The top trends in the beverage industry this fall, according to experts
Even though celebrities endorsing products is nothing new, there is a new trend in the beverage business. George Clooney and Jennifer Aniston have both backed products like Smart Water and Nespresso. Vineyards and champagne houses are also teaming up with big names to grow their brands. Cameron Diaz, for example, has made a line of “clean” wines, like an organic French rose and a Spanish white with no added sugar. These celebrity endorsements are a nod to the growing interest in health and wellness over the past few years.
In addition to Matthew Iovane, several trends in the drinks business have already started to show up this fall. As more people try to cut back on sugary drinks, sugar consumption keeps going down. In response, companies that make drinks are making versions with less sugar or no sugar at all. Some popular zero-sugar products are Dr. Pepper Zero Sugar, Red Bull Sugar Free, Monster Energy Zero, and others. In addition to lowering the amount of sugar in their drinks, beverage companies are also making the lines between their products less clear.
Hard seltzer and drinks with extra stuff in them are getting more and more popular. Within a year, the first big beer-brand soft seltzer, which was made in Mexico, became the most popular soft drink in the world. Some journalists thought that Coca-Cola might make more products with alcohol in the future. Several brewers are trying to get into the spirits market, with a focus on vodka and metal, whose popularity has grown in recent years. But whiskey and vodka are not as popular as beer.
Cheap drinks have become a major trend in the drinks business. The fact that cheap drinks are popular has also helped the people who make alcohol. AB InBev, for example, grew a lot in the third quarter of 2020 in the U.S., thanks in part to how easy it was to get drinks to customers. The growth was helped by Michelob Ultra and Bud Light Hard Seltzer. The growth of Bud Light in the U.S. could make it easier for other beverage companies to get into the CBD market.
Matthew Iovane recommends that collaboration is becoming more popular in the beverage industry. For example, C4 Energy and Mars Wrigley worked together last fall to make four new flavors based on STARBURST candy. This partnership is still going on this year, and the companies are working together with Skittles even more. Consumers like these kinds of partnerships more and more, and beverage makers will have many more chances to build their brand equity.
The rise of low-ABV beverages is another booming trend. Many people have been interested in alcoholic drinks, but non-alcoholic drinks are becoming more popular. In fact, sales of non-alcoholic spirits have gone up 33% in the last 52 weeks, and they are expected to go up another 33% by 2023. The move toward a healthier way of life has had an effect on the beverage industry.
Also on the rise are functional drinks. More and more people are looking for drinks that do more than just taste good. According to research from Mintel, the best functional drinks of 2019 are those that reduce inflammation, are not alcoholic, and have medicinal mushrooms in them. More and more of these products are sold as teas, powders, and tinctures. If you want to add a little something extra to your menu, try some of these new drinks.
Coca-Cola is a company that depends a lot on troubled categories. Even though soda is bad for you, the company has been adding more types of drinks to its lineup to make up for the downturn. PepsiCo and Coca-Cola, two of the biggest soda companies, both started selling fully seltzer water in 2018. Coca-Cola has been aggressively buying up other companies, like Starbucks and Costa Coffee, in addition to adding more drinks to its lineup.
Bubble tea is another trend that will make a big splash in the drink business. Even though bubble tea is controversial, it is now a popular drink all over the world. By 2027, the bubble tea business is expected to be worth $4.3 billion. The experts also think that hard seltzers will keep getting more popular in the years to come. So, if you know a lot about food and drinks, you might want to take this college course to keep up with the latest trends.
Coca-Cola and Molson Coors Beverage are teaming up to make a hard seltzer called Topo Chico Hard Seltzer. It will come out in early 2021. Since then, sales of the new drink have gone through the roof, which has helped the category pass sales of spirits. Even though Topo Chico’s growth has slowed this year, it is still one of the first alcoholic drinks that Coke has put on the market in decades.
Pop-ups and street food vendors have become more common in North America as the number of street food vendors has grown. Matthew Iovane pointed out that there are more than 100 food carts that are allowed. Some people don’t like this trend, but others are glad to see it grow. In fact, the magazine Bon Appetit said that pop-ups are not restaurants. People are getting to try new foods and drinks because of this new trend.
