Introduction
The beverage industry is constantly evolving, and new trends appear every year. This industry is constantly adapting depending on consumer preferences by offering a variety of alcoholic and non-alcoholic drinks. Moreover, this category of goods is developing globally and locally under various social trends. Therefore, this paper aims to analyze global and local trends in the development of the beverage industry.
Identifying the Trend with the Greatest Growth Potential
Beverage trends can significantly impact the food industry and other businesses. Functional water may impact restaurants, health food brands, and fitness centers that may offer the drink as an additional health product to their customers. In addition, organic drinks described among the 2022 trends may affect organic food production in general (Distillery Trail, 2021). The popularity of this type of drink allows the agricultural industry to develop in new directions, satisfying consumer needs. Another significant trend is the increase in coffee sales and various tea types (Distillery Trail, 2021). These trends may affect cafes offering drinks to go, restaurants, and various spa centers that may provide herbal teas to visitors.
Additionally, cocktails have significantly increased in popularity as a trend (Distillery Trail, 2021). This trend affects alcoholic beverage producers, bars, and restaurants, forcing them to tailor their drinks to suit their customers’ needs. Moreover, the increasing popularity of cocktails is helping the soft drink industry evolve to meet the expectations of a wider audience.
Rationale for the Chosen Trend’s Market Viability
The rise in popularity of mocktails had the most impact on me as a consumer. I like to dine out or meet with friends in various establishments, but I wouldn’t say I like to drink alcohol often. At the same time, mocktails provide an opportunity to enjoy the exciting taste of a drink without alcohol intoxication. From a business development perspective, growing organic beverage sales is the biggest opportunity. More and more people are paying attention to their health and eating habits. Therefore, creating organic drinks meets the target audience’s specific needs and can be a profitable investment. Businesses can use various strategies to turn trends into more targeted products. For example, you can collaborate with local firms to source ingredients to develop organic drinks. In addition, the company can participate in various educational and health events to inform the audience about the benefits of organic beverages.
Review of the Local Businesses
Among local businesses, the most popular in the beverage sector are Whole Foods, Seven Stars Bakery, and Bayberry Garden. Whole Foods is a grocery store visited primarily for organic and natural products. They offer water, soda, juices, coffee, tea, and functional health beverages (Beverages, n.d.). Since the store offers organic products, prices may be slightly higher. Whole Foods’ target audience is people who care about their health and the environment, so the company focuses on healthy alternatives to traditional drinks.
Seven Stars Bakery offers visitors an extensive selection of coffee and tea (Coffee & more, n.d.). Prices depend on the drink chosen and range from medium to high due to specialty coffee. The bakery is aimed at people who value the taste characteristics and high quality of coffee. The Bayberry Garden restaurant’s drinks menu focuses on a wide selection of wines and cocktails (Drinks, n.d.). Foremost, the restaurant is aimed at connoisseurs of wine and cocktails, including non-alcoholic ones.
Implementing the Trend in the Local Businesses
To implement the trend for organic drinks in local businesses, it is necessary to use different approaches, depending on the company. For example, Whole Foods already sells organic drinks, so expanding the range by offering customers new products is essential. Seven Stars Bakery can use this trend to develop a new organic coffee and tea line from local farmers. Finally, Bayberry Garden can use this trend to expand the wine list and add organic wines from local producers.
Conclusion
In conclusion, the beverage industry is actively developing both at the global and local levels. Emerging trends in this area provide opportunities for business development and meeting consumer needs. One such promising trend is the growing popularity of organic drinks, driven by people’s increased concern for their health and the environment. Moreover, local businesses can adopt these trends to expand their product range and attract customers.
References
Beverages. (n.d.). Whole Foods Market. Web.
Coffee & more. (n.d.). Seven Stars Bakery. Web.
Distillery Trail. (2021). 2022 top 5 beverage industry trends infographic. Web.
Drinks. (n.d.). Bayberry Garden. Web.
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