The non-alcoholic beverages industry is expected to witness steady growth in the coming years. Health and wellness have become an even bigger trend since the advent of the COVID-19 pandemic. With a large segment of consumers’ discretionary expenses being focused on healthier food and beverage alternatives, non-alcoholic beverages are in line to be the next big thing.
Non-alcoholic beverages are commonly misinterpreted as including solely non-alcoholic versions of various alcoholic drinks. However, in the United States, non-alcoholic beverages are defined as any beverage that contains less than 0.5% alcohol; this includes functional beverages, aerated beverages, energy drinks, and more.
As the non-alcoholic beverages market continues to grow it is influenced by various trends. More recently, environmentalism, sustainability, and changing spending behavior have been the most significant trends. These trends have substantially influenced customers, purchasing habits, and in turn, the market.
At this point, industry players need to shift their focus to forecasting, identifying, and understanding market trends. As these trends grow and fade, the market needs to adapt. Therefore, in this article, Infiniti’s industry experts discuss the most significant trends in the non-alcoholic beverages market currently. Additionally, they highlight the benefits of leveraging trends analysis solutions in this market.
The non-alcoholic beverages market is expected to grow steadily till the year 2026. To be strategically prepared, and enhance revenue in this growing market, request a free proposal.
Non-Alcoholic Beverages Market Trends
Infiniti’s trends analysis experts analyzed the market to identify, study, and help companies adapt. The experts identified the following five significant trends in the beverages market:
Health and Wellness
Increasing concern with regards to obesity, cancer, and other health problems has led to higher demand in the non-alcoholic beverages market. As consumers focus on functional beverages, such as ready-to-drink teas and coffees, or relaxation drinks, the beverages market grows. Ready-to-drink coffees are highly demanded by students and corporate professionals, due to their early mornings, and late deadlines. This is a growing market, as the education industry proliferates, and countries rapidly urbanize, and non-alcoholic beverages industry players must prepare for this change.
Sustainability
Rising awareness of carbon emissions, global warming, and other environmental issues, has led to an increased demand for sustainable and eco-friendly products and packaging. Products that are innovative and packaged with eco-friendly sources are in high demand. Additionally, the demand for eco-friendly and natural products has risen substantially due to the combined awareness of sustainability and health. Further, sustainable packaging is a widely adopted alternative to traditional packaging due to government policies, and environmental benefits, and higher consumer satisfaction.
Disposable Income
Growing economies and rising disposable incomes has led to an increased demand for convenient and premium products. With value-oriented and smart consumers, quality trumps quantity, just as benefits and value trump expense. Also, premium products available in convenient packaging allows consumers to consume premium products on-the-go. Additionally, the increase in takeaway orders, and home deliveries, has increased the demand for packaged and non-alcoholic beverages. With the COVID-19 pandemic, restaurants and other eateries have been closed for the purpose of social distancing. This, in turn, has led to an increase in the need for delivery services, and further the need for alcoholic beverages.
Urbanization
Rapid urbanization has led to hectic, fast-paced cities, and consumers that require convenience and energy. Rising demand for energy drinks, convenient packaging options, and various preferences is significantly influencing the market. Developing countries in the APAC region are currently witnessing a mass movement from rural to urban. This has directly impacted the non-alcoholic beverages market, with a sudden need for convenience, and most importantly, energy.
Dietary Restrictions
Rising awareness of the impact of various eating habits on health and the environment has led to an increase in niche market segments. Veganism, gluten allergies, and nut allergies, lactose intolerance is the most significant dietary restrictions affecting the entire food and beverage industry, including the non-alcoholic beverages industry. This has paved the path for a highly competitive market; therefore, being aware of market trends, and staying a step ahead of competitors is crucial.
Market trends influence the growth of the market and preparing for these trends propels the growth of companies. To understand the trends in the non-alcoholic beverages market,
Trends Analysis in the Non-Alcoholic Beverages Industry
Trends analysis solutions help non-alcoholic beverages companies identify, understand, and adapt to the market trends. It allows companies to compare their performance with the industry average, find the strengths and weaknesses of a firm, and implement necessary changes for any gaps found. It also helps non-alcoholic beverages industry players forecast upcoming trends and efficiently strategize to stay ahead of the market. Leveraging Infiniti’s trends analysis solutions can assist non-alcoholic beverages companies by identifying current and significant trends influencing the market. These solutions also help companies develop the ideal approach toward adapting to changing market trends.
As the world recovers from the COVID-19 crisis, the demand for health and wellness products, delivery services, and eco-friendly products in the non-alcoholic beverages market will increase. Leveraging Infiniti’s trends analysis solutions has enabled companies to stay ahead of the trends, and their competition, by forecasting these changing patterns and preparing accordingly.
To gain in-depth insights into how Infiniti’s trends analysis solutions help beverage industry players stay ahead of market trends, request more information.
