Innovation
continues to be the order of the day and sports/energy
drinks, bottled water and carbonated soft drinks
continue to lead new product introductions in the
beverage industry. Innovation is more than just flavor
extensions. Consumers are looking for drinks that
are healthier, functional and fun and beverage companies
can achieve this by either adding positive ingredients
or taking out negative ones. “But beverage
companies must be careful because the new products
graveyard is littered with brands that didn’t
realize that they couldn’t sacrifice taste.
Taste is important,” says Brian O’Byrne,
Chief Executive Officer, INOV8 Beverage Company.
The
shift toward healthier lifestyles continues to drive
the industry.
“There’s
no doubt that advances in pharmacology, nutrition
and technology will bring the category of healthy
beverages to a whole new place,” noted Robert
Davino, vice president, marketing, Nestlé Waters
North America. Over the years, the beverage industry
has seen a steady, consistent consumer migration
away from other beverages to bottled water. “Per
cap consumption of bottled water sits at half of
that of soft drinks, with 550 million gallons consumed
this year alone. At that rate, we can expect bottled
water to overtake soft drinks in about 10 years for
the number one spot,” Davino said.
Beverage
innovations in the US in the future are expected
to include bottled water enhanced with immune-boosting
ingredients like magnesium, calcium and plant sterols,
pre- and probiotic drinks and functional products
geared toward kids’ health.
