The rapidly changing consumption habits have kept the players in the beverages industry on their toes – the result is a lot of experimentation to produce a range of appealing non-alcoholic drinks, along with greater marketing efforts to charm the consumers. The pace at which the drinks and beverages industry is growing makes it rather difficult to pinpoint what exactly is trending in the industry, yet there are no arguments when noting that 2017 has perhaps been one of the best years for the global beverages market.
Why are people drinking what they are drinking?
Market experts at Technavio have identified three major factors which have contributed to the phenomenal growth and popularity of drinks and beverages. While it begins with how green packaging has played a major role in increasing the consumption of drinks, the value element of choosing fresh and healthy drinks is something that cannot be ignored. But most of all, it is the purchasing power of the millennial population which has driven the players in the beverages industry to push themselves and come up with something more interesting and effective.
Trends which have taken the beverages industry by storm
When one analyses the consumer scenario in the US, UK, and Spain – the three major markets in the global beverages industry – the major trends worth analyzing are:
1) Drinking water is the new ‘cool’
The importance of staying hydrated has never caught this much frenzy before. The year 2017 witnessed some of the most innovative ways in which bottled water has been improvised and innovated upon. Leading names in the non-alcoholic drinks industry have come up with fancy bottles to souped-up sparkling drinks and enhanced the water quality by adding alkalinity and carbonation. Sparkling water is quite in demand especially in the US and the UK.
2) Cold brewing is the hottest trend at present
Quite popular in the US and gaining traction in Mexico and Spain, is the cold brewing process. This procedure basically involves the use of cold water or room-temperature to brew beverages and make them less bitter and acidic. For instance, coffee made using the cold brewing method is more chocolatey and sweet when compared to the traditional brewing process. Also, the fact that consumers are constantly trying to master the art of cold brewing by resorting to YouTube tutorials explains the popularity of this brewing procedure.
3) Earthy is the flavor taste buds are craving for
As the population gets more health conscious and inclined towards functional foods – the choice of tastes and flavors are changing as well. According to Technavio, it is the flavors associated with herbs and plants which has gained an immense degree of popularity. For instance, ‘matcha’ flavor is equally popular in the UK and the US markets. Likewise, other earthy flavors like turmeric, chamomile, and parsley, too are catching up and finding a place in homes and cafeterias. Drinks with earthy flavors are usually rich in antioxidant, help in the weight loss process, and carry a rich aroma.
Overall, it is the functional beverages which have been ruling the beverages market this year. The year 2018 is sure to witness a lot more innovation and experimentation in terms of taste and packaging in the beverages industry.
