|
|
|
You can get e-magazine links on WhatsApp. Click here
|
|
|
|
|
|
Trends shaping beverage industry with impact in 2020
|
|
Sunday, 01 March, 2020, 08 : 00 AM [IST]
|
|
Ambarish Ghosh
|
With the growing awareness around wellness, fitness and sustainability, there’s a lot of thought that goes into what beverage a person chooses today. It is no longer just about taste and satisfying a craving, but also ensuring that it ticks off all the right boxes, from health benefits to environmental concerns and sustainability.
Over the years, tastes have evolved. Today’s consumer knows exactly what he or she wants and is not afraid to experiment – be it matcha-based drinks loaded with antioxidants, fermented kombucha tea that does wonders for one’s gut health or exotic fruity teas that are surprisingly refreshing. The beverage industry, for its part, is adapting and innovating to cater to these demands. Here are some trends that are shaping the industry and will continue to have an impact in 2020 and beyond.
Sustainability first
As conscious consumption becomes more of a norm, brands and their commitment to the environment and society will play a major role in influencing people’s buying decisions. Consumers are paying more attention to environmental concerns and to tracing the origin of the ingredients. This is especially true for tea manufacturing. The modern consumer is willing to pay more for tea that has been cultivated ethically and without much environmental impact.
Packaging also plays a key role in demonstrating a brand’s commitment to sustainability. As the entire beverage industry looks for ways in which it can reduce the dependence on plastic, a number of tea brands have made their packaging more ecofriendly. They do this by using recyclable and biodegradable materials.
Health is everything
Today’s consumers, primarily millennials, put health at the forefront before everything else. They prefer to avoid fizzy carbonated drinks loaded with sugar and chemicals and choose more natural beverages. In fact, the consumption of soft drinks is officially on the decline.
On the other hand, functional beverages like kombucha, which are loaded with gut-boosting bacteria, and green tea that’s full of antioxidants, have become popular and healthy substitutes for those in the market for more natural and healthy thirst-quenchers.
Convenience is king
In this fast-paced world, convenience is key. So ready-to-drink and easy-to-carry beverage options are becoming more popular for the busy individual on the go. These beverages, like ready-to-drink tea and coffee, are healthy and convenient, filled to the brim with antioxidants and other natural goodness, and act as low-calorie energy boosters.
More focus on functionality
When it comes to beverages, less is not more. On the contrary, customers look for multiple benefits -- more energy, less stress, better skin and hair, improved gut health, and of course, great taste. The more functional benefits available the better. According to a report from KPMG, the global functional beverages market is expected to grow at a CAGR of 8.66 per cent from 2019-2024 and be worth 208.13 billion by 2024.
Their beverage needs to be a magic elixir that can keep them healthy, happy and hydrated. Other than plant-based herbal teas or tea-based energy drinks, there’s also moringa tea that’s believed to be a superfood which can regulate blood pressure, chamomile tea that can help one destress and sleep better, or peppermint tea that can help improve digestion.
The premium factor
Discerning consumers also know that niche brands with premium products do not compromise on quality and are ready to pay more for this guarantee. So, whether it is premium wines, single origin coffees or fine organic teas sourced from around the world, the premium category in beverages is seeing more takers.
Stretching the boundaries
Tiramisu-flavoured tea or coffee and blackberry infused chai? Even a few years back, it would have been impossible to believe that these blends are available in India which is typically inclined towards sugary milky tea. However, recent years have seen the reinvention of the beverage with more unusual and exotic varieties becoming available in the market. While brands go all out on innovation and experimentation, the consumer is also reciprocating by demonstrating a willingness to extend his or her boundaries.
Traditionally, while the story of tea is thousands of years old, newer trends, technologies and ever-evolving consumer tastes are rewriting new chapters. This make 2020 and beyond an exciting time to be a part of the beverage industry.
(The author is founder and director, The Hillcart Tales)
|
|
|
|
|
|
|
|
|
|