Key Takeaways
- Veylinx's 2023 study reveals a 4% increase in demand for non-alcoholic canned cocktails and a 20% surge for alcoholic variants compared to last year.
- Nearly 40% of drinkers are trying to cut back on alcohol, with a significant interest in non-alcoholic options, including a 50% greater preference for non-alcoholic canned cocktails.
- Younger demographics (21-35 years) show more interest in non-alcoholic alternatives, particularly CBD-enhanced cocktails.
- Despite a decrease in the percentage of people trying to reduce alcohol consumption, demand for non-alcoholic alternatives continues to grow.
- Functional benefits like mood boosters and detoxifiers in non-alcoholic cocktails are losing appeal, with CBD variants remaining popular.
Consumer Trends in Canned Cocktails
The year 2023 has marked a significant year for the canned cocktail market. A recent study by Veylinx, a leading behavioral research platform, sheds light on the dynamic shifts in consumer preferences regarding alcoholic and non-alcoholic canned cocktails.
Utilizing a unique methodology that focuses on actual consumer demand rather than mere intent, Veylinx's findings offer a revealing glimpse into the current trends and future directions of this burgeoning sector.
As consumers increasingly seek convenience without compromising on taste or health consciousness, the study reveals intriguing insights into the factors driving the rising popularity of canned cocktails among diverse demographics.
Shifting Demographics and Preferences
The Veylinx study indicates a notable shift in consumer behavior, particularly among younger drinkers.
Those aged 21-35 are more inclined to reduce alcohol intake, favoring non-alcoholic cocktails, especially CBD-enhanced versions. This trend reflects a broader health-conscious movement among younger consumers.
Decline in Alcohol Reduction Efforts
Although there is a significant interest in non-alcoholic alternatives, the study shows an 18% decline in the number of people attempting to reduce alcohol consumption.
This paradox suggests a complex relationship between consumer intentions and market trends.
Non-Alcoholic Alternatives Gaining Ground
The study highlights a steady growth in the market for non-alcoholic cocktails. This trend is accelerated by improvements in flavor and pricing, overcoming previous barriers to consumer adoption.
he Role of Functional Benefits
Consumer interest in added functional benefits in non-alcoholic cocktails seems to be waning, except for CBD enhancements. This could indicate a shift towards simpler, more authentic alternatives in the non-alcoholic beverage market.
Price and Flavor as Key Factors
Flavor options and pricing emerge as crucial determinants in consumer choice, reflecting the importance of sensory appeal and affordability in the beverage sector.
Impact of Public Health Measures
The study shows 44% of participants support a 10% alcohol tax as a public health initiative. This finding underscores the growing public awareness of alcohol-related health issues.
What We Think
The increased demand for both alcoholic and non-alcoholic canned cocktails shows a dynamic shift in consumer preferences, driven by health consciousness and a desire for convenience. The growing interest among younger consumers in non-alcoholic options, particularly CBD-enhanced cocktails, indicates a significant market opportunity for innovation and product development in this segment.
However, the decline in efforts to reduce alcohol consumption, coupled with the increased demand for alcoholic canned cocktails, suggests a nuanced consumer behavior that industry players need to understand. Brands should focus on balancing flavor, health benefits, and affordability to cater to the diverse needs of their target audience.
The canned cocktail market is at a pivotal point, with ample opportunities for growth and innovation. Companies that can effectively leverage consumer insights and adapt to these changing preferences will be well-positioned to succeed in this evolving market.
[Image by Veylinx via PR Newswire]