The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.
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Learn moreDec 2014
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Beverages have never been a more important part of global foodservice strategy. They maximise appeal among high income and lower income consumers alike, improve profitability for operators through high margins and average checks, and help establish the identity of any restaurant concept. 2014 brought new trends in beverages types and consumer preferences, spanning hot drinks, soft drinks and alcoholic drinks, and offering new opportunities for operators to differentiate themselves.
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Beverages have become central growth drivers, as drinks appeal to consumers at both ends of the income spectrum, and drive consistent traffic throughout the day.
Beverages can serve to “qualify” restaurants to participate in new dayparts. This is particularly apparent during breakfast, when a high quality coffee platform is considered the first step in claiming share in certain markets, but can also be true for alcoholic drinks, with dinner and dessert beverages in the evening.
Drinks also have branding benefits, with the ability to send a message about what kind of dining experience is on offer. Concepts in highly competitive categories, such as burger or chicken fast food, can use a well thought out beverage menu to set themselves apart.
On-trade beverage consumption volumes are down in many categories, but unit prices are rising as global drinking cultures evolve. Consumers are demonstrating a willingness to spend on more premium on-trade beverages that seem worthy of the splurge, including speciality beverages that offer a unique experience, “craft” beverages that offer exciting flavours, and indulgent drinks that add value as relatively low-cost luxuries.
Flavours have been tending towards lighter, more subtle and refreshing profiles, rather than traditional variations on sweet. Some of this is due to health concerns, but it has also stemmed from a need for greater variety and interest when it comes to new flavours and combinations, such as those incorporating unique fruits, herbs and vegetables.
Tea continues to offer a major growth opportunity in both traditional tea-drinking markets and those where tea remains a relative novelty. Iced tea blends, in particular, offer a wealth of possibilities to operators, as consumers appreciate their variety and versatility, and their role as a more exciting water alternative.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.