South Korea Sugar-Free Beverages Market Growth and Share 2023, CAGR Status, Upcoming Trends, Business Challenges, Opportunities and Forecast 2033: SPER Market Research
Beverages that are sugar-free are drinks that do not include added sugar or artificial sweeteners that are usually present in juices and soft drinks. These types of drinks are created to be a healthier option than the regular sugary drinks, which could have negative health effects when consumed excessively. The natural sweeteners used in sugar-free drinks, such as stevia or erythritol, are low in calories and do not have the same impact on blood sugar levels as regular sugar.
According to SPER Market Research, ‘South Korea Sugar Free Beverages Market Size- By Type, By Distribution Channel – Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ state that the South Korea Sugar Free Beverages is predicted to reach USD 1.58 billion by 2033 with a CAGR of 18.78%.
The South Korean Sugar-Free Beverage Industry is quickly expanding as a result of various growth drivers, including increased Health Consciousness, among others. South Korean consumers are becoming more health-conscious and looking for better alternatives to sugary drinks. Sugar-free beverages are gaining appeal among health-conscious consumers as a better alternative. Obesity and diabetes are on the rise in South Korea, fuelling a surge in demand for sugar-free beverages as a low-calorie, sugar-free alternative to traditional sugary drinks. In addition, the South Korean government encourages the consumption of sugar-free and low-calorie beverages. Government actions, such as the imposition of sugar levies, are propelling the country’s sugar-free beverage industry forward.
The significant competition from traditional carbonated drinks and other non-alcoholic beverages is one of the primary issues that the South Korean Sugar Free Beverages Market faces. Many South Koreans still prefer traditional sugary carbonated drinks, and there is a lack of awareness and education about the benefits of sugar-free beverages. Another difficulty is the high cost of sugar alternatives, which may raise the price of sugar-free beverages and make them less affordable for some consumers. Also, the lack of availability and diversity of sugar-free beverages in certain parts of the country may hinder their acceptance. Furthermore, the legislation and policies governing the use of artificial sweeteners in food and beverages may present difficulties. Because artificial sweeteners are prohibited in South Korea, some customers may be hesitant to consume sugar-free beverages containing these substances.
Impact of COVID-19 on South Korea Sugar Free Beverages Market
The COVID-19 pandemic has had a mixed influence on the South Korean Sugar Free Beverage Market. On the one hand, there has been a shift toward better lives, with many customers becoming more health-conscious and searching out sugar-free beverages as a method to limit sugar intake and maintain a balanced diet. This has increased demand for sugar-free beverages in South Korea. On the other hand, the pandemic has resulted in a decline in overall beverage consumption, as many customers have stayed at home and reduced their intake of on-the-go beverages. This has impacted the sales of many types of beverages, including sugar-free beverages.
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Currently, no single region dominates the South Korean Sugar Free Beverage Market. Due to their high population densities and urbanization, major cities such as Seoul, Busan, and Incheon have some of the largest markets for sugar-free beverages in South Korea. In addition, some of the market key players are Hitejinro Co., Ltd., Lotte Chilsung Beverage Co., Ltd., PepsiCo, Inc., Red Bull GmbH, The Coca-Cola Company, The Kraft Heinz Company, Others.
South Korea Sugar Free Beverages Market Key Segments Covered
The SPER Market Research report seeks to give market dynamics, demand, and supply forecasts for the years up to 2033. This report contains statistics on product type segment growth estimates and forecasts.
By Type: Based on the Type, South Korea Sugar Free Beverages Market is segmented as; Alcoholic Beverages, Carbonated Soft Drinks, Energy Drinks, Fruit and Vegetable Juices, Ready-to-Go Drinks, and Others.
By Distribution Channel: Based on the Distribution Channel, South Korea Sugar Free Beverages Market is segmented as; Convenience Stores, Online Sales, Supermarkets/Hypermarkets, Other Distribution Channels.
By Region: This report also provides the data for key regional segments of Busan, Chungcheong Region, Daegu, Daejeon, Gangwon Region, Gwangju, Gyeongsang Region, Incheon, Jeju Island, Jeolla Region, Seoul.
For More Information, refer to below link:-
South Korea Sugar Free Beverages Market Trends
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