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Beverage Expo|Packaged Beverage trends and opportunities

2024.09.25

In the first half of 2024, with the continuous recovery of the national economy, the beverage market has become a consumption hot spot in the FMCG industry. In view of the main status quo and development opportunities of China's Beverage market in the first half of 2024, at the Beverage Expo, relevant experts shared the four trends of the future development of the packaged beverage industry, helping beverage enterprises to cross the cycle and seize more share in the highly competitive market environment.

 

Beverage industry leads the consumption wave, omni-channel strategy has become a must

 

In the first half of 2024, China's GDP grew by 5%, and retail sales of consumer goods totaled 23.596.9 billion yuan, up 3.7% year on year. The national economy was generally stable and made progress. At the same time, consumers' attention to the concept of health continues to rise, and "health" ranks first in influencing consumers' product choices. 38% of consumers say that maintaining and improving their health status is the most influential factor on their life status.

 

 

Significant reshaping of category structure

 

In 2023, ready-to-drink tea will surpass carbonated drinks and become the largest segment of packaged drinks. As of June 24, ready-drink tea still maintains a very high growth rate, ranking first in the growth rate of all packaged beverage segments (19.5%), and ranking first in the volume of all beverage segments. Energy drinks, fruit juices, ready-to-drink coffee all continued their good growth since 23 years.

 

Extending specifications in response to consumption and scenario differentiation

 

With the increasing attention of consumers to cost performance, beverage specification segment has become the key point for consumers to measure cost performance in addition to channel price comparison. From 2019 to 2023, packaging specifications in the beverage industry will also undergo huge changes. The 601-1249ml free-drink bottle has the fastest growth, with sales importance increasing from 6.4% in 19 to 11.3% in 23, fully reflecting consumers' pursuit of cost performance.

 

Channel is the core of survival and development

 

By May 2024, the growth rate of beverage omni-channel was 7.5% year on year. Convenience stores (8%) and grocery stores (8.4%) in offline near-field small businesses both grew rapidly. Traditional e-commerce (12.9%) and interest e-commerce (19.6%) in online channels also maintained a good momentum of growth.

 

In the future, the beverage category still has a broad space for sales expansion under the background of offline urban structure upgrading. The current consumption delay is not limited by the consumption power of offline cities, but the process and time needed to expand the product distribution network from the central city to the outer circle.

 

 

Conclusion

 

At present, China has become one of the world's largest soft drink consumption markets. Under the background of consumption upgrading, the emergence of new groups and new scenes will bring more development opportunities for the beverage industry. For beverage manufacturers, in the case of seeking innovation and constantly bringing out the new, how to improve operational efficiency, create classic single products, and constantly expand the sinking market are also the key points for them to seize market share.

 

If you want to know more about the food industry, please visit the SIAL in South China(Shenzhen) website for more information.

 

Source: New Consumption of wine and food

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