Technomic study reveals beverage category performance shifts

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May 10, 2023, 08:15 ET

New report uncovers changes in beverage sales and consumer behaviors

CHICAGO, May 10, 2023 /PRNewswire/ -- Technomic just released a comprehensive deep dive into how the environment and rapidly evolving economic conditions have changed, and will continue to impact, the foodservice beverage category from size and growth to attitude and behavior perspectives. This report is a key deliverable of Away-From-Home Beverage Navigator, a program that offers ongoing intelligence and advisory support across more than 10 segments and 20 beverage categories.

"The beverage category as a whole is on the rebound with consumer spending increasing by 13.9% in 2022, outpacing overall industry growth," said David Henkes, senior principal and head of strategic partnerships. "While beverages are a key opportunity for driving profitability, operators need awareness into how the market is evolving, as well as the scope and magnitude of these changes."

Key findings include:

Overall sales growth of cold beverages outpaced hot beverage growth in 2022, with cold beverage sales growing at a rate of nearly 15% and volume growing at 6.9%
Hot beverage sales were $70 billion and just short of 2019 levels
Nearly three-fourths of operators report that there is increasing interest from customers for better-for-you beverage offerings
44% of consumers say they always add a beverage when dining in, compared to only 28% who say the same for carryout/drive-thru

Since 2005, Technomic has provided ongoing insights on the away-from home beverage marketplace. Get access to beverage intel: https://www.technomic.com/away-home-beverage

Contacts:

Press and program inquiries: David Henkes, [email protected]

Purchasing details: Patrick Noone, [email protected]

About Technomic
Technomic Inc., a Winsight company, was founded as a management consulting firm in 1966. Since then, Technomic's services have grown to encompass cloud-based B2B research tools, consumer and menu trend tracking and other leading strategic research and analytic capabilities, to prioritize and size business opportunities. Our clients include food manufacturers and distributors, restaurants, retailers and multiple other business verticals aligned with the food industry that are looking to make informed decisions to support their business growth. Visit Technomic at www.technomic.com.

About Winsight
Winsight LLC is a business-to-business information company serving the restaurant and noncommercial foodservice, convenience and petroleum retailing and grocery industries. Winsight provides research and analytics, branding solutions, face-to-face opportunities, lead generation initiatives, and content marketing services through products including subscription data products, reports, research tools, research programs, fully custom studies, conferences, custom marketing services, meetings, print and digital trade media. To learn more, visit winsightmedia.com

SOURCE Technomic