The surge in consumer expenditure on health foods is one of the prominent drivers for superfood infused beverages market. To meet the increasing demand for value added foods and beverages, the manufacturers have been introducing innovative ways of adding nutrition to their present offerings. The companies are focusing on their product offering for the millennials owing to their growing health consciousness and purchasing power. Non-alcoholic beverages represent the larger demand share of superfood infused drinks as compared to the alcoholic beverages, though the manufacturers are also aligning their production to increase production for non-alcoholic superfood infused beverages.
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Cannabis Infused Drinks to Bolster the Demand for Superfood Infused Beverages
The legalization of cannabis in multiple countries has led to an increase in the consumption of cannabis. Some of the recent additions to the cannabis market are the cannabis infused drinks. According to the claims of cannabis infused drink producers, the cannabis and hemp are also considered as superfood and cannabis infused drinks can also be showcased as superfood infused beverages. This classification will determine the paradigm shift in the superfood infused beverages market with the market being significantly amplified by this addition. The classification will also affect the viewpoint of the consumers regarding cannabis. The possibility of lowering of the stigma involved with the usage of cannabis, will also benefit the superfood infused beverages market. The acceptance of the older demographic is one of the concerns involved with the superfood infused beverages involving cannabis.
Demand of Superfood Infused Drinks to Get a Boost among Alcoholic Beverages
Superfood infused beverages can be distinguished by beverage type, flavor and claim of the company. In terms of beverage type, there are two main variants in the superfood infused drinks, i.e. alcoholic and non-alcoholic. The non-alcoholic superfood infused beverages are further divided into infused water, juice, flavored milk, and ice-tea among others. Superfood Infused beverages made from fruits, like juices and smoothies are the most popular currently pertaining to the maximum health benefits availed from them by the consumers. Alcoholic superfood infused beverages shall foreseeably show a rise in demand in the upcoming decade.
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Superfood infused beverages are plain and flavored in terms of flavor. The flavored superfood infused beverages holds a lion’s share in the market and is expected to remain the larger revenue generator. Based on the claim of the companies, superfood infused beverages can be classified in organic, vegan, Non-GMO and Paleo friendly.
Superfood infused beverages are available through multiple distribution channels, such as online retail, specialty stores, and supermarkets/hypermarkets, among others. Currently online and supermarkets/hypermarkets holds the highest share in the market, while sales through online sales are is also expected to increase. The consumers have shown preference towards online retail for purchasing superfood infused beverages during the past half-decade and is projected to continue doing so due to increasing convenience in this channel.
Health-Conscious Millennials, the Key Target of the Superfood Infused Beverage Companies
The companies in the superfood infused beverages market are mainly working on increasing their market penetration through multiple means. One of the largest target audience for the superfood infused beverages are the millennials. As against the prevalent opinion of the high alcohol consumption of the millennials in the developed countries, they have shown lower alcohol consumption than the previous generations. The manufacturers are positioning their superfood infused beverages to the millennials in terms of added benefits as well as brand communication.
Superfood infused beverages market is highly fragmented owing to the presence of multiple SMEs. Some of the key players in the superfood infused beverages market are DRGN, Bai, Herbal Clean, BluePrint Organic, Sui Generis Spirits, LLC., VONGE, LLC., and LEMONKIND, among others.
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