Consumer Spending on Upscale Ready-to-Drink Items Driving Growth in the $14.7 Billion Premium Beverage and Confectionery Market
Thanks to explosive growth among ready-to-drink products and bottled water, beverages now control three-fourths of the $14.7 billion premium beverage and confectionery market, according to The U. S. Market for Gourmet Beverages and Confectionery, the first volume in a new gourmet foods series from Packaged Facts, available at MarketResearch. com.
(PRWEB) July 28, 2003
New York, July 28 – Thanks to explosive growth among ready-to-drink products and bottled water, beverages now control three-fourths of the $14.7 billion premium beverage and confectionery market, according to The U. S. Market for Gourmet Beverages and Confectionery, the first volume in a new gourmet foods series from Packaged Facts, available at MarketResearch. com.
Faced with slow growth in carbonated soft drinks, major players like Coca-Cola, PepsiCo and Cadbury Schweppes are buying into the trendy end of the beverage business. Alliances with foodservice market leaders such as Starbucks to market packaged products are one method these companies are using to grab gourmet market share. Another is through the acquisition of smaller, niche companies that produce New Age drinks, which often are promoted as being fortified with herbal ingredients to enhance well-being and energy. Promoting a healthy image continues to be an easy sell in this market.
“In a slow economy, people are reluctant to or unwilling to purchase big-ticket items,” said Don Montuori, Acquisitions Editor for Packaged Facts. “But what’s driving – and in fact saving – the gourmet beverage market is the attitude among consumers that spending a dollar or two more on an upscale drink is a luxury they can afford. And if that drink is also positioned as a having a health benefit, all the better.”
The U. S. Market for Gourmet Beverages and Confectionery presents up-to-date competitive profiles, demographic breakouts, marketing opportunities and more. Expert analysis is presented in a concise and readable format, with forecasts to 2007.
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