A combination of an occasion-driven mindset and an appetite for emerging flavors has fueled consumer engagement and business growth for the beverage category. As new demand areas arise (premium, functional, ready-to-drink, no-to-low alcohol etc.), many beverage portfolios are looking for ways to defend their core, while also supporting new brand launches.
Beverage brands will likely continue to focus on portfolio diversification and innovation as a means of future-proofing their businesses against evolving consumer preferences and mindsets. .
For more information, please contact Caitlin Collins.
U.S. spirits sales achieved 42% of market share in 2022, surpassing beer as the market share leader for the first time since 2000
70+ New no-to-low alcohol products were introduced to the market in the last year
CSD revenue is projected to increase by +10% YoY by the end of 2023 to $149.6B
