Monday, April 2, 2012

The Beverage Industry Essay

The Beverage Industry Essay

The beverage industry is one of the most extensive global market sectors. Drinks present an ultimate product to be ingested regularly and in significant scopes due to the constant demand. Therefore, beverage industry is developing speedily, offering a wide variety of products every year. The situation in the global industry of beverages can be described through analysis of beverage industry of the United States of America, which is one of the leading producers of drinks.

Although beverage industry technically existed for centuries (soda water appeared three hundred years ago), it received its modern appearance only about fifty years ago, when first plastic and aluminum cans were introduced. The second half of twentieth century became a starting point for growing variety of beverages, thus, the industry is in rather mature phase recently.

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Nowadays, every American citizen consumes 192 gallons of diverse drinks every year (according to Beverage Marketing Association), which means that U.S. ingests almost 220 million tones of liquid yearly. The assortment of beverages is very wide. Still modern trends in the industry focus on production of new categories of wellness drinks, healthy and natural, as well as energy drinks and premium-quality beverages. Besides, the consumer preferences alter periodically; for instance the demand for tea has risen in the “coffee” regions, hence manufacturers tend to offer bigger choice of tea drinks.

The customer profile of beverage industry is very extensive, as drinks are consumed by all consumer categories (Americans spend around $ 100 billion yearly on drinks). Every citizen ingests liquid; hence the average beverage customer profile may be presented by average American citizen profile – 38 years old person graduated from high school or college, with $45,000 - $70,000 annual income. The most popular drinks for American customers consume are soft carbonated drinks (almost 30% of all drinks consumed). Other beverage categories include beer, water, milk, juice, coffee and tea, sports drinks, and wine.

The major problems and obstacles that the beverage industry faces recently are connected mostly with health concern. The importance of balanced diet products (especially for children) in order to reduce usage of full-calorie drinks is one of the most relevant issues within the industry. Another important aspect is focusing on healthier wellness ingredients in drinks. Besides, the industry addresses the problem of minimizing harmful impact on environment. These issues are addressed seriously; and implementing new technologies, studies, and scientific research in this area bring more opportunities for the beverage industry.

Being an important segment of the United States’ economy, beverage industry market in the country totals over 14 billion cases annually. The great number of beverage companies provide numerous jobs and pay over 30 billion taxes yearly. Innovative strategies and new products of the industry’s major producers provide this area with the highest positions on the market. Still the researches promise a consistent growth in this sector, due to multiple reasons - increasing competition both from manufacturers and soft and hot drinks categories, rising need of hydration, diverse consumers’ demand. Besides, consumers’ constantly changing preferences enforce the market to evolve, offering more and more soft drinks every year. Therefore, beverage industry is a highly dynamic branch that takes a significant position onto the global market.
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