Food And Beverage Boutique PR Firm Highlights Key Trends For 2024

This year, health-conscious consumers are inspiring beverage companies to introduce new products, as well as reevaluate their product extensions with creative, wellness-focused products. Consumers crave functional beverages with health benefits, as well as creative flavors to quench their thirst.
 
Did you know . . .
 

• “Revenue in the Beverages Market is projected to reach US$52.9 bn in 2024. Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 10.25 percent resulting in a projected market volume of US$86.31bn by 2029.” (Source:  Statista)
• “At a 7 percent CAGR (compound annual growth rate), the functional beverage market is projected to reach $173.23 billion in 2025,” (Source: ReportLinker)
• A recent report reveals “that 78 percent of global consumers seek out products with natural ingredients, and these generations, especially Millennials and Gen Z are leading the charge. Also, their shopping decisions are greatly influenced by social media, especially viral TikTok videos and Facebook reels.” (Source: FMCG Gurus)

 
Beverage producers are now experimenting with flavors to appeal to palates of diverse consumers who are embracing floral-infused waters or fiery ginger elixirs. In addition, components such as hemp and CBD (without the euphoric effects of THC.)  are finding their way into drinks, providing medicinal benefits and relaxation.
 
In this blog, Allen Marketing Communications, Inc., a boutique PR firm specializing in food and beverages, showcases key beverage trends shaking up the industry.
 
Functional Beverages
 
Functional beverages have become popular with health-conscious consumers: these beverages contain vitamins, minerals, herbs, probiotics, botanical extracts, and other bioactive substances to boost energy and improve health.  Popular functional beverages include kombucha, energy drinks, sports drinks, fortified water, and various ready to drink teas and coffees.

This year, new functional beverages will help to reduce stress and to boost one’s immune system. For instance, probiotic- and prebiotic-enriched beverages are gaining popularity especially among Millennials and Gen Z because they support digestive health and a balanced population of gut flora.

No To Zero Alcohol Beverages

No to zero-alcohol beverages are growing in popularity with health conscious consumers who are embracing mindful drinking. According to IWSR Drinks Market Analysis, “the global market for no-alcohol beverages will grow at a +7 percent CAGR to reach a value of $24.7 billion by 2025.”

​The IWSR's study reveals “only a limited number of companies are serving the low- and no-alcohol sector. For instance, low- and no-alcohol brands account for .5 percent of the US total alcohol market.”
 
Zero Sugary Drinks
 
Health conscious consumers are embracing zero sugar drinks. “The global market for low- and no-calorie beverages will grow to 6.7 percent CAGR from 2023 to 2030, bringing the total projected value to an astounding $340.24 billion.” (Source: Grand View Research)
 
In response, beverage companies are investing more in the creation of low- or zero-sugar beverage options to cater to this demand.
 
Sustainability And Eco-Friendly Packaging
 
Consumers are searching for beverages that are not just healthy but also good for the planet. To meet this demand, beverage companies are investing in environment-friendly sourcing methods, cutting down on packaging waste, and bringing recycled packaging materials such as compostable and biodegradable containers.
 
This year, the beverage business continues to adapt and evolve to meet the ever changing tastes of consumers.  Our food and beverage boutique PR firm can bring creative flavors to the forefront in the lucrative beverage industry. Contact us today.
 
By Joanna Allen, chief executive officer, Allen Marketing Communications, Inc.