New Consumer Preferences & Increased Investment Is Redefining Beverage Market Trend

New Consumer Preferences & Increased Investment Is Redefining Beverage Market Trend

By Knowledge Sourcing Intelligence Thought Articles

Increased awareness of deleterious effects of sugary beverages, the trend of dairy alternative consumption, rising abstinence form alcoholic beverages, the increasing inclination of ready-to-drink beverages that offers nutrition and refreshment on-the-go, the need for increased functionality in daily means of alimentation as well as the rising pool of health-conscious individual who prefers to remain hydrated while undertaking activities related to physical fitness as well as the cognizance that beauty is not a skin-deep aspect but needs a  comprehensive approach are few of the fundamental factors, among others that are poised to effectuate in the forecasted upward trajectory of the global beverage market.

 

beverage market

 

The Plant-Based Revolution Is Anticipated to Drive the Overall Growth of the Global Beverage Market

Plant-based innovation in food and beverages is thriving due to growing consumer health consciousness. Coupled with this development is the interest in interest in discovering the story behind their beverage, these two aspects are primarily responsible for steering consumers towards cleaner living and resultantly influencing purchasing decisions. To sustain the market relevance, the global beverage market that comprises both start-ups and large corporations are increasingly investing in R&D and new product development to make clean-label dairy alternatives, among others, with enhanced nutrition nutritional profiles. commercially available to global consumers. To this end, it’s important to note that as per the estimates of Knowledge Sourcing Intelligence, the plant-based beverages market has been forecasted to grow at a CAGR of 4.91% to attain an estimated market value of US$12.105 billion by 2024 from the estimated market value of US$9.080 billion in 2018.

Fermented Drinks Are Gain Traction Which Is Anticipated to Create Favorable Conditions for the Global Beverage Market Growth

25 centuries ago, when referring to the relevance of the gastrointestinal system for human health Hippocrates also remarked that “All diseases begin in the gut”. Presently, the human microbiome studied by scientists suggests that fermented foods should be included in healthy diets include to temporally improve live microorganisms in the human gut. Based on the inclination for healthier, more natural, and inherently functional products and increased aversion towards overly sweet formulations, the fermented drinks market has emerged as the new contributor of varied flavor profiles to the soft drinks market which was estimated by Knowledge Sourcing Intelligence to be of the market value of US$39.82 billion in 2018 and has been forecasted to grow at a healthy CAGR. Further with the growing trend of plant-based beverage consumption, cereals, fruits, legumes, pseudo-cereals, and vegetables have been identified as the promising carriers of bioactive compounds, prebiotics, and probiotics in concentration levels which are beneficial for gut health. Catering to the growing need to address the nutritional needs as well as to supplement the enhancement of gut microbiome health of certain sections of consumers who are allergic to milk proteins, hypercholesterolemic, or vegan the fermented drinks market which have been forecasted by Knowledge Sourcing Intelligence to grow at a CAGR of 24.19% to attain an estimated market value of US$3,799.830 million by the year 2025 from the estimated market value of US$1,305.525 million in 2019.

The aforementioned has been further substantiated by recent research published in June 2020, in a peer-reviewed open-access journal of human nutrition called Nutrients (ISSN 2072-6643; CODEN: NUTRHU) published monthly online by MDPI, which states among a myriad of potential fermented legume beverages soybeans have been identified as a potential vehicle for probiotics, being able to maintain high viability to exert their beneficial effects on human gut microbiota. Chickpea has been identified as a promising alternative to soy as a carrier of probiotics. On the other hand, the research also states emphasizes the importance of cereals as part of the global diet which is a known source of carbohydrates, dietary fiber, minerals, proteins, and vitamins, making it an ideal non-dairy raw material for producing fermented beverages. Among the myriad of cereals, oat has been identified as a potential functional ingredient because of its antioxidant properties, proteins, and soluble fiber, as well as β-glucan which is the most essential carbohydrate fraction due to its prebiotic characteristics in the gut.

Cider, Perry, Mead and Other Fermented Beverages and Mixtures of Fermented Beverages and Non-Alcoholic Beverages* (GLOBAL IMPORTS)

beverage market

*excluding beer, wine or fresh grapes, grape must, vermouth and other wine of fresh grapes flavoured with plants or aromatic substances

In Millions of US$

Source: International Trade Centre

Rising Consumer Awareness of the Ingestible Beauty Trend Is Poised to Result in Robust Global Beverage Market Growth

This has resulted in the nutrition industry to invest in new product developments and delivery formats. With the world revising its nutrition options and a potential source of raising immunity concomitantly endeavoring to combat lack of sleep and stress as effects of COVID 19 are being experienced all over the world. Also, with the advent of microencapsulation technology which compensates for the poor bioavailability of certain effective anti-inflammatory as well as antioxidant ingredients, there are increased options made commercially available for improving overall skin health. Further collagen has been a widely recognized ingredient that extends the protection of the complexion from yeh harmful effects of pollution a climate change. To this end, NISSIN FOODS (TYO: 2897) has reportedly forayed into the beauty-from-with space in January 2019 with the launch of its very first beauty drink called HYAL Moist Beauty Essence that is intended for women.

This product is essentially a fermented liquid infused with collagen and a special formulation that has been developed in Nissin’s laboratory that converts lactic acid bacteria into hyaluronic acid. Also, it is important to note that according to the estimates of Knowledge Sourcing Intelligence, the global beauty drinks market has been forecasted grow at a CAGR of 10.56% to attain an estimated market value of US$1505.062 million by the year 2025 from the estimated market value of US$824.074 million in 2019. Health consciousness is also a key determinant of the global energy drink market which as per the estimates of Knowledge Sourcing Intelligence, has been forecasted to grow at a CAGR of 4.05% to attain an estimated market value of US$25.067 billion by the year 2025 from the estimated market value of US$19.754 billion in 2019. The aforementioned instances are an attestation to the proactive investments made by the global food and beverage industry that has the potential to facilitate the substance of the upward trajectory of the global beverage market. Besides the rapid rate of urbanization, projected population growth, increasing access to disposable income, changing dietary patterns are a few of the factors which are poised to augment the growth of the global beverage market.