With so much difficult news to digest, it can be hard to find something to inspire a smile. However, the response from the spirits community not only got my chin up, but continues to amaze me each passing day.
In 2019, sales of legal cannabinoid-containing products in the U.S. generated between $12-$13 billion; however, cannabis-infused beverage account for between 1.5 and 3 percent of the greater cannabis market. Although still a small portion, analysts see potential for growth of this category should legal restrictions change.
American shoppers are undergoing their own migration by embracing an amalgamated approach of in-person and digital shopping. Because of omnichannel trends, in-store merchandising strategies will need to prioritize speed, convenience and the ability to accommodate evolving shopping trends. Flexible merchandising solutions are fulfilling that need.
GlobalData reports that in 2019, the U.S. hot tea market stood at $2.8 billion and is expected to have a compound annual growth rate (CAGR) of 4.8 percent through 2023, reaching $3.4 billion. The projected growth is expected to come from the category’s plethora of innovative solutions.
During his lifetime, Apple Co-founder Steve Jobs had a bevy of statements that have been used to inspire entrepreneurs across the globe. One that is commonly referenced is when he stated, “I want to put a ding in the universe.” In the beverage industry, innovators are leaving their mark by creating a more convenient universe through new product development.
With guidelines from the World Health Organization (WHO) and exemptions and authorizations granted by the Alcohol and Tobacco Tax and Trade Bureau (TTB), many spirits-makers are helping to manufacture ethanol-based hand sanitizer.
In the Maroon 5 song "Sugar," the band references a man's need for love from the woman he cares about. However, if the songwriters had been watching the sweetener trends, they might have been more inclined to mention a more in vogue sweetener.
Beverage Industry’s August issue, discover how craft spirits are embracing “local” and innovation in our cover story. Up next, get insights into how the pandemic has ended up benefiting the club store channel, and impacted beverage research and development by spurning importance of immune-boosting ingredients. Among the latest in new products and packaging, get an exclusive look into citrus ingredients, energy drinks, and how technology and sustainability trends are driving beverage manufacturing and innovation.