Many beverage manufacturers are “shooting for the moon” in hopes of giving consumers innovative new products that also will become classics within the beverage industry. See Beverage Industry’s Top 5 innovative products.
Sustainability is the No. 1 attribute of this year’s top packaging designs. Artistic collaborations also are helping brands stand out on store shelves.
Founded in 2014 by Blair Bentham, OXIGEN has grown 300 to 400 percent year-over-year. It recently closed on $15 million in Series B funding, which will help the oxygenated water brand build brand awareness and scale national distribution.
Due to COVID-19, the independent craft beer market is seeing product volume declines of around 8 percent. Yet, craft brewers have been able to invest in new platforms and modes of selling. Those utilizing eCommerce and offering enhanced to-go offerings and food are reinventing themselves to drive growth.
For the past several years, dairy milks have been on a downward trajectory. Yet, the pandemic and consumers working from home has reinvigorated the $16.3 billion dairy milks category. In the plant-based dairy alternative market, almond milk is No. 1, but oat milk has surpassed soy milk.
To create a circular economy while healing the planet, beverage wholesalers, supply chains and consumers all must do their part. This includes adopting zero-waste initiatives, recycling waste and running facilities on solar power.
The process for aging premium spirits is undergoing a new twist. Co-founded by Stu Aaron and Martin Janousek, Bespoken Spirits has developed a new proprietary process for sustainably maturing spirits in a matter of days, rather than years.
Cannabidiol (CBD) is helping consumers “mellow out” with an all-natural, functional ingredient designed to help alleviate pain, stress and anxiety. Twenty-eight percent of consumers are interested in trying CBD beverages, according to Mintel.
The bottled water category continues its premium turn, as beverage-makers experiment with new ways to improve water’s hydrating ability and add extra health benefits.