The Hottest Beverage Industry Trends Guaranteed to Skyrocket in 2024
Staying updated with the latest developments in the beverage industry trends is crucial for your business strategy.
Our blog post will provide an informed view of these trends, offering clear insights into 2024’s beverage landscape to guide your decision-making process. Ready for a taste of tomorrow? Let’s dive right in!
- CBD – infused relaxation drinks and bubble tea are expected to be popular in the beverage industry trends in 2024.
- Fermented drinks like kombucha and kefir are gaining popularity due to their health benefits.
- Sustainable packaging and alcohol-free beverages are on the rise as consumers seek environmentally-friendly options.
- Beauty drinks with skincare benefits are also projected to be popular choices in 2024.
2024 State of the Beverage Industry Trends
The beverage industry is changing fast in 2024. There will be a big focus on the performance and trends.
CBD-infused relaxation drinks, for example, are becoming more popular.
In the United States, we can expect to see changes too. Supermarkets and vending machines will sell most of our drinks in 2024. This way of selling drinks is already gaining ground! We need market research to stay up-to-date with what people want from their beverages this year.
The Future of Caffeine: Cutting-Edge Advancements in Nootropics
New things are happening in the world of caffeine. More and more people want products that boost brain power. These products are called nootropics. One way to make a strong nootropic is with guayusa, a type of leaf.
Guayusa can help us focus better.
The money people spend on caffeine will go up between 2024 and 2030. Many want to stay awake using natural ways, not chemicals. They also care about their brain health and clear thinking.
One study looked at AmaTea®Max organic guayusa extract as a good nootropic for focus. This could change how we use caffeine in the future!
Nootropics might even make your memory and learning better! Market data shows that sales for brain supplements will increase from 2024 to 2032.
In fact, the worth of all global nootropics was USD 2.63 billion last year – wow! And it will grow by around 14.6% each year in time ahead.
These drinks don’t just wake you up; they also improve your mental clarity and alertness levels while optimizing performance too.
Enhancing Operational Efficiency and Reducing Footprint: Using Spiral Conveyors
Spiral conveyors are a big deal in the beverage industry. These handy machines can carry drinks up and down in tight spirals. They save a lot of space. This makes them great for small areas.
The best part is that they make work easier and faster too.
Beverage makers use artificial intelligence with spiral conveyors for even better results. AI helps to cut waste, boost speed, and fit more into less space. It also lets beverage makers change their product lines without much fuss.
Many of them are using this setup to test fruity drink blends.
More Beverage Companies Turning to Rail-Based Logistics Solutions
Beverage companies are increasingly using rail-based logistics solutions in response to the uncertainties in the industry. One example is G3 Logistics, based in Modesto, California.
This shift in logistics is highlighted in the State of the Beverage Industry report, which provides insights into trends and performance in all categories.
With the zero sugar beverage market expected to grow rapidly, more companies are turning to rail transportation as a way to enhance their operational efficiency and reduce their environmental footprint.
Beverage Industry Trends in 2024
CBD-infused relaxation drinks, bubble tea craze, functional beverages, fermented drinks, star-powered beverages, sustainably packaged beverages, spiked sodas and alcohol-free beverages, beauty drinks, and protein water will dominate the beverage industry trends in 2023.
CBD-infused relaxation drinks
CBD-infused relaxation drinks are a growing trend in the beverage industry for 2024. These drinks contain CBD, which is a compound derived from hemp plants that doesn’t make you high but can help with relaxation and stress relief.
The market for CBD-based beverages was valued at $4.52 billion in 2023 and is expected to have an annual growth rate of 25.6% from 2024 to 2031. Restaurants are adding CBD-infused cold-brew coffee, and tea to their menu to cater to this popular trend.
With the market share of cannabis beverages increasing by over 40% in the U.S. and Canada since last year, it’s clear that CBD-infused relaxation drinks are here to stay as a favorite choice for those looking for a calming beverage option.
Bubble tea craze
Bubble tea is one of the popular drink trends in 2024. This trendy beverage originated in Taiwan and has become a worldwide sensation. It’s a refreshing drink made with tea, milk, or fruit flavors combined with tapioca pearls or other chewy toppings like jelly or popping boba.
Bubble tea offers a unique texture and taste that appeals to many people, especially younger generations. With its fun and Instagram-worthy appearance, it has gained a massive following globally.
