Beverage sales expected to increase through 2025

0

Sales projections are complicated for 2021 and beyond due to vaccination lockdowns and coronavirus variants.

According to the Packaged Facts benchmark coverage update of retail beverage sales in Beverage Market Outlook 2021: Retail Beverage Trends & Consumption Preferences, sales of major beverage categories are expected to grow by 2.2% annually by 2020 to 2025, but not at a constant rate. rate over this period. Sales increased in 2020 due to the impact of the coronavirus, with consumers eating and drinking virtually everything at home.

Retail beverage sales have not seen as large an increase in 2020 as retail food sales, as a high percentage of packaged beverage consumption occurs when people are not at home (for example, at school, at work, at events, at gyms, exercising or traveling). In addition, a relatively high percentage of beverage sales (especially water, sodas, energy drinks, and ready-to-drink juices and teas) take place in convenience stores, which lost a lot of consumer traffic in 2020 in due to reduced activity in travel, daily commuting. , etc.

Beverage Market Outlook 2021: Retail Beverage Trends and Consumption Preferences analyzes and highlights short-term factors against the backdrop of overall industry development and long-term consumer preferences and behaviors, as well as innovations in marketing and product development.

Beverage sales growth is expected to be significantly weaker in 2021 as many Americans receive vaccines and much of the country resumes pre-pandemic operations and beverage spending shifts to food outlets rather than outlets. retail, at least to some extent. The rise of the Delta variant and the threat of future variants, along with a freeze on vaccination rates, complicate sales forecasts for 2021 and beyond.

Actionable information is available as this report examines behaviors related to COVID during the pandemic and beyond. The extraordinary impact of the crisis has considerably changed the behavior of consumers, accelerating the manifestation of many of them. As life returns to more regular patterns throughout the year and beyond, several trends in the beverage industry are expected to gain even more traction. These include dairy-free / plant-based functional attributes, sugar reduction, hybrids, CBD, plastic packaging solutions, and developments in online sales and distribution.

Packaged Facts, a division of MarketResearch.com, publishes market information on a wide range of topics related to the consumer market, including consumer demographics and information on buyers, food and beverage market, consumer financial products and services, consumer and retail goods, and pet products and services. Packaged Facts also offers a full range of personalized research services.

Share.

About Author

Comments are closed.