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The Evolving Beverage Industry
By 2026, Gen Z and Millennials, will make up the largest consumer group in the US, at 46%. These consumers are well-informed and passionate about sustainability and eco-friendly products, and want to align with brands and companies who are innovating to make positive, impactful changes within their industry.
Since the outbreak of Covid-19, 64% of consumers in general are more focused on their health and 54% of people are willing to spend more on beverages and products that improve their overall wellbeing. Additionally, 50% of consumers are now actively seeking alternatives to alcohol, generating increased demand for reduced or alcohol-free drinks.