A review of the drinks sector and existing market trends

Below you will find a discussion on the function of beverage services and businesses in the current foodservice industry.

Among the fastest growing developments within foodservice is the global drink industry. Comprising of both basic and uncomplicated juice services to intricate, skilfully made barista developments, this sector includes a large range of opportunities for any aspiring business owner. Massively driven by social media trends, the aesthetic worth of beverages is coming to be significantly important for its social value. Put simply, individuals are more likely to purchase an expensive beverage if it looks impressive. Particularly in the age of the internet, taking and sharing carefully curated lifestyle pictures is a major marketing tactic throughout many industries, most particularly, in the drinks market. This has led many drinks companies to reconsider here their product packaging and branding, along with the presentation of their items. Aesthetically pleasing trends such as bubble tea and matcha have considerably grown in demand among customers for being both delicious and interesting to look at. The head of the fund which owns Gong Cha would agree that strong product branding and looks are helping to make drinks stand out in a currently competitive market.

While on one hand, the beverages service industry is quickly gaining appeal, establishing a steady position in the food economy, there is also a competing pattern which has infiltrated the consumer market. Specifically, home mixology and home barista trends are leading more people to invest in the tools and ingredients to replicate their favourite drinks services at home. Regardless of what appears like a reason for consumers to buy less beverages, this DIY motion is developing a variety of opportunities for brands to go into a whole new area of the market. In fact, it is becoming more common to find beverage mixes and kits under major brand names, as a way for them to become more involved and profit from this movement. In addition to this, beverage industry data reveals that the marketplace for luxury barista equipment is continuing to increase. The CEO of the company which owns Nespresso would have the ability to confirm this claim as consumers are buying coffee devices and ingredients to make their morning brew at home.

In particular, the alcohol industry is being formed by a variety of new consumer interests and needs for premium drink alternatives. In fact, the premiumisation of drinks is an existing trend that is supported by the mindful drinking mindset which many consumers have embraced. By being more conscious about alcohol consumption, customers are aiming to enjoy higher end goods made with quality ingredients. The head of the fund that has a stake in Pernod Ricard would acknowledge that it seems to be the case that customers are more willing to pay premium costs for top notch products that focus on craftsmanship and unique product offerings.