Expected growth for beverages despite ‘seismic’ shift

    Businesses and industries of all shapes and sizes have been affected by the COVID-19 pandemic to some degree over the past few months. The beverages category has been no exception.

    According to Australian Beverages Council CEO Geoff Parker, COVID-19 has caused a “seismic” shift in the way in which the council’s manufacturing members and suppliers interact to ensure convenience stores and supermarket shelves remain as well stocked as possible.

    “One of the most notable aspects of COVID-19 for the drinks industry has been the speed of adaptation,” he says.

    “The industry is known for its innovation in new product development, branding and marketing, but few could have prepared for the disruptive change of the last few months.

    “By moving quickly and supporting the industry in a range of government fora, the Australian Beverages Council has supported continuity of supply and ensured governments have received timely and accurate information from the drinks industry.

    “For many industries, there will be a pre-coronavirus and post-coronavirus chapter in their history, and the drinks industry will be no different. It has strengthened preparedness planning, sharpened the focus of commercial strategy and demonstrated how industry associations can demonstrate real value in times of crisis.”

    Looking forward

    As the effects of the coronavirus pandemic are managed in the months ahead, Mr Parker says it’s anticipated that growth and greater stability in beverages will return.

    “Ongoing branding and marketing initiatives and product innovation are expected to continue to buoy industry revenue growth in the coming 12 months, supported by dynamic innovation in the broader drinks industry,” he says.

    “New product development continues to drive revenue growth and supports loyal and new consumers across the industry, with product segments, such as energy, probiotic and sports drinks, leading the charge. While these new products complement other established drinks, energy drinks have enjoyed growth as an alternative to coffee or tea to match increasingly busy lifestyles.”

    Read about the latest beverage innovation in the May/June issue of Convenience World.

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