Albany, New York, January 3, 2018: A new research report offering insights on buying behavior and consumer patterns related to non-alcoholic beverages has been added to the vast repository of Market Research Hub (MRH). According to the report titled “BLACK CONSUMERS AND NON-ALCOHOLIC BEVERAGES - US - DECEMBER 2017”, spending on non-alcoholic drinks by black consumers is likely to witness a growth of 2.3% in 2017 over 2016, and reach nearly US$ 11 Bn in revenues. Although consumption of carbonated drinks remains high, demand is also increasing for healthy drinks that come in different flavors. The natural and organic trend is also gaining momentum among black consumers, according to the report.
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As is the case elsewhere, healthier drink options remain a cause of concern for all black consumers. The key influencing factors that are driving and impeding the growth of the non-alcoholic beverages market among black consumers have also been discussed in detail in the report. Leading players operating in the market can benefit from introducing healthier variants in supermarkets where black consumers frequently visit.
According to the report, the sales of bottled water continues to remain high among black consumers. Sales of carbonated drinks, although still high in terms of market revenues, are witnessing a decline owing to increase in awareness levels among consumers. The household income of black consumers is lesser than the median, nevertheless, there has been an increase in the average income in this demographic. These factors have led to an increased spending by black consumers, leading to wide-ranging opportunities for beverage companies.
According to the report, key players in the market should understand the demographic, including the key motivations and influences that are shaping the growth of the market. Black teens have a higher consumption of regular soft drinks, however, the consumption of diet soda is relatively lesser. Iced tea has a high penetration among black households, and it is highly likely that iced tea will continue to account for significant chunk of revenues among black people. The market is also impacted by the taxes imposed by local governments.
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The report opines that Coca-Cola is the preferred drink among black consumers, whereas Pepsi remains the other popular drink. Demand for flavored soda among consumers is also witnessing an increase, owing to the steady growth in this sector. In the juice category, sweet fruit juices remains the preferred drink among key players. Grape and red flavors remain the preferred drink among black consumers. Overall, the report is a holistic information source that gives stakeholders access to insights that influence the market growth among black consumers.
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