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Food and Beverages | Wednesday, November 27, 2019
The beverage industry is undergoing a rapid change and rising in popularity in the past few years. This surge in popularity is due to changing consumer consumption habits and a shift away from traditional beverages such as soft drinks and beer.
FREMONT, CA: The changing beverage consumption habits of consumers around the globe are causing many beverage producers, retailers, and suppliers to wonder, "what is coming next?", as they notice, the new beverages skyrocket, and on the other hand, traditional beverage products decline. Healthier and higher quality products are gaining popularity, other than that consumers are looking for brands that offer sustainable sourcing, social responsibility, and organic certification. Various new entrants in the market are disrupting the traditional brands as they create drinks that align with these consumer preferences.
High Focus on Health and Wellness
Consumers, especially the new generation consumers are more health-conscious, they are always up for trying new and healthier alternatives to traditional soft drinks. With a decline in the consumption of soda, numerous brands have started to launch sparkling water products. Healthier drinks like plant-based waters, kombucha, and functional beverages are becoming popular.
Beverages with low calorie, alcohol, and sugar content of hard seltzer have also been popular among the consumers. Brands ranging from bottled water to beer are offering new hard seltzer products, and also acquiring hard seltzer companies. There is a noticeable change seen in the crease of non-alcoholic, or low-alcoholic versions of spirits, wine and beer, and many more.
With the economy being active across the globe, the interest for consumers to buy more expensive drinks remains high. The availability of various rosters around the world has to lead to the consumers being coffee connoisseurs. These consumers regularly visit the local coffee shop for a cup of pour-over coffee, even if the cost might be double a regular drip coffee.
The consumers' decision making is being influenced by the environmental concerns around excess packaging and single-use plastic. In response to these concerns, beverage companies are becoming more eco-friendly and choosing options like aluminum cans and paper boxes, rather than plastic bottles.
Adhering to these changes, the rapid adoption of new twists on traditional drinks, as well as the high popularity of new concepts, is seen in the beverage industry.