Currently, India’s ready-to-drink juice, mocktail and non-alcoholic beverage market comprises over 200 players.Makers are raking in the most from millennials as well as health-conscious Gen Zs, that lap up everything that is natural and organic. “The post-Covid era has ignited a profound shift towards healthier living, and that has stimulated a demand for non-alcoholic alternatives. Lifestyle changes have increased consumer awareness of alcohol’s harmful effects, but they still desire some non-alcoholic drink options that taste similar. There is high interest in the market — startups are getting fresh funding from angel investors, while FMCG majors are looking to buy stakes in the companies. Bengaluru-based Swizzle received a seed funding of nearly $67,000 from angel investors Akshay Singhal and Monika Rao this Feb.Coolberg got $1.1 million in its latest round from institutional and angel investors including Ashok Kumar Damani.

Source: Punch May 03, 2024 22:15 UTC