🥤 Top Trends to Watch in the Future of Beverages

Author

Peekage
June 18, 2024

Hi there! đź‘‹

Welcome to our latest newsletter, where we dive into the evolving landscape of beverage consumption. Today’s consumers are moving beyond drinking solely for pleasure or hydration. A significant 70% now prioritize drinks based on their functional benefits. Moreover, the demand for low and non-alcoholic options is on the rise. In this edition, we focus on non-alcoholic beverages and their emerging trends. Join us as we explore how these shifts are shaping the beverage market and what they mean for both brands and consumers.

Here is a summary of our study:

Do you want to go straight to the full version? Click here to read the full article.

🥤Trendy Tipples

Drinking just for fun or thirst is a thing of the past. Now, a staggering 69% of people choose drinks for a function, like boosting energy or helping them relax. There's also a big trend toward personalized drinks, with 57% of customers wanting beverages that fit their unique needs and lifestyles. Let's not overlook the surging demand for low and non-alcoholic options either. A new trend is emerging.

đź’ˇ Takeaway: Today's consumers are seeking drinks that do more than just quench their thirst. Functionality and personalization are key drivers in their beverage choices. Moreover, as we previously reported, sustainability and eco-friendliness remain significant factors influencing purchasing decisions. Don’t overlook this evolving landscape. Seize this excellent opportunity to tap into this burgeoning market.

đź’š Green Glasses

Sustainability is more than just a buzzword in the beverage industry. Our survey shows 42.7% of consumers find it 'somewhat important' when selecting a drink, and 28.8% deem it 'very important'. However, 15.3% consider it 'not important at all'. This split in consumer attitudes towards sustainability presents a diverse market perspective.

đź’ˇ Takeaway: This is a clear signal to 'go green' but with nuance. Target the majority who value sustainability with clear, authentic eco-friendly practices and branding. Yet, remember the significant minority for whom this isn't a priority—maintain a balance in your product offerings. Sustainability sells, but it's not a one-size-fits-all.

Do you want to read more details? Click here to read the full report.

🍹Enhancing Sips

Alternative drinks are getting a huge boost in popularity. Right now, 65% of customers have made these enriched drinks a part of their routine, with 39% being regular consumers. This is a huge opportunity in the market. Yet, there's still an untapped market, with 28% of customers who have never tried these nutritious drinks.

đź’ˇ Takeaway: There's a huge opportunity for drinks enriched with nutrients, which brands shouldn't miss. Offering new and exciting flavors or health benefits can help attract those who have already switched. Plus, educating the 28% who haven't tried these drinks yet will be key to winning them over. Focus on which part of this spectrum you want to target. Clearly, alternative drinks are growing fast and even outpacing traditional ones.

📦 Packaging Preferences

When it comes to beverage packaging, consumer preferences reveal a clear pattern. Multi-serve packaging is notably popular, with 34.4% of consumers favoring it for its cost-effectiveness and reduced waste. It’s notable that over 75% of consumers are either satisfied with single-serve options or have no preference, which appeals to those seeking convenience and portion control.

đź’ˇ Takeaway: Since a large segment is open to either option, consider offering a range of both single and multi-serve packages to cater to all preferences. However, with a substantial interest in multi-serve options, emphasize bulk packaging for home consumption and value-focused buyers. Single-serve should not be overlooked though, especially for on-the-go consumption and targeting individual preferences.

About Peekage

Peekage is an insightful product testing platform that provides affordable and fast consumer insights for CPG brands by collecting data through targeted at-home product testing and retail sampling.

Marketing teams leverage Peekage to boost awareness, drive sales, and increase retail velocity, and product and innovation teams use Peekage to run deep in-home product testing to optimize products, packaging, positioning, and messaging.