In fact, the global bubble tea market size was valued at $2.29 billion in 2022 and is projected to grow even further to $4.08 billion by 2030. The market is estimated to reach an impressive $6.2 billion by 2032 with a rapid-paced CAGR (Compound Annual Growth Rate) of 9% from 2024 to 2033.
Fermented drinks are one of the top drink trends in 2024. These drinks, such as kombucha and kefir, undergo a natural fermentation process that creates probiotics and other beneficial compounds.
They’re not only delicious but also offer health benefits like improved gut health and immune support. The fermented beverage market is growing rapidly, with projections showing it reaching $2.14 trillion by 2024 and expected to continue growing in the coming years.
Consumers are increasingly interested in these traditional fermentation techniques and are seeking out more options for their wellness routines.
Drinks with star power
In 2024, one of the rising trends in the beverage industry is drinks with star power. These unique and innovative beverages are expected to gain popularity and capture consumer attention.
What makes these drinks stand out is their association with celebrities, featuring endorsements and collaborations. With social media driving consumer trends, younger audiences are particularly drawn to these trendy drinks influenced by popular culture.
As a result, beverage companies are focusing on creating drinks that have star power to attract this target market.
Sustainably packaged beverages
Sustainably packaged beverages are a big trend in the beverage industry for 2024. More and more consumers are choosing drinks that come in environmentally friendly packaging. This has led to innovative solutions being developed, like using renewable materials and reducing carbon emissions.
Beverage companies understand the importance of minimizing waste and are making efforts to find green alternatives for their packaging. It’s not just traditional beverages that are being considered – even alcoholic and functional drinks are being packaged sustainably.
Spiked sodas and alcohol-free beverages
Spiked sodas and alcohol-free beverages are gaining popularity as drink trends for 2023. People are looking for alternatives to traditional alcoholic drinks, whether they want a low-alcohol option or prefer to abstain completely.
Spiked sodas offer the fun and flavor of classic soda with a twist of alcohol, while alcohol-free beverages provide refreshing options without the intoxicating effects. This trend aligns with the growing interest in health and wellness, as well as the desire for more diverse beverage choices.
With the market for non-alcoholic drinks projected to grow even further in 2023, spiked sodas and alcohol-free beverages will continue to capture consumers’ attention.
The beauty drinks market is all set to make a splash in 2023. These skincare beverages, also known as nutricosmetics or beauty supplements, are becoming increasingly popular among consumers.
People are looking for ways to enhance their beauty from within, and that’s where these drinks come in. With ingredients like collagen, antioxidants, vitamins, and minerals, beauty drinks claim to provide anti-aging benefits and protection against pollution.
They promise to boost radiance and promote youthful-looking skin. With the global market projected to reach millions of dollars in value by 2023, it’s clear that beauty drinks are here to stay.
Protein water is a type of drink that has become increasingly popular in 2023. It is a nutrient-enhanced water that contains protein, making it a functional beverage for fitness enthusiasts and those looking to support muscle recovery.
Protein-infused beverages, also known as performance drinks or fitness waters, are considered health drinks and wellness beverages.
The market for protein water is expected to grow significantly in the coming years. By 2033, it is projected to reach a value of US$2,634.9 million with an estimated compound annual growth rate (CAGR) of 8.3%.
In 2022 alone, the protein drink market size was valued at US$23.29 billion and is anticipated to continue growing at a CAGR of 8.6% from 2023 to 2029.
Consumers have been gravitating towards protein water due to its perceived benefits for mental wellbeing and immunity. According to the Circana Snacking Survey conducted in 2023, about 35% of consumers consume sports and protein drinks for mental wellbeing while another significant percentage of consumers drink these beverages for immune-boosting properties.
Economic Headwinds Pose Challenge
The food and beverage industry is facing significant challenges due to economic headwinds. The current economic downturn has led to decreased consumer confidence and rising costs, making it harder for businesses to thrive.
Market volatility and reduced purchasing power have also contributed to declining sales in the industry. Inflationary pressures, along with the cost of production, have added to the turbulence faced by companies.
Despite these challenges, some businesses are finding ways to adapt and succeed. It will be crucial for the food and beverage industry to show resilience in navigating these economic headwinds, including inflation and interest rates, in order to stay competitive and maintain growth.
Impact of Coronavirus on Food & Beverage Innovation
The impact of the coronavirus on food and beverage innovation has been significant. The pandemic has forced companies to adapt and find new ways to meet consumer needs in a rapidly changing world.
One key area that has seen major changes is the rise of contactless delivery and online ordering. This shift towards convenience and safety has led to an increased demand for ready-to-eat meals, meal kits, and other packaged food options.
Additionally, there has been a greater focus on health and wellness as people look for products that boost their immune systems or provide added nutritional benefits. Many companies have also had to pivot their production lines to create hand sanitizers or other essential items in response to market demands.
Overall, the coronavirus pandemic has accelerated the food and beverage industry trends, forcing businesses to innovate quickly in order to stay relevant in this challenging time.
5 Food and Beverage industry Trends to Watch in 2024
Get ready for the next generation of plant-based foods, transparent supply chains, sustainable packaging, wellness-focused options, and global flavors. Read on to discover the exciting trends that will shape the food and beverage industry in 2024.
Next-generation plant based
Plant-based eating is on the rise, and it’s not just about salads anymore. In 2024, we can expect to see a surge in next-generation plant-based foods that mimic the taste and texture of meat.
With advancements in culinary techniques and food science, vegan meat alternatives are becoming more convincing than ever before. Instead of relying solely on soy or wheat protein, alternative sources like peas, mushrooms, and even algae are being used to create realistic meat substitutes.
This innovation is catering to the growing demand for plant-based options among consumers who want to reduce their meat intake or follow a flexitarian diet. As more people embrace plant-based eating habits for health and environmental reasons, the market for sustainable food options is set to expand rapidly.
– 40% of consumers plan to purchase plant-based meat products in 2024.
Transparent supply chain
One important trend to watch in the food and beverage industry in 2024 is the focus on a transparent supply chain. This means that companies are making an effort to provide clear information about where their ingredients come from and how their products are made.
Consumers want to know that the food and beverages they consume are sourced ethically, sustainably, and with a minimal impact on the environment. They also value labels that are easy to understand and recognize.
Transparent supply chains support innovative farming technologies and advancements in food production processes, ensuring that consumers have access to quality products while meeting their demand for transparency, sustainability, and ethical practices in their food choices.
Sustainable packaging and sourcing
In 2024, sustainable packaging and sourcing are expected to be important factors in the food and beverage industry. Consumers are becoming more conscious of the environment and they want products that use eco-friendly packaging materials.
This has led to a rise in demand for green packaging solutions, such as biodegradable or recyclable packaging. The goal is to reduce the carbon footprint of the industry by using renewable packaging materials and ethical sourcing practices.
By focusing on sustainable packaging and sourcing, the food and beverage industry can meet consumer demands while also contributing to a healthier planet.
Continued focus on wellness
In 2024, the beverage industry will continue to prioritize health and wellness. People are becoming more mindful of what they consume and are looking for beverages that offer nutritional benefits.
Brands are incorporating functional ingredients like adaptogens and antioxidants to promote wellbeing. Consumers want drinks that are holistic, natural, and organic, providing a balanced and nourishing experience.
The focus on wellness extends beyond just physical health; consumers also seek emotional wellbeing through stress relief and mood-boosting ingredients. With these trends in mind, beverage companies are working towards creating products that align with consumers’ aspirations for a healthier lifestyle.
Global flavors are becoming increasingly popular in the beverage industry as consumers embrace diverse tastes and multicultural influences. With the world becoming more interconnected, people are eager to explore new and exciting flavor combinations from different cuisines around the globe.
While traditional fruit flavors like orange, red apple, and lemon remain popular, there is a growing demand for more exotic fruits and international flavors. This trend is driving innovation in the industry, with beverage companies incorporating unique ingredients and creating fusion drinks that offer a taste of different cultures.
From Thai-inspired coconut drinks to Mexican-inspired spicy beverages, global flavors are adding an exciting twist to the drink trends of 2024.
Some of the latest beverage industry trends for 2024 include increased demand for healthier and functional beverages, sustainability practices, and innovative flavors.
You can stay updated with the latest beverage industry insights by following industry publications, attending trade shows or conferences, and keeping an eye on market research reports.
Plant-based beverages are projected to be a popular choice in 2024 due to their health benefits and environmental sustainability.
To incorporate these industry trends into your own business, consider offering healthier drink options, implementing sustainable packaging, or sourcing practices, and experimenting with unique flavors that align with consumer preferences.
Yes, these trends may impact existing traditional beverages like soda or coffee as consumers become more conscious about their health choices and seek alternative options that align with new industry developments.