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Functional Beverages Compete for Share of Throat

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Functional Beverages Compete for Share of Throat BEVERAGES FUNCTIONAL BEVERAGES COMPETE FOR SHARE OF THROAT As shoppers demand more from their food and drink, functional benefits will be a key deciding factor in beverage choice. By IRI Lead Consultant Justin Nel. otal beverages, representing nearly 40 per cent of the brand’s share more than $1.1 billion in the in the channel. convenience channel, has delivered 2.3 per cent growth Looking to the future Tfor the MAT to 1/12/19, a $26 million Consumers have an array of options to increase compared with the same period get their energy or focus fix, but it will ending a year ago. be interesting to watch manufacturers The energy drink segment continues adapt and innovate products to to benefit from the popularity of accommodate the need state of functional beverages. The segment is Australians. According to a report from in growth of 3.7 per cent (up $11 million) PwC’s Health Research Institute, nearly MAT to 1/12/19. Growth has been led by 40 per cent of Australians surveyed are Red Bull and Monster, adding $6 million unable to ‘switch off’ after a long day and $5 million respectively to the total and get a good night’s sleep. Valerian $331 million energy drinks market. root, currently only found in tea and But it is the demand for further fortified milk products, may be the next functional benefits that is delivering functional beverage ingredient to watch. the strongest growth in beverages It is now being used by UK milk brand within the convenience channel. Sleep Well, which claims the ingredient Functional benefits from beverages has been relaxing and helping people are set to steal more share of throat sleep for nearly 2,000 years. from established categories such as juice and flavoured milk (down two per ranges from regulating and stabilising References IRI Scan Data MAT 1/12/19. cent and 6.4 per cent, respectively, blood sugar, balancing the body’s pH Convenience market: 7-Eleven, Coles Express, MAT 1/12/19). Consumers are moving levels, lowering cholesterol and restoring Caltex, BP, Woolworths Petrol, Puma Energy, Freedom Fuels, NightOwl and APCO. away from these sugary segments balance with electrolytes as well as and instead selecting better for you regulating appetite. Switchel is certain beverages that provide benefits to appeal to health conscious Australians beyond just quenching a thirst. looking for a functional sugar-free drink. A key example of this has been About Justin Nel Justin, a Lead Consultant the explosion of kombucha onto the What’s next? for IRI, brings with him Australian market. Fermented drinks are Another functional benefit claimed extensive experience in currently worth $11 million in convenience in the beverage space is that of the the food and beverage alone and are still growing at 67 per cent cognitive effect from nootropics. industry. His focus is aligning clients’ business for the current MAT versus the previous Said to sharpen the mind with natural objectives with relevant year. The positioning of a sugar-free drink ingredients, nootropics (colloquially insights and information, using IRI services containing ‘good for your gut’ bacteria known as ‘smart drugs’ or ‘cognitive to deliver unique strategic views of has struck a chord with Australians, and enhancers’) are described as improving consumer trends and products that will deliver growth. Remedy seeks to build on its success memory, creativity or motivation in with the launch of its Switchel products, healthy individuals. The current leader About IRI the new benefit beverage on the scene. in this space is Shine+ which has IRI is a leading provider of big data, Originating in the Caribbean and the US contributed more than $1 million to predictive analytics and forward-looking insights that help FMCG, OTC healthcare, state of New England, Switchel is a water- the convenience channel in the latest retailers and media companies to grow their based drink mixed with vinegar, ginger