State of the Industry 2017: Flavor, functionality drive growth in refrigerated beverages
When it comes to making healthier choices, a majority of today’s grocery shoppers identified the fresh, clean and sustainable benefits of refrigerated beverages among their top purchase priorities.
The beverage segment is undergoing re-invention, so says research from Chicago-based Technomic. Some of the influences at play include:
- The perception of health has become a paramount driver of success.
- Smoothies and teas are poised for growth, much as specialty coffee was two decades ago.
- Beverages will continue to experience sales gains.
- Exotic-scented and flavored teas are gaining favor.
The flavor forecast for 2017 is shaping up to be all about seeking healthy and clean, but also exploring a bit of the exotic, according to a team of flavor experts from Flavorman, Louisville, Ky. Spicy and herbal accent flavors make traditional products like ready-to-drink coffee more interesting and unique. And, flavors like coconut and turmeric, both known for their healthy attributes, can be found in teas and juices.
When it comes to making healthier choices, a majority of today’s grocery shoppers identified the fresh, clean and sustainable benefits of refrigerated beverages among their top purchase priorities. That’s why changing demographics and purchasing behaviors make it crucial for beverage industry leaders to understand and capitalize on key consumer insights, according to an EcoFocus Trend Study, presented by EcoFocus Worldwide, Memphis, Tenn., on behalf of Evergreen Packaging, Memphis, Tenn. Insights from the research call out four trends—Millennials’ impact on food and beverage priorities, the importance of clean packaging, the power of leveraging fresh and clean attributes to position healthy products and the growing popularity of functional beverages.
HPP’s role in beverage growth
A new survey of Americans currently employed in the refrigerated and frozen food industry indicates strong appreciation for the role high-pressure processing (HPP) plays in producing safe foods with cleaner labels and longer shelf lives. The online industry survey, commissioned by Universal Pasteurization Co. LLC, Lincoln, Neb., shows that more than half of the survey respondents (59%) were familiar with HPP, and 57% characterized their companies’ use of the technology as some, growing or substantial. Almost no one indicated any level of dissatisfaction with HPP within their organizations, and survey takers also believed their retail and foodservice customers were usually favorably disposed to HPP, but often unaware if or when it was being utilized.
That’s why the market for HPP equipment is projected to reach $500.3 million by 2022, at a CAGR of 11.26% from 2016, according to “High Pressure Processing Equipment Market by Orientation Type (Horizontal and Vertical), Vessel Volume, Application (Fruits & Vegetables, Meat, Juice & Beverages, Seafood), End User Category, and Region - Global Forecast to 2022,” a report published by MarketsandMarkets, New York.
To learn more about these and other beverage trends and charts, go to http://bit.ly/2qkpeuU.