Beverage Industry Analysis
The global beverage industry is estimated to reach $1.9 trillion by 2021. The major drivers for the maturity of this market are growing urbanization and high disposable income. Moreover, the emerging trends which have a direct impact on the dynamics of the industry include the use of natural flavors and sweeteners to meet consumers’ health concerns and increased interest in exotic drinks. However, there are a few significant factors that are expected to impact the growth prospects of the beverage industry in the coming years. These factors include:
Developing an online presence – While most businesses are moving online to reach a wider range of customers, the beverage industry is still trying to carve out its unique stance.[spacer height=”5px”]
Rising competition – With the strong competition in the beverage industry, many leading players have started offering a distinguished set of products. To remain competitive and stay relevant in the marketplace, leading organizations must offer products based on the tastes and preferences of the consumers, which can only be achieved through comprehensive market research.
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How Market Research Benefits Players in the Beverage Industry?
A market research report analyzes industry-specific data to offer detailed insights into the market opportunities, competition, and other similar factors to help companies better understand the market landscape. In today’s competitive business scenario, players in the beverage industry need to improvise their strategies and business plans to stay relevant in a rapidly evolving marketplace.
Why Infiniti’s Market Research Solutions?
Established in 2003, Infiniti Research is a leading market intelligence firm with proven capabilities to deliver market research reports and actionable granular insights on a wide range of industries. With over 15 years of experience in offering strategic market information, we’ve carved out a niche for ourselves in the field of market research and custom market intelligence.
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About the Client
The client is a well-known company in the beverage market and a renowned manufacturer and supplier of alcoholic drinks to large conglomerates.
Predicaments Faced
To understand customer behavior and ongoing trends, the client, an international beverage manufacturer, approached Infiniti to engage in a market research study. The beverage manufacturers wanted to study the market landscape to maximize profits by effectively tapping into the prevailing market opportunities. However, their primary purpose was to employ a systematic approach to understand market dynamics – competitors, strengths, weaknesses, and key trends.
Solutions Delivered
Infiniti’s market research report helped the beverage manufacturer to understand customers’ needs and critical market trends. The market research report offered valuable insights into decision-making procedures, current market trends and challenges, and barriers. In addition, the market research report helped identify potential problems and uncovered several areas for improvement. The beverage industry client also gained insights into existing market trends, which helped identify newer trends and align them with customers’ preferences.
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