As consumers demand more better-for-you products, experts note that the juice and juice drinks category has been challenged in a unique way and struggled to maintain its share of the beverage market. “The juice/juice drinks sector has struggled during the past year,” says Susan Viamari, vice president of Thought Leadership at Chicago-based Information Resources Inc.
Market research firm predicts category to reach $9 billion by 2020
December 19, 2016
Tea sales in the United States have shown strong growth in 2016, continuing the upswing in ready-to-drink (RTD) and refrigerated categories, according to Rockville, Md.-based Packaged Facts. In its new report “Tea and Ready-to-Drink Tea: U.S. Retail Market, 6th Edition,” the market research firm estimates tea sales slightly exceeded $7 billion in 2015, up almost 6 percent. By 2020, Packaged Facts expects retail sales of tea in the United States to close in on $9 billion for the first time, it says.
With my college roommates getting married next year, I have made it my bridesmaids’ duty to help the bride-to-be get in shape before her big day. We’ve been using our FitBit app to help each other stay motivated and exercise, but cutting back on calories consumed also has been an important part of my personal goal. However, this has been more challenging than I anticipated, as I often desire a mid-day refreshing kick of energy.
To keep pace with consumers thirsting for new, better-for-you products, beverage-makers consistently are formulating and releasing new products into the market. Although it can be difficult to stand out from the rest on store shelves, some brands innovated to create their own buzz this year.
After a boom in growth in the early 2000s, the private-label consumer packaged goods (CPG) market has experienced stagnant growth since 2015, according to market research experts. Although the private-label beverage market has maintained its share of the market — and even experienced some growth — experts say that the market is expected to grow at low rates.
Purchase, N.Y.-based PepsiCo Inc. announced that it has entered into a definitive agreement to acquire Oxnard, Calif.-based KeVita, a producer of fermented probiotic and kombucha beverages. The transaction will expand PepsiCo's health-and-wellness offerings in the premium chilled beverage space, the company says.
American gymnasts Laurie Hernandez and Simone Biles might have made the balance beam look easy when they won their silver and bronze medals, respectively, at the 2016 Rio Olympics. However, achieving balance in eating, drinking and activity habits might not be as easy for consumers.
When it comes to consumer packaged goods (CPGs), consumers are faced with myriad choices. There are beverages designed to fuel their bodies before a big game, give them energy to power through busy days or to simply help boost immunity.
When it comes to food and beverage development, healthy usually is among the top considerations. In Beverage Industry’s 2016 New Product Development Outlook report published in the January issue, only 14 percent of respondents listed convenience a low need/interest.
Forty-four percent of consumers are visiting convenience (C-stores) stores more often — and half say they are visiting significantly more often than they did just two years ago, according to Chicago-based Datassential, which surveyed 1,000 consumers and 150 operators for its June “C-Store Keynote Report.” While visiting C-stores, these consumers also are buying more prepared food and beverages, the report notes.