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Identifying new opportunities in the Soft and Hot Drink markets and responding to evolving consumer need states

  • May 2014
  • 93 pages
  • GlobalData
Report ID: 2114772

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Summary

“Identifying new opportunities in the Soft and Hot Drink markets and responding to evolving consumer need states” provides detailed insight into new opportunities in Soft Drinks and Hot Drinks in both developing and developed countries. The evolution of consumption habits across the world means both retailers and manufacturers need a renewed understanding of consumer’s changing lifestyles, and how this will affect their product choices. To do this, the report highlights innovative new product development for effectively targeting consumers’ most important needs, and offers strategic recommendations to capitalize on the evolving motivations driving consumption.

Key Findings

• Manufacturers need to target specific health needs, as busy consumers want more than just “better for you” products
• Busy consumers will look for products designed for specific occasions such as recovery, relaxation, satiety, and energy boosts
• Even as they target emerging trends such as health, convenience and trust, manufacturers must ensure that their drinks are, above all else, tasty
• Manufacturers need to invest in natural sweeteners and simplify formulas to overcome growing consumer concern with ingredients
• Key consumers of both Soft Drinks and Hot Drinks, in both Developed Economies and Emerging Economies, are surprisingly old

Synopsis

“Identifying new opportunities in the Soft and Hot Drink markets and responding to evolving consumer need states” shows how consumer behavior is evolving rapidly and this will open up new opportunities in both Soft Drinks and Hot Drinks markets. This includes a more holistic understanding of health and the role drinks can play in meeting these needs, the continuing influence consumers’ busy lives has in changing consumption habits, the ongoing key role taste will play in consumer choices, and the changing consumer perceptions towards sugar and artificial sweeteners.

In particular, this report includes:

• Identification of the key consumer demographic groups driving consumption of Soft Drinks and Hot Drinks in three regions based on demographic profiles: Developed Economies (France, Germany, Italy, Spain, the UK and the US), Older Emerging Economies (China and Russia) and Younger Emerging Economies (Brazil and India). The figures show the number of Soft Drink and Hot Drink occasions attributed to specific age groups, as well as identifying the key motivations driving consumption in each of these regions.
• In addition the report identifies whether these demographic groups "over" consume in Soft Drinks and Hot Drinks (i.e. they account for a higher proportion of occasions than the proportion of society they represent overall)
• Demographic group breakdowns are provided for infrequent consumers of Soft Drinks and Hot Drinks: increasing how often these “light frequency” consumers drink beverages would create almost 400 brillion new drinking occasions
• The evolution of consumer need states will create opportunities for marketers in four areas: health, occasion targeting, indulgence and ingredient safety. The report explores the consumer behavior underpinning these trends, highlights innovative product development driven by these evolving consumer needs, and provides actionable insights for marketers to better position their products to meet these trends.

Reasons To Buy

• This report provides actionable insight into new opportunities emerging in Soft Drinks and Hot Drinks markets by bringing together consumer analysis and case studies.
• This is based on Canadean’s unique consumer data, developed from extensive consumption surveys and consumer group tracking, which quantifies the influence of 20 consumption motivations in 10 Soft and Hot Drinks categories.
• Understanding these trends, and how the most innovative marketers are seeking to target them, will allow marketing tactics and strategy to be updated in line with the very latest consumer behaviors.

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Related Market Segments :

Beverage
Soft Drink

ref:plp2014

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