Alcoholic beverage market has remained strong in the previous year, despite there being more trends that are leaning towards non-alcoholic drinks. However, what will happen in the alcoholic beverage industry in the next year?
There are already some hints at trends that will continue to grow and new trends that will appear in the market.
Here are some of them:
There were only eight craft beer breweries in NYC in 2012. But now there are more than 41. This huge increase that hasn’t stopped since shows that the craft beer trend is only going to grow in the future. These numbers are replicated across the United States and many other countries as well. You can expect even more craft beer breweries in the upcoming year and in the future as well.
Despite the legal challenges, there is a growth in online alcohol sales. Drizly is an alcohol delivery system company and it has noted a consistent growth of revenue in the past few years. Their revenue has grown by 61.8 % in 2017 and even more in the previous year. This is an amazing growth considering the laws and legal problems. Still, this industry seems to be steadily growing.
Millennials drink less alcohol than any generation but they enjoy cannabis more. This is why businesses are now creating pot-laced drinks that will satisfy this market. Companies are trying to meet the Millenials half way by introducing cannabis into their drinks and this market is predicted to grow by $31 billion by 2021. Beers can contain hemp and they are already on the market where pot is legal and non alcoholic beverages with pot are also out there – of course, in places where it’s legalized. Constellation Brands Inc has invested more than $200 million into these drinks.
Premium beers and alcoholic beverages have taken over the market in recent years. Young people are no longer drinking without considering the quality – they are drinking less but more quality drinks both alcoholic and non-alcoholic. Cheaper brands are taking a hit as Millenials and Gen Z choose more expensive, premium brands.
Men and women have equally embraced craft gin. So, it would now be wrong to categorize this drink as traditionally female beverage when so many people across the globe are consuming it despite the gender. Both genders interact on social media and they are all fans of these drinks. Founder of The Gin Box has confirmed this. One of the fastest growing brands is Napue Gin and it has grown from making 500 bottles per month to making 600000 bottles a month.
Chatbots are popping up in almost every industry and it’s no wonder they showed up in the beverage industry as well. For instance, United Spirits Limited has created a chatbot named Simi, a personal bartender which is beloved online. Simi has a cocktail recipe book with more than 2000 recipes all containing their products. It’s dun and it also features other spirits brands. The chatbot will gain intelligence enough to offer alcohol and ingredient based preference as well. Facebook reported that Absolut also gained a sales lift because of their chatbot on Messenger.
There is a new trend for a clean and minimalist design of packaging with sans serif fonts and bright colors which jump out at you when you see it on the shelf. This is dominating the new launches. This design feels new and fresh for the new generations which don’t like the traditions very much. You can see this packaging in Finest Roots, Napue Gin, AND UNION, Biles Hendry and so on.
The new year will see many new no-ABV cocktails. These options are really popular with younger users and the trend is only getting stronger. Look at the spirit brand Seedlip, for example. This is all about the choice. People want to have great drinks on any occasion without compromising and getting something poor in favor. Flavor is the key. Low or no alcohol options allow the users to enjoy the fullness of the taste without having to compromise their safety because of alcohol. There is a growing awareness of these cocktails which are as intricate as rea meals. It’s not going to eliminate alcoholic cocktails but it’s more about adding something new to the repertoire.
This industry is truly on fire and people are experimenting more and more with these drinks. Celebrities are backing this industry – George Clooney, Chris Noth and so on. The agave spirits sector is set to only grow.
These have been just some of the trends that are going to gain on popularity in the future. You can expect many more to come. Make sure you enjoy your favorite drink once in a while!
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