Athletic Brewing Companies is leading the non-alcoholic beverage market. The company just raised millions of dollars to expand their breweries and create a better customer experience. Consumers can expect to have more diverse non-alcoholic options in the future.
The Non-Alcoholic Drink Market
The non-alcoholic (NA) beverage market is growing rapidly as consumers seek healthier alternatives to traditional alcoholic drinks.
Health and Wellness Trends
Health and wellness have been trending as consumers become more mindful of their habits and choices. Many are looking to reduce their alcohol intake, but don’t want to sacrifice the social experience or taste of drinking beer.
Athletic Brewing Company
Athletic Brewing Company was founded in 2018 as a specialty company for high-quality, non-alcoholic beers. The company now leads the non-alcoholic craft beer market.
Athletic’s Funding Success
The company recently raised $50 million in a Series C funding round that was led by Alliance Consumer Growth and TRB Advisors. This new capital brings the company’s total funding to $70 million.
Increasing Value
After closing this recent financing round, the company is now valued at $800 million. This is a double increase in value from two years ago.
Purpose of the Funding
Athletic Brewing has been raising money in order to expand its production capabilities. The company is hoping to establish a new brewery on the East Coast.
Employment and Growth
In addition to a growing physical presence, Athletic Brewing also plans to hire additional staff to support growing operations. There has been more demand for non-alcoholic products, so the company wants to meet the new market head-on with better customer service.
Marketing and Partnerships
The company’s growth has been met with significant marketing partnerships. Deals with Ironman and Spartan Race have been on the table, giving the company the chance to reach further into the active lifestyle community.
Giving Back
Athletic Brewing has committed to giving back to local communities and the environment. For instance, the Two for the Trails Program has been a program of interest for the company, which gives a portion of sales to trail and park maintenance.
Product Lineup
The expanding non-alcoholic beverage market has opened the doors for a wider variety of drinks. The Upside Down Golden Ale and the Run Wild IPA are just two examples of drinks that cater to diverse consumer tastes.
Company’s Market Share
Out of the entire non-alcoholic beer market, Athletic Brewing has a nearly 19% share. In addition, the company has seen its sales grow almost 500% each year, further demonstrating how this company has capitalized on this growing market.
Consumer Demographics
Millennials and Gen Z are the primary generations leading the health and wellness revolutions. They are also the primary consumers of these kinds of drinks.
The Broader Market
There are other non-alcoholic beverages on the market than just beer. Spirits, mocktails, and ciders are also becoming more popular, giving consumers a wide range of products to choose from.
Non-Alcoholic Beer Competitors
Major beer companies like Heineken and Anheuser-Busch have also entered the non-alcoholic market. The growing demand has brought the Athletic Brewing company some real competition.
Other NA Spirits
Brands like Seedlip and Ritual Zero Proof offer alternatives with their non-alcoholic spirit options. This gives consumers more options when looking for drinks that meet their social and wellness expectations.
The Future of the Market
The non-alcoholic beverage market is expected to continue growing. Consumers are likely to expect even more diversity in their beverage options as more companies create non-alcoholic drinks and existing companies expand their available options.
Athletic Brewing’s Expansion
Athlete Brewing has plans to expand its product offerings and explore new markets, both domestically and internationally, to meet the growing demand.
Innovation in Beverages
Companies have to stay on top of the market in order to be competitive. They must be innovative, continually developing new flavors and types of drinks that stand out to consumers.
Future Changes
The non-alcoholic beverage market offers significant growth opportunities for companies who are up to the challenge. However, there may also be struggles as beverage companies try to ensure high product quality and meet strict regulations.
A Healthier Path Forward
The recent funding success of Athletic Brewing and their future expansion plans show the potential of the non-alcoholic beverage market. As consumers seek out healthier options, companies like Athletic Brewing are in a good position to lead the industry.
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The content of this article is for informational purposes only and does not constitute or replace professional financial advice.
