From premiumization to the rise of functionality, sustainability, and convenience, major brands continue to innovate to maintain their popularity in the global beverage market. Based on the current trends in the beverage industry, we have analyzed five types of beverage industry markets from 2020 to 2021. These trends have become obvious this year and may continue until 2021.
In many areas of the global beverage industry, high-end is a continuing trend. Spirits, especially rum, are expected to dominate this market in the coming months.
The shift in demand for high-quality beverages is obvious in all fields. The Bacardi Cocktail Trends 2020 report pointed out that in the United States, sales of vodka soda and flavored RTDS increased by 26%. Consumers are increasingly willing to spend more money seeking more luxury experiences.
It seems that consumers are drinking fewer and fewer beverages, but they are becoming more and more high-end. Obviously, consumers' values are being redefined, focusing more on quality.
After the Covid-19 outbreak, many consumers turned to healthier options, so health remains the top issue for the beverage industry. There is a clear focus on products that support physical and mental health. Therefore, beverage companies are innovating new ingredients to produce products with functional benefits.
In the market, more and more brands have added basic ingredients such as vitamins and nutrients to their beverages, as well as more professional additives such as adaptogens, CBD and probiotics. Their various benefits include energizing or relaxing, cleansing ingredients, helping to improve athletic performance, improving digestive health, promoting mood and reducing stress.
Although consumers are clearly willing to increase spending (as evidenced by the growth of high-end beverages), they are also driving demand for functional beverages. Therefore, the next generation of beverages will need to meet multiple needs, rather than focusing on a specific function.
The RTD market is growing exponentially. Beer and wine are no longer the only beverages pre-packaged in cans and ready to be consumed. Snacks and beverages and multifunctional food and beverage products are gaining momentum. When they are busy, consumers will buy some beverages that can relieve hunger and provide nutrition and energy. Therefore, we are seeing an increase in such beverages.
As people's physical activity and health awareness increase, the demand for ready-to-drink products such as cold brewed coffee and cold-pressed juices is also increasing. Convenient cold drinks provide instant energy, so they are more and more popular with professionals and fitness enthusiasts. They allow consumers to get instant satisfaction at the location of their choice.
Sustainability is an important topic. It can be said that this is no longer a trend, and is now considered a necessary condition for companies to stay at the forefront of competition.
For example, in the beverage industry, energy-intensive processes are often used to extract raw products or perform complex distillations. However, the growing consumer awareness of sustainable development is prompting companies to demonstrate more sustainable methods and environmentally friendly ethics.
5. Packaging innovation
The rapid development of the global beverage market and fierce competition have promoted continuous innovation in the packaging field. Generally speaking, beverages are famous for plastic packaging, but plastic packaging cannot be decomposed, so it will cause environmental pollution. Therefore, large companies and small start-ups are launching beverage packaging designed to minimize the environmental impact, which is characterized by fully recyclable materials and sustainable sources.
Although canned wine has been considered a cheap and convenient option for many years, more and more high-end wines are now packaged in cans. As consumers seek more sustainable and convenient options, canned wine is expected to grow substantially.
The future trend of the beverage industry needs to be clearly understood by each of our filling machine manufacturers, and according to the future trend, the beverage packaging method suitable for consumers should be selected, and the type of filled beverages that meet the consumer's preferences.