"Better For You" beverages from local and global manufacturers are disrupting the traditional soft drinks landscape, especially in developed markets. The consumer path to premiumisation is increasingly aligned with wellness trends and functional ingredients. Opportunities abound, but how do players avoid rolling out a new product into an already saturated category?
Global economic uncertainty plus generational shifts in socialising behaviour together cast a long shadow over the outlook for on-trade alcohol. Historic patterns can no longer be relied upon for future success. Still, on-trade settings will remain vital to the industry given their pivotal role in consumer outreach, value generation, and brand awareness. Where will the opportunities be found?
A confluence of factors, including inflationary pressures, saturated Western markets, aging consumers in those areas, and China's economic downturn, has led to a saturation point in the global alcoholic drinks market. The next five years will likely see a surge in consumption within developing nations.
At the beginning of March, Euromonitor International attended Natural Products Expo West – one of the largest trade shows in the world focused exclusively on natural, organic and healthier consumer products. The event is an important showcase and launching pad for the latest trends in natural product innovation – particularly in the world of functional and better for you (BFY) soft drinks.
Perpetually low and falling fertility rates, sharpening anti-migrant sentiment, expanding GLP-1 usage, and the enduring impact of price increases have combined to create a situation where if aggregate calorie consumption at a regional level has not already begun to fall, it will start to in the near future. How to respond to this challenge ran through the strategies discussed by the food and beverage companies gathered at the annual conference of the Consumer Analyst Group of New York (CAGNY).
The Middle East is emerging as a key region for the global juice market. Consumer preferences are evolving, with health and wellness becoming a priority, encouraging many consumers to perceive juices as synonymous with nutrition and wellbeing. For example, in the United Arab Emirates, functional juices with benefits like metabolism-boosting and collagen-enriched options are gaining traction.