No one can perfectly predict the future, but the analysts at Euromonitor International can get mighty close.
Speaking at BevNET Live Summer 2018 in New York City, Howard Telford, head of soft drinks research at the market research firm, examined how beverage trends will develop over the next five years, pinpointing several of the top growth areas in the space.
The beverage space overall is fundamentally strong, Telford said, experiencing 14 percent growth since 2012 to become a $450 billion industry. Over the last 15 years consumer behavior has evolved, with wine and spirits, bottled water, and ready-to-drink tea experiencing some of the largest growth as consumers seek better-for-you options. As beverage sales continue to climb, Telford discussed how coffee, kombucha, and milk alternatives will play increasingly bigger roles in the market heading towards the early 2020s.
“These are categories making that leap outside of the nucleus of natural and specialty into mainstream channels,” Telford said.
For more on Telford’s insights and forecasts, watch the whole video above.