Drink Asia July August 2019 | Page 14

Market Update By : MANMITA KAMLAPURKAR - Editor at Transparency Market Research B ets are that you will soon find yourself trading your champagne for a refreshing fruit juice, or for an aged non-alcoholic drink. The beverage industry is buzzing with the emergence of several options for teetotallers. A plethora of fruit- flavoured drinks, energy boosting drinks, dairy drinks and other non- alcoholic drinks are surfacing in the global non-alcoholic drinks market. Several studies indicate that booze is losing out to low-alcohol or zero- alcohol beverages. Forbes writes about how anti-wine advertisements are gaining attention to declining beer sales. As a result, prominent brands in the alcoholic beverages section are venturing into non-alcoholic products. For instance, Budweiser is reportedly expanding its line of non-alcoholic drinks and 8 percent of the company’s global beer sales volume comes from low or non-alcoholic drinks. Now, the question is - what all trends are influencing this industry? A study by Transparency Market Research (TMR) identifies a few prominent trends that affect the consumption of non-alcoholic drinks across the globe. It’s not ‘Cool’ to get Drunk Anymore While the millennial generation’s typical night out or weekend soiree is incomplete without alcohol, the next-generation youth exhibits a new behaviour. Generation Z, heavily documenting their lives on social media, are aware that the internet never forgets. This generation is reportedly drinking lower amounts of alcohol than their millennial counterparts when they were between the ages of 18 and 24 years. This generation is hyper-aware of trends such as: veganism; organic products; quality healthcare; and sobriety. Termed as ‘clean lifers’ members of this class are turning their backs on alcohol, or indulging less frequently in activities that could tarnish their online image. While millennials are blamed for the downfall of beer sales over the last few years, the changing ‘coolness’ quotient of the upcoming generation further incites the need for alternative options, boosting opportunities in the non-alcoholic drinks segment. TMR projects the global non-alcoholic drinks market will reach revenue Drink Asia 14 July-August 2019 of $1,937.73 bn by 2020. These numbers speak of non-alcoholic drinks’ popularity, and this trend will continue an upward spiral. Health is Wealth The upcoming generations, blessed with information at a touch, are exposed to sundry anti-alcohol initiatives, empowered by knowledge, and avoidant of undesirable health implications of alcohol. Self-care, healthcare and wellness are placed higher on their priority list than the buzz offered by alcohol. While the millennial were driven by the glamour of intoxication due to the influence of celebrities and pop-groups, the current and upcoming generations aren’t swayed by this. Alcohol is no longer considered to be a prerequisite for being or appearing ‘cool’. This is further emphasised by the growing awareness regarding the health implications of alcohol and alcohol-containing beverages. Veganism is a prominent and rising trend, and being followed by a large number of people globally. TMR’s report attributes the growth of non-alcoholic beverages