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The beverage industry is expected to see several new trends, with an increased emphasis on health and wellness. Younger generations are leading the charge and expect transparency and innovation. Lower alcohol by volume (ABV) in cocktails and IPAs; drinks that are lower in calories, sugar and carbs; non-alcoholic craft beers; and drinks that complement an active lifestyle are all dominating the market.
Besides health and wellness, what other trends can we expect in the beverage industry?
With the pervasive shift towards digital across industries, it should be no surprise that the beverage industry is following in the same stead. While this industry has struggled to expand digitally due to regulations, suppliers and distributors are making strides in 2020. This shift is significant because online shopping encourages consumers to make impulse buys and allows them to meet their needs in a convenient manner.
Large beer companies are broadening their horizons. Instead of solely focusing on beer, they are beginning to make acquisitions in spirits and some segments of wine. They are also investing in ready to drink cocktails and traditional spirits. Hopping on the cannabis bandwagon, big players in the beer market are creating products with hemp and imitating the scent of cannabis. Craft beers should anticipate changes in consumer preferences too, and look towards traditional styles such as American and Mexican lagers.
Everyone wants to sip on hard seltzers in 2020, and it seems like every segment in the beverage industry knows it. Major seltzers are of course the leaders, but certain customers will appreciate niche features such as higher ABV, healthy ingredients and fresh takes on hard kombucha and coffee. Expect growth in these areas!
The top targeting segments across categories can inform audience personas through insight discovery in interests, intents and behaviors. What are we finding in the beverage industry?
Music topped all other segments in hobbies and activities with a 98% match. The rest of the results showed that arts and music combined, food, clothing, rock music, family, retail, comedy movies, physical exercise and reality TV shows performed best in their categories.
The top five segments for the beverage audience are shown below:
What can we learn about the age and gender distribution of beverage lovers? Demographically, about 30% are aged 25-34 and about 18% are 35-44 years old. Importantly, the beverage consumer skews female with 65.3% women.
It will be important for marketers to target members of the younger generations as they are leading the charge in health and wellness and many of the other trends we mentioned above.
The top persona in this industry is a music lover, which means that marketers may want to think of ways to reach beverage consumers through the use of music.
As we saw in the marketing trends section, beverage lovers are health-conscious and value transparency. This year, there will be many trends unravelling, especially as they relate to broadened product categories, canned beverages and hard beverages. What else do these consumers care about?
From targeting insights, we’ve gathered that they are interested in entertainment, hobbies and activities, business and industry, sports and outdoors and arts and music.
You may be wondering where all of these data insights are coming from: the answer is Trapica’s benchmark reports. Trapica is a B2B company that uses artificial intelligence to provide marketing solutions for companies seeking to optimize their campaigns. It works with businesses across a variety of verticals such as e-commerce beauty and apparel brands, education, content publishers and more. The platform offers tools including competitor ad library, automation, insights and benchmark reports like this one.
The data in the benchmark report tool is sourced from Facebook and organized by Trapica. It takes a niche industry and displays data visualizations to help businesses understand their audiences. With this product you can go through a quick overview, audience discovery, geographic and demographic reports. Following these four main categories the tool will unpack segments in the entertainment, hobbies and activities, food and drink categories and miscellaneous items at the bottom.
If you are looking for key insights into your audience, Trapica’s new tool can help you with segmentation and other marketing tactics. Click here to access Quollo's Beverage Industry Benchmark Market Research Report, and don’t forget to check back for more articles on other industry reports in the future!
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