10 Consumer and Industry Trends Impacting the Alcoholic Beverage Industry for 2021

1. 10 Consumer and Industry Trends Impacting the Alcoholic Beverage Industry for 2021 Like all industries, the adult beverage industry has ongoing challenges. To better understand where things currently stand regarding the Industry for 2021 and beyond, we’ve highlighted some industry and consumer trends. Because consumer analytics are becoming more refined, Adult Beverage companies have sought providers like FiO. There is no longer a need for an army of data scientists on sta?. Spirit, Wine, cost-e?ective analytic and Beer manufacturers,

2. importers, and distributors can now see how these trends impact their businesses and have the correct information that anticipates and enables them to take the appropriate actions to grow sales. Let’s look at a couple of the more noteworthy developments. It’s a chicken and the egg situation. Consumer changes are impacting industry trends, as adaptation is influencing consumer behavior. well as beverage industry 1. The Adult Beverage Industry Is Not Slowing Down As more and more people are becoming more health-conscious, consuming less alcoholic has become a personal goal. They have been trying to do something tangible and work on themselves during Covid. But even with individuals slowing or stopping their consumption, the Industry hasn’t been impacted yet. It’s balanced out a little by some people drinking just as much or more as Covid stress-coping mechanism. In fact, the adult beverage market is expected to grow by 4 % over the next six years. The Industry’s outlook looks rosy (or Rosé, sorry couldn’t help myself ) for now. 2. Selling Online and Direct to Consumer Is Becoming More Popular As business has quickly adapted, alcoholic drinks can be purchased online DTC and even be delivered to your doorstep is becoming common. The online sales numbers in 2017 were $1.7 billion. Today’s numbers aren’t available, but they will far outpace that figure. Entrepreneurial companies like Drizly and Thirstie are already reaping huge rewards from online sales and o?-prem retailers’ delivery. Boutique players also have been quick to adapt their technology to sell DTC to expand their market footprint. More

3. options will flood the market because consumers have adapted to this convenience as well. 3. Sustainability and Pollution-Conscience Consumers It’s an exciting time for the adult beverage industry. We’re witnessing the rapid adoption of new twists on traditional drinks and more significant new concepts. As large and smaller beverage companies align their o?ering to mirror changing consumer preferences, further landscape will happen in the future. changes in the beverage Beverage eco-friendly packaging decision-making. companies as and have responded by becoming around more excess environmental single-use concerns plastic influence consumers’ Producers are also using alternative energy sources to run their operations, reduce waste from their plants, and eliminate plastic packaging. By mitigating their environmental impact, they can leverage their sustainability e?orts as a brand di?erentiator in advertising campaigns. 4. Premiumization Spirits, becoming connoisseurs. And the Industry is there to oblige. Consumers, especially the Millennial age group, are willing to spend for quality. They are also trading up by buying a little better-quality brand than usual. The Industry is smart to cater to this dominant demographic because it will dictate trends for the next 20 years. Additionally, due to Covid, most people haven’t been going out as much, so reallocating that money to purchase a higher quality product is a justifiable decision. Wine, Beer, and Co?ee have consumers eagerly 5. High-end Spirits Are Becoming More Highly Coveted

4. Another trend fueled by Millennials and adopted by Gen-X and Boomers is due to the internet’s ubiquity. You can learn about and have instant access to opinions, comparisons at your fingertips. If you want to know about the best options, you can quickly look them up. This has caused an awareness of premium products. And, that awareness is encouraging people to seek out, try, and collect. 6. Sake Is No Longer Just Famous In Japan Although not replacing the demand for Whisky, Japanese Sake is becoming popular. And that is reflected in the uptick in sales. This popular drink from Asia has a worldwide fan base, with the United States accounting for international sales. Residents of Japan have always known the virtues of this rice-based alcohol beverage. Now the rest of the world is embracing it too. approximately 30 % of Know https://www.groupfio.com/10-consumer-and-industry-trends-imp acting-the-alcoholic-beverage-industry-for-2021/ more visit our blog page :