10 Consumer and Industry Trends Impacting the Alcoholic Beverage Industry for 2021 - PowerPoint PPT Presentation

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

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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. Know more please visit : – PowerPoint PPT presentation

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


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10 Consumer and Industry Trends Impacting the
Alcoholic Beverage Industry for 2021
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  • Like all industries, the adult beverage industry
    has ongoing challenges. To better understand
    where things currently stand regarding the
    Industry for 2021 and beyond, weve highlighted
    some industry and consumer trends.

3
  • Because consumer analytics are becoming more
    refined, Adult Beverage companies have sought
    cost-effective analytic providers like FiO. There
    is no longer a need for an army of data
    scientists on staff. Spirit, Wine, and Beer
    manufacturers, 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.
  • Lets look at a couple of the more noteworthy
    developments. Its a chicken and the egg
    situation. Consumer changes are impacting
    industry trends, as well as beverage industry
    adaptation is influencing consumer behavior.

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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
    hasnt been impacted yet. Its 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 Industrys
    outlook looks rosy (or Rosé, sorry couldnt help
    myself ) for now.

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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. Todays
    numbers arent available, but they will far
    outpace that figure.
  • Entrepreneurial companies like Drizly and
    Thirstie are already reaping huge rewards from
    online sales and off-prem retailers delivery.
    Boutique players also have been quick to adapt
    their technology to sell DTC to expand their
    market footprint. More options will flood the
    market because consumers have adapted to this
    convenience as well.

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3. Sustainability and Pollution-Conscience
Consumers
  • Its an exciting time for the adult beverage
    industry. Were witnessing the rapid adoption of
    new twists on traditional drinks and more
    significant new concepts. As large and smaller
    beverage companies align their offering to mirror
    changing consumer preferences, further changes in
    the beverage landscape will happen in the future.
    Beverage companies have responded by becoming
    more eco-friendly as environmental concerns
    around excess packaging and single-use plastic
    influence consumers decision-making.
  • 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
    efforts as a brand differentiator in advertising
    campaigns.

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4. Premiumization
  • Spirits, Wine, Beer, and Coffee have consumers
    eagerly 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 havent been going out as much, so
    reallocating that money to purchase a higher
    quality product is a justifiable decision.

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5. High-end Spirits Are Becoming More Highly
Coveted
  • Another trend fueled by Millennials and adopted
    by Gen-X and Boomers is due to the internets
    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.

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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 approximately 30
    of 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.

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7. Wine Is Going Beyond The Bottle
  • The classic image of Wine is the elegant ritual
    of opening, smelling, tasting before pouring from
    a deeply colored bottle. But soon, you may be
    drinking Wine from a can. More and more
    winemakers are offering their Wine in cans. Wine
    lovers havent rejected Wine-in-a-can because
    sales have doubled from last year. Drinking Wine
    from a can could become commonplace.
  • Know more please visit our blog
    https//www.groupfio.com/10-consumer-and-industry-
    trends-impacting-the-alcoholic-beverage-industry-f
    or-2021/
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