The global alcoholic beverages market has witnessed impressive growth over the last couple of years driven by a number of favorable factors. Growing urban population coupled with rising disposable incomes in emerging economies is leading individuals to explore new forms of entertainment such as night parties and spending time at bars, lounges. Further, young adults with high family incomes, high social media influence, and easy access to alcoholic drinks are other prominent factors driving sales of alcoholic drinks. In urban areas, high pressure jobs and the perception that consumption of alcohol is relaxing to the mind is leading to the increased consumption of alcoholic drinks.
How Newer Ready-to-Drink Beverages and Packages are Shaking Up the Adult Beverage Market
Alcoholic Beverages Market Size and Share | Industry Analysis,
To be a consumer today is a glorious thing. Innovation is everywhere and the abundance of choice has never been so plentiful. And looking across consumer packaged goods CPG categories, few could be considered as jam-packed with competition as the adult beverage category. While price is likely the most well-established purchase driver across the CPG space, convenience often runs a close second.
Five Marketing Lessons For Brands In The Adult Beverage Category
Millennials are the youngest legal drinkers in the United States and are not shy about sharing their alcoholic preferences. In order to better understand US adult drinkers, we created five distinct orbits based on research conducted by Consumer Orbit, an analytics and media-planning agency based out of Kansas City. Below is a detailed outline of five lessons we have learned from millennial inspired trends that are impacting the adult beverage category:. Millennials are often viewed as an impulsive generation.
Report scope can be customized per your requirements. Click here. Millennials consumers, particularly are running premium alcoholic beverage market. Product innovation and economic growth are drawing the consumers to go for expensive alcoholic beverages.