非酒精饮料市场－全球产业规模、份额、趋势、机会及预测（依产品类型、通路、地区及竞争格局划分，2021-2031年）

全球非酒精饮料市场预计将从 2025 年的 12,752.8 亿美元大幅成长至 2031 年的 19,891.1 亿美元，复合年增长率为 7.69%。

这一类别指的是酒精含量极低或不含酒精的饮料，包括软性饮料、瓶装水、功能性果汁，以及啤酒、葡萄酒和烈酒的脱醇版本。推动这一市场扩张的关键因素是消费者对长期健康和福祉的关注度发生了根本性转变，从而催生了对既能补充水分又能提供功能性益处，且无酒精副作用的产品的需求。此外，适度饮酒逐渐被确立为一种长期的生活方式选择，而非昙花一现的饮食风尚，也促进了这一趋势的发展。根据美国酿酒商协会预测，到2024年，无醇啤酒的销售量预计将年增超过30%，凸显了该品类庞大的市场需求。

然而，阻碍市场扩张的一大挑战是国际上缺乏统一的监管标准。对于产品标註为「无酒精」或「不含酒精」所需的酒精浓度（ABV）缺乏统一定义，给试图出口产品的製造商带来了巨大的合规挑战。这些监管上的不一致之处使全球供应链复杂化，增加了营运成本，并有可能阻碍产品在新兴市场的流通速度。

市场驱动因素

千禧世代和Z世代消费习惯的改变正在从根本上重塑市场格局。这些世代越来越倾向于适度饮酒和「无酒精」生活方式，而非传统的酒精消费。出于自律、保持头脑清醒以及避免有害身体影响的考虑，这些年轻消费者正在推动无酒精饮料在社交场合的普及。这种世代转变代表着一种持久的生活方式改变，而非暂时的停滞，它促使产品创新朝着高端、复杂的口味方向发展，这些口味既能提供成人饮品的精緻体验，又不会让人产生醉酒感。根据成人无酒精饮料协会（ANBA）于2025年2月发布的《ANBA行业统计》报告，30%的Z世代消费者表示他们的饮酒量比前一年有所减少，这证实了这种行为转变的持久性。

同时，消费者日益增强的健康意识和养生趋势正将该品类的目标受众从年轻消费者扩展到更广泛的群体，他们追求功能性益处和更低的卡路里摄取。越来越多的消费者交替饮用含酒精和不含酒精的饮料，以在不影响社交体验的前提下保持适度饮酒，这一趋势便体现得淋漓尽致。零售商正大幅增加功能性葡萄酒和无酒精啤酒的货架空间，以迎合这一健康趋势。根据Ocado Retail 2025年1月发布的报导《超级市场数据显示无酒精和低酒精饮料全年销量》，1月无酒精和低酒精啤酒的销量同比增长了46%。帝亚吉欧也反映了这一强劲的成长势头，报告称其无酒精产品系列在2025年将增长约56%，凸显了健康产品线的商业性可行性。

市场挑战

国际上缺乏统一的监管标准，对全球非酒精饮料市场构成重大障碍。各国对可接受的酒精浓度（ABV）阈值定义不一，往往导致同一产品因出口市场不同而需要贴上不同的标籤，例如「无酒精」或「低酒精」。这种碎片化迫使製造商应对复杂的合规要求，需要针对不同地区采用不同的配方和包装。这些监管上的不一致导致全球供应链碎片化，推高生产成本，并有效阻碍品牌扩大营运规模和拓展新兴市场的速度。

这些行政障碍直接导致贸易流动性降低和市场规模缩小，因为跨境监管的不一致阻碍了出口商拓展业务的能力。近期贸易数据显示，这些壁垒造成的摩擦显而易见。根据英国食品饮料联合会（FDF）统计，2024年前三个季度，英国食品和非酒精饮料产业的出口量下降了16.3%，部分原因在于持续存在的贸易障碍和行政摩擦。这一萎缩凸显了监管不一致并非仅是细微的操作差异，而是对市场经济表现构成实际制约。

市场趋势

富含情绪调节适应原和益智成分的饮品正在打造一个独特的、高成长的子部门，其功能超越了简单的补水，能够切实改善心理状态，例如放鬆身心、提升专注力。这一趋势代表着利用镁、CBD和功能性蘑菇等生物活性成分来积极管理压力和认知功能的成熟发展，有效地创造了一个新的「功能性饮料」类别。各大品牌正透过将这些产品定位为高效的生活方式工具而非仅仅是美味的替代品来抓住市场需求，这展现了以情绪为导向的配方在商业性的扩充性。根据《The Grocer》杂誌2025年11月发表的一篇报导报道，功能性饮品品牌Trip预计本财年销售额将超过1亿美元，凸显了这些机能饮料压力饮品的迅速普及。

同时，能够完美復刻龙舌兰酒、威士忌和兰姆酒复杂感官特性的正宗无酒精龙舌兰酒和深色烈酒替代品正在迅速涌现。製造商正运用先进的萃取技术，力求重现传统烈酒的醇厚口感、入口感受和植物来源风味，使其不再局限于水果基无无酒精调饮鸡尾酒，而是成为高端调酒术的直接替代品。这项创新将无酒精饮品的消费拓展到了深夜社交场合和高檔餐饮场所，在这些地方，人们更注重精緻的口感。根据《烈酒商业》（The Spirits Business）2025年8月发表的一篇报导《维特罗斯低醇和无醇烈酒销量增长85%》报道，维特罗斯零售商的无醇烈酒销量同比增长85%，显着超过了其他低醇酒类。

目录

第一章概述

第二章调查方法

第三章执行摘要

第四章：客户评价

第五章 全球非酒精饮料市场展望

• 市场规模及预测
  • 按金额
• 市占率及预测
  • 依产品类型（碳酸饮料、机能饮料/能量饮料和运动饮料、果汁和调味饮料、瓶装水、其他（乳类饮料、茶/咖啡、苏打水等））
  • 按分销管道（超级市场/大卖场、便利商店、百货公司、线上、其他（杂货店、独立商店等））
  • 按地区
  • 按公司（2025 年）
• 市场地图

第六章：北美非酒精饮料市场展望

• 市场规模及预测
• 市占率及预测
• 北美洲：国家分析
  • 我们
  • 加拿大
  • 墨西哥

第七章：欧洲非酒精饮料市场展望

• 市场规模及预测
• 市占率及预测
• 欧洲：国家分析
  • 德国
  • 法国
  • 英国
  • 义大利
  • 西班牙

8. 亚太地区非酒精饮料市场展望

• 市场规模及预测
• 市占率及预测
• 亚太地区：国家分析
  • 中国
  • 印度
  • 日本
  • 韩国
  • 澳洲

第九章：中东和非洲非酒精饮料市场展望

• 市场规模及预测
• 市占率及预测
• 中东和非洲：国家分析
  • 沙乌地阿拉伯
  • 阿拉伯聯合大公国
  • 南非

第十章：南美洲非酒精饮料市场展望

• 市场规模及预测
• 市占率及预测
• 南美洲：国家分析
  • 巴西
  • 哥伦比亚
  • 阿根廷

第十一章 市场动态

• 司机
• 任务

第十二章 市场趋势与发展

• 併购
• 产品发布
• 最新进展

第十三章 全球非酒精饮料市场：SWOT分析

第十四章：波特五力分析

• 产业竞争
• 新进入者的可能性
• 供应商电力
• 顾客权力
• 替代品的威胁

第十五章 竞争格局

• The Coca-Cola Company
• PepsiCo, Inc.
• Suntory Beverage & Food Ltd
• Keurig Dr Pepper Inc.
• Nestle SA
• Danone SA
• Red Bull
• Monster Energy
• Refresco Group
• Asahi Group Holdings, Ltd

第十六章 策略建议

第十七章：关于研究公司及免责声明

The Global Non-Alcoholic Drinks Market is projected to experience significant growth, rising from USD 1275.28 Billion in 2025 to USD 1989.11 Billion by 2031, representing a Compound Annual Growth Rate (CAGR) of 7.69%. This sector is defined by beverages containing zero or negligible alcohol, encompassing soft drinks, bottled water, functional juices, and dealcoholized versions of beer, wine, and spirits. The primary force driving this expansion is a fundamental shift in consumer priorities toward long-term health and wellness, creating a demand for products that deliver hydration and functional benefits without the negative effects of alcohol. This trend is further supported by the increasing adoption of moderation as a permanent lifestyle choice rather than a fleeting dietary fad. According to the Brewers Association, sales of non-alcoholic beer grew by over 30 percent year-over-year in 2024, highlighting the substantial scale of demand within this category.

However, a major challenge potentially hindering market expansion is the absence of harmonized regulatory standards across international jurisdictions. Inconsistent definitions regarding the permissible alcohol by volume (ABV) limits for labeling products as "non-alcoholic" or "alcohol-free" create significant compliance difficulties for manufacturers attempting to export their goods. These regulatory discrepancies complicate global supply chains and increase operational costs, which risks stifling the speed of product distribution in emerging markets.

Market Driver

The market is being fundamentally reshaped by the evolving consumption habits of Millennial and Gen Z demographics, who are increasingly prioritizing moderation and "sober-curious" lifestyles over traditional alcohol consumption. These younger consumers are driving the normalization of non-alcoholic beverages in social settings, motivated by a desire for control, mental clarity, and the avoidance of adverse physical effects. This generational shift represents a sustained lifestyle change rather than a temporary pause, influencing product innovation toward premium, complex flavors that offer the sophistication of adult drinks without intoxication. According to the 'ANBA Industry Statistics' report published by the Adult Non-Alcoholic Beverage Association in February 2025, 30% of Gen Z consumers reported drinking less alcohol compared to the previous year, underscoring the permanence of this behavioral transition.

Concurrently, rising consumer health consciousness and wellness trends are extending the category's reach beyond younger demographics to a broader audience seeking functional benefits and reduced calorie intake. This driver is demonstrated by the growing phenomenon of consumers alternating between alcoholic and non-alcoholic drinks to maintain moderation without sacrificing the social experience. Retailers have responded by significantly expanding shelf space for functional wines and dealcoholized beers that align with these wellness goals. According to an article by Ocado Retail in January 2025 titled 'Supermarket data shows strong year-round sales for no and low alcohol beverages,' sales of no and low alcohol beer increased by 46% in January compared to the same period the prior year. Reflecting this robust momentum, Diageo reported in 2025 that its non-alcoholic portfolio grew by approximately 56%, highlighting the commercial viability of health-oriented product lines.

Market Challenge

The absence of harmonized regulatory standards across international jurisdictions constitutes a critical impediment to the Global Non-Alcoholic Drinks Market. Countries enforce divergent definitions regarding permissible alcohol by volume (ABV) thresholds, often requiring a single product to carry different classifications, such as "alcohol-free" or "low-alcohol," depending on the destination market. This fragmentation forces manufacturers to navigate complex compliance requirements, necessitating region-specific formulations and packaging. Such regulatory disparity fractures global supply chains and escalates production costs, effectively stalling the speed at which brands can scale operations or enter emerging territories.

These administrative hurdles translate directly into reduced trade fluidity and contracted market volumes, as inconsistent cross-border protocols deter exporters from expanding their reach. The friction caused by these barriers is evident in recent trade data; according to the Food and Drink Federation, export volumes for the food and non-alcoholic drinks sector declined by 16.3 percent during the first three quarters of 2024, a downturn attributed in part to persistent trade barriers and administrative friction. This contraction highlights how regulatory inconsistency functions not merely as an operational nuance but as a tangible constraint on the market's economic performance.

Market Trends

The infusion of mood-enhancing adaptogens and nootropics is creating a distinct high-growth sub-sector that moves beyond simple hydration to offer tangible mental state alterations such as relaxation or focus. This trend represents a sophisticated evolution where consumers utilize bio-active ingredients like magnesium, CBD, and functional mushrooms to actively manage stress and cognitive performance, effectively creating a new "functional buzz" category. Brands are capitalizing on this demand by positioning these products as high-efficacy lifestyle tools rather than mere flavor alternatives, validating the commercial scalability of mood-centric formulations. According to an article in The Grocer from November 2025 titled 'Trip valued at $300m as it secures $40m for US push,' the functional drinks brand Trip expected revenues to exceed $100 million in the current financial year, highlighting the massive adoption of these stress-relief beverages.

Simultaneously, the sector is experiencing the rapid emergence of authentic zero-proof agave and dark spirit alternatives designed to replicate the complex organoleptic profiles of tequila, whiskey, and rum. Manufacturers are employing advanced extraction techniques to capture the heat, mouthfeel, and botanical depth of traditional spirits, allowing these products to serve as direct replacements in premium mixology rather than just fruit-based mocktails. This innovation expands consumption occasions for non-alcoholic options into late-night social settings and upscale dining environments where adult flavor complexity is paramount. According to The Spirits Business in August 2025, in the article 'Waitrose low-and-no spirits sales up 85%,' sales of non-alcoholic spirits at the retailer rose by 85% year-on-year, significantly outpacing growth in other low-alcohol categories.

Key Market Players

• The Coca-Cola Company
• PepsiCo, Inc.
• Suntory Beverage & Food Ltd
• Keurig Dr Pepper Inc.
• Nestle S.A
• Danone S.A
• Red Bull
• Monster Energy
• Refresco Group
• Asahi Group Holdings, Ltd

Report Scope

In this report, the Global Non-Alcoholic Drinks Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

Non-Alcoholic Drinks Market, By Product Type

• Carbonated Soft drinks
• Functional/Energy & Sports Drinks
• Fruit Juices & Flavored Drinks
• Bottled Water
• Others (Dairy-based Drinks, Tea & Coffee, Sodas, etc.)

Non-Alcoholic Drinks Market, By Distribution Channel

• Supermarkets/Hypermarkets
• Convenience Stores
• Departmental Store
• online
• Others (Grocery Stores, Independence store, etc.)

Non-Alcoholic Drinks Market, By Region

• North America
  • United States
  • Canada
  • Mexico
• Europe
  • France
  • United Kingdom
  • Italy
  • Germany
  • Spain
• Asia Pacific
  • China
  • India
  • Japan
  • Australia
  • South Korea
• South America
  • Brazil
  • Argentina
  • Colombia
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Non-Alcoholic Drinks Market.

Available Customizations:

Global Non-Alcoholic Drinks Market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

• Detailed analysis and profiling of additional market players (up to five).

Table of Contents

1. Product Overview

• 1.1. Market Definition
• 1.2. Scope of the Market
  • 1.2.1. Markets Covered
  • 1.2.2. Years Considered for Study
  • 1.2.3. Key Market Segmentations

2. Research Methodology

• 2.1. Objective of the Study
• 2.2. Baseline Methodology
• 2.3. Key Industry Partners
• 2.4. Major Association and Secondary Sources
• 2.5. Forecasting Methodology
• 2.6. Data Triangulation & Validation
• 2.7. Assumptions and Limitations

3. Executive Summary

• 3.1. Overview of the Market
• 3.2. Overview of Key Market Segmentations
• 3.3. Overview of Key Market Players
• 3.4. Overview of Key Regions/Countries
• 3.5. Overview of Market Drivers, Challenges, Trends

4. Voice of Customer

5. Global Non-Alcoholic Drinks Market Outlook

• 5.1. Market Size & Forecast
  • 5.1.1. By Value
• 5.2. Market Share & Forecast
  • 5.2.1. By Product Type (Carbonated Soft drinks, Functional/Energy & Sports Drinks, Fruit Juices & Flavored Drinks, Bottled Water, Others (Dairy-based Drinks, Tea & Coffee, Sodas, etc.))
  • 5.2.2. By Distribution Channel (Supermarkets/Hypermarkets, Convenience Stores, Departmental Store, online, Others (Grocery Stores, Independence store, etc.))
  • 5.2.3. By Region
  • 5.2.4. By Company (2025)
• 5.3. Market Map

6. North America Non-Alcoholic Drinks Market Outlook

• 6.1. Market Size & Forecast
  • 6.1.1. By Value
• 6.2. Market Share & Forecast
  • 6.2.1. By Product Type
  • 6.2.2. By Distribution Channel
  • 6.2.3. By Country
• 6.3. North America: Country Analysis
  • 6.3.1. United States Non-Alcoholic Drinks Market Outlook
    • 6.3.1.1. Market Size & Forecast
      • 6.3.1.1.1. By Value
    • 6.3.1.2. Market Share & Forecast
      • 6.3.1.2.1. By Product Type
      • 6.3.1.2.2. By Distribution Channel
  • 6.3.2. Canada Non-Alcoholic Drinks Market Outlook
    • 6.3.2.1. Market Size & Forecast
      • 6.3.2.1.1. By Value
    • 6.3.2.2. Market Share & Forecast
      • 6.3.2.2.1. By Product Type
      • 6.3.2.2.2. By Distribution Channel
  • 6.3.3. Mexico Non-Alcoholic Drinks Market Outlook
    • 6.3.3.1. Market Size & Forecast
      • 6.3.3.1.1. By Value
    • 6.3.3.2. Market Share & Forecast
      • 6.3.3.2.1. By Product Type
      • 6.3.3.2.2. By Distribution Channel

7. Europe Non-Alcoholic Drinks Market Outlook

• 7.1. Market Size & Forecast
  • 7.1.1. By Value
• 7.2. Market Share & Forecast
  • 7.2.1. By Product Type
  • 7.2.2. By Distribution Channel
  • 7.2.3. By Country
• 7.3. Europe: Country Analysis
  • 7.3.1. Germany Non-Alcoholic Drinks Market Outlook
    • 7.3.1.1. Market Size & Forecast
      • 7.3.1.1.1. By Value
    • 7.3.1.2. Market Share & Forecast
      • 7.3.1.2.1. By Product Type
      • 7.3.1.2.2. By Distribution Channel
  • 7.3.2. France Non-Alcoholic Drinks Market Outlook
    • 7.3.2.1. Market Size & Forecast
      • 7.3.2.1.1. By Value
    • 7.3.2.2. Market Share & Forecast
      • 7.3.2.2.1. By Product Type
      • 7.3.2.2.2. By Distribution Channel
  • 7.3.3. United Kingdom Non-Alcoholic Drinks Market Outlook
    • 7.3.3.1. Market Size & Forecast
      • 7.3.3.1.1. By Value
    • 7.3.3.2. Market Share & Forecast
      • 7.3.3.2.1. By Product Type
      • 7.3.3.2.2. By Distribution Channel
  • 7.3.4. Italy Non-Alcoholic Drinks Market Outlook
    • 7.3.4.1. Market Size & Forecast
      • 7.3.4.1.1. By Value
    • 7.3.4.2. Market Share & Forecast
      • 7.3.4.2.1. By Product Type
      • 7.3.4.2.2. By Distribution Channel
  • 7.3.5. Spain Non-Alcoholic Drinks Market Outlook
    • 7.3.5.1. Market Size & Forecast
      • 7.3.5.1.1. By Value
    • 7.3.5.2. Market Share & Forecast
      • 7.3.5.2.1. By Product Type
      • 7.3.5.2.2. By Distribution Channel

8. Asia Pacific Non-Alcoholic Drinks Market Outlook

• 8.1. Market Size & Forecast
  • 8.1.1. By Value
• 8.2. Market Share & Forecast
  • 8.2.1. By Product Type
  • 8.2.2. By Distribution Channel
  • 8.2.3. By Country
• 8.3. Asia Pacific: Country Analysis
  • 8.3.1. China Non-Alcoholic Drinks Market Outlook
    • 8.3.1.1. Market Size & Forecast
      • 8.3.1.1.1. By Value
    • 8.3.1.2. Market Share & Forecast
      • 8.3.1.2.1. By Product Type
      • 8.3.1.2.2. By Distribution Channel
  • 8.3.2. India Non-Alcoholic Drinks Market Outlook
    • 8.3.2.1. Market Size & Forecast
      • 8.3.2.1.1. By Value
    • 8.3.2.2. Market Share & Forecast
      • 8.3.2.2.1. By Product Type
      • 8.3.2.2.2. By Distribution Channel
  • 8.3.3. Japan Non-Alcoholic Drinks Market Outlook
    • 8.3.3.1. Market Size & Forecast
      • 8.3.3.1.1. By Value
    • 8.3.3.2. Market Share & Forecast
      • 8.3.3.2.1. By Product Type
      • 8.3.3.2.2. By Distribution Channel
  • 8.3.4. South Korea Non-Alcoholic Drinks Market Outlook
    • 8.3.4.1. Market Size & Forecast
      • 8.3.4.1.1. By Value
    • 8.3.4.2. Market Share & Forecast
      • 8.3.4.2.1. By Product Type
      • 8.3.4.2.2. By Distribution Channel
  • 8.3.5. Australia Non-Alcoholic Drinks Market Outlook
    • 8.3.5.1. Market Size & Forecast
      • 8.3.5.1.1. By Value
    • 8.3.5.2. Market Share & Forecast
      • 8.3.5.2.1. By Product Type
      • 8.3.5.2.2. By Distribution Channel

9. Middle East & Africa Non-Alcoholic Drinks Market Outlook

• 9.1. Market Size & Forecast
  • 9.1.1. By Value
• 9.2. Market Share & Forecast
  • 9.2.1. By Product Type
  • 9.2.2. By Distribution Channel
  • 9.2.3. By Country
• 9.3. Middle East & Africa: Country Analysis
  • 9.3.1. Saudi Arabia Non-Alcoholic Drinks Market Outlook
    • 9.3.1.1. Market Size & Forecast
      • 9.3.1.1.1. By Value
    • 9.3.1.2. Market Share & Forecast
      • 9.3.1.2.1. By Product Type
      • 9.3.1.2.2. By Distribution Channel
  • 9.3.2. UAE Non-Alcoholic Drinks Market Outlook
    • 9.3.2.1. Market Size & Forecast
      • 9.3.2.1.1. By Value
    • 9.3.2.2. Market Share & Forecast
      • 9.3.2.2.1. By Product Type
      • 9.3.2.2.2. By Distribution Channel
  • 9.3.3. South Africa Non-Alcoholic Drinks Market Outlook
    • 9.3.3.1. Market Size & Forecast
      • 9.3.3.1.1. By Value
    • 9.3.3.2. Market Share & Forecast
      • 9.3.3.2.1. By Product Type
      • 9.3.3.2.2. By Distribution Channel

10. South America Non-Alcoholic Drinks Market Outlook

• 10.1. Market Size & Forecast
  • 10.1.1. By Value
• 10.2. Market Share & Forecast
  • 10.2.1. By Product Type
  • 10.2.2. By Distribution Channel
  • 10.2.3. By Country
• 10.3. South America: Country Analysis
  • 10.3.1. Brazil Non-Alcoholic Drinks Market Outlook
    • 10.3.1.1. Market Size & Forecast
      • 10.3.1.1.1. By Value
    • 10.3.1.2. Market Share & Forecast
      • 10.3.1.2.1. By Product Type
      • 10.3.1.2.2. By Distribution Channel
  • 10.3.2. Colombia Non-Alcoholic Drinks Market Outlook
    • 10.3.2.1. Market Size & Forecast
      • 10.3.2.1.1. By Value
    • 10.3.2.2. Market Share & Forecast
      • 10.3.2.2.1. By Product Type
      • 10.3.2.2.2. By Distribution Channel
  • 10.3.3. Argentina Non-Alcoholic Drinks Market Outlook
    • 10.3.3.1. Market Size & Forecast
      • 10.3.3.1.1. By Value
    • 10.3.3.2. Market Share & Forecast
      • 10.3.3.2.1. By Product Type
      • 10.3.3.2.2. By Distribution Channel

11. Market Dynamics

• 11.1. Drivers
• 11.2. Challenges

12. Market Trends & Developments

• 12.1. Merger & Acquisition (If Any)
• 12.2. Product Launches (If Any)
• 12.3. Recent Developments

13. Global Non-Alcoholic Drinks Market: SWOT Analysis

14. Porter's Five Forces Analysis

• 14.1. Competition in the Industry
• 14.2. Potential of New Entrants
• 14.3. Power of Suppliers
• 14.4. Power of Customers
• 14.5. Threat of Substitute Products

15. Competitive Landscape

• 15.1. The Coca-Cola Company
  • 15.1.1. Business Overview
  • 15.1.2. Products & Services
  • 15.1.3. Recent Developments
  • 15.1.4. Key Personnel
  • 15.1.5. SWOT Analysis
• 15.2. PepsiCo, Inc.
• 15.3. Suntory Beverage & Food Ltd
• 15.4. Keurig Dr Pepper Inc.
• 15.5. Nestle S.A
• 15.6. Danone S.A
• 15.7. Red Bull
• 15.8. Monster Energy
• 15.9. Refresco Group
• 15.10. Asahi Group Holdings, Ltd

16. Strategic Recommendations

17. About Us & Disclaimer