New research from the IWSR has suggested that the movement of a wider health and wellness trend is gaining traction across the world, providing new opportunities for the global beverage alcohol industry.
The research comes just as Dry January ends, and has suggested that this trend has opened up the opportunity for drinks makers to develop new products.
“The ‘Dry January’ movement isn’t new, but one of the reasons we’ve heard so much more about it this year is the broader trend that points to consumers’ increased interest in physical and mental health. And that’s creating an interesting shift in consumer preference for low- and no-alcohol beverages, outside of soft drinks,” said Mark Meek, the IWSR’s CEO.
“For leading producers of beverage alcohol, this obviously presents considerable opportunity to develop new products, claim their share of the category and ultimately grow revenue.”
The IWSR Global Opportunities in Low- and No-Alcohol report examines market sizing by volume, key players in the industry, on-trade analysis, product innovation, and important consumer trends.
According to the report, the low- and no-alcohol sector is poorly served, and the marketplace is small in most parts of the world.
The UK’s low- and no-alcohol beverages, for example, only represents 1.3% of the country’s total alcohol beverage market.
However, the market is expected to grow significantly in the future, as consumers are actively looking to reduce their alcohol consumption, ‘if they can find products that meet their taste expectations’.
According to the report, 65% of the heaviest UK alcohol consumers (25-34-year-olds) are trying, or have tried, to cut back on their alcohol intake. It added that 61% of consumers have said they have not considered drinking low-/no-alcohol products.
The report found that the off-trade channel offers significantly more selection of low- and no-alcohol products than bars and restaurants.
It added that, while most establishments offered non-alcohol beer, other alternatives, such as non-alcoholic wine, were notably absent.
© 2019 Checkout – your source for the latest Irish retail news. Article by Aidan O’Sullivan. Click subscribe to sign up for the Checkout print edition.