Carbonated soft drinks (CSDs) have long been the top seller in the U.S. beverage market based on volume. Last month, however, New York-based Beverage Marketing Corporation (BMC) announced that U.S. volume sales of bottled water eclipsed CSDs in 2016, making it the No. 1 consumed packaged beverage. This shift followed more than a decade’s worth of single-digit volume declines for soft drinks.
Like many parents, Bob Leary, Peter Dacey and Casey Hoban wanted to provide their children with healthy foods and beverages. With that goal in mind, the three fathers came together with a vision to create a beverage that offered a functional benefit without the excess calories that many child athletes were consuming, explains Leary, co-founder and chief marketing officer at Trimino Brands Co. LLC, Branford, Conn.
Regardless of whether consumers are drinking beer, wine or spirits when dining out, suggested food pairings and recommendations from influencers, like bartenders and wait staff, can motivate consumers to try something new or trade up to a more premium product.
In the mid-1990s, when the craft beer movement still was in relative infancy, Stone Brewing co-founders Greg Koch and his homebrewing partner Steve Wagner were busy experimenting with beer recipes and bemoaning the “industrial fizzy yellow stuff.”
Although it has been available in the U.S. beverage market for about 15 years, kombucha has gained broad consumer appeal within the past several years, according to New York-based Beverage Marketing Corporation’s (BMC) September 2016 report titled “U.S. Ready-To-Drink Tea through 2020.” As health and wellness has progressed from a niche interest to mass consumer appeal, this beverage segment has reaped the benefits.
When Austin Allan traveled to Madrid to study abroad in 2001, he did not know that the upbeat people, culture and lively, rich flavors of Spain that he “fell in love with” would result in a new livelihood: Tio Gazpacho.
As consumers’ shopping behaviors continue to evolve, the drug store channel has seen a boon within beverage aisles. Although the channel is struggling to grow, beverages could offer potential for the channel going forward as these stores expand their offerings, says Evan Hoffman, industry research analyst at Los Angeles-based IBISWorld.
Just like the stock market has seen its share of highs and lows, the U.S. beer market also has had its own ebbs and flows. Despite some single-digit declines that were peppered in throughout the past decade, the beer market seems to have leveled out, experts note.
The trades taking place on Wall Street often can come with a sense of urgency and anxiety for brokers and their respective clients. However, consumers also are opting to “trade up” when it comes to their beer selection.