obesity, type 2 diabetes, and weight gain, and has formed a negative image in the beverage market. Players have been working on mitigating the negative image of carbonated drinks by introducing products that do not have sugar and are low in calories, such as diet or low-calorie drinks. Hence, the carbonated drinks segment in the global market is expected to witness growth during the forecast period.
Supermarkets and hypermarkets are the favored and widely chosen distribution channels. They offer the convenience of finding a diverse range of products in one place. Attractive discounts and an improved shopping experience, facilitated by eye-catching shelf displays, further attract consumers to buy these beverages from these outlets.
North America is estimated to contribute 33% to the growth of the global market during the forecast period.
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Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The US was the largest market in 2022. The demand for carbonated drinks, juices, juice concentrates, and alcoholic beverages is increasing among consumers in the US. Moreover, new product launches and product innovations will also help in the growth of the market in North America. Furthermore, the demand for alcoholic beverages is increasing among consumers in the US. This too will have a positive impact on the regional market. This is because young adults in the region prefer mixing their alcohol with mixers to enhance their taste. Additionally, the demand is significantly rising owing to its health benefits, and due to the rising demand for hard seltzer across the country. Such factors are expected to help in the growth of the market in North America during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Harvest Hill Beverage Co. - The company focuses on manufacturing beverages under various brands such as Little Hug, Big Hug, Guzzler, SunnyD, and Dailys Cocktails. The key offerings of the company include lemonade products.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Market Customer Landscape
The market research report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the market growth and trends opportunities from 2017 to 2027.
The non-alcoholic beverage industry is experiencing a surge in demand driven by health-conscious consumption trends and the growing preference for organic and all-natural ingredients. Flavored waters, iced teas, and functional beverages are among the specialty beverages gaining popularity due to their health benefits and unique flavors. The markets are thriving, offering convenient options for on-the-go consumers seeking refreshing beverages.
Concentrate lemonades are also making waves, particularly in catering services and the food and beverage industry, where flavor experimentation is encouraged to meet diverse consumer preferences. With a focus on health and wellness, sweeteners used in these beverages are carefully selected to align with health-conscious consumption habits, reflecting the industry's commitment to providing quality and nutritious options to consumers.
Lemonade Market Scope |
|
Report Coverage |
Details |
Page number |
164 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 7.14% |
Market growth 2023-2027 |
USD 4,992.95 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
6.51 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 33% |
Key countries |
US, China, Japan, Germany, and UK |
Competitive landscape |
Leading companies, Market Positioning of companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Anheuser Busch Co. LLC, Bisleri International Pvt Ltd, Clover Farms Dairy, Harvest Hill Beverage Co., Hydro One Beverages, Keurig Dr Pepper Inc., King Juice Co. Inc., Loris Original Lemonade, Maribell, Me and the Bees Lemonade, MIKES HARD LEMONADE Co., Milos Tea Co. Inc., Nestle SA, Parle Agro Pvt Ltd., PepsiCo Inc., Perricone Farms, Prairie Farms Dairy Inc., Sun Orchard Inc., The Coca Cola Co., and Turkey Hill Dairy |
Market dynamics |
Parent market analysis, Market forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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