In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
Non-alcoholic squash is concentrated syrup that is made up of fruit ingredients. They are generally non-alcoholic in nature and not fermented. Presently, various companies’ offers sugar free squash. Ginger extract and herbal extract are also added to enhance the quality of squash. Cocktails are generally made by mixing squash with alcoholic drinks. Non-alcoholic squash has good shelf life with added preservatives. Squash contains natural ingredients that are rich in vitamins and are considered healthy in comparison to aerated drinks which directly boost the non-alcoholic squash market.
The CAGR of Non-Alcoholic squash market expected to be around 6.7% during 2018-2027.It is expected to reach USD 29.5 Billion by the year 2027.Global non-alcoholic squash market was valued at USD 19.1 Billion by the year 2019.The demand for non-alcoholic squash is expected to show robust growth during the forecast period owing to the increasing consumer preference for the healthy drinks in comparison to carbonated drinks.
The global nonalcoholic squash market is segmented on the basis of nature, fruit type, end-use, packaging and distribution. In fruit type segment citrus fruits segment is anticipated to grow at faster rate owing to the high availability of fruit in different regions.
By region, the global non-alcoholic squash market is segmented into North America, Latin America, Europe, Asia-Pacific, Middle East and Africa. Asia pacific region is anticipated witness the highest growth in global non-alcoholic squash market. In Asia Pacific region, China and India are the major countries that contribute maximum market share owing to burgeoning population and large numbers of players operating in the non-alcoholic squash market.
Europe is the second largest region in the non-alcoholic squash market with significant consumption rate. Countries such as Spain, Italy, U.K. and Germany constitutes significant market share in the region owing to the growing popularity of non-carbonated in the region.
Our in-depth analysis segmented the Global non-alcoholic squash market in the following segments:
By Fruit Type
Global non-alcoholic squash market is further classified on the basis of region as follows:
The increasing health consciousness among the consumers coupled with increasing preference among consumers for beverages that have higher nutritional content such as vitamins and minerals is driving the market growth over the forecast period. Additionally, increasing demand of organic non-alcoholic squash due to various health benefits is also expected to promote the market growth. Moreover, growing demand for sugar free drinks that doesn’t include artificial color is expected to drive the global non-alcoholic Squash market. The squash consists of functional ingredients such as vitamin which is another reason for the growth of squash market. The product launches, merger and acquisitions are some of the key business strategies which are adopted by players for the expansion of non-alcoholic squash market.
The major restraining factor is the presence of fructose in the non-alcoholic squash drinks which can cause health issues such as diabetes and obesity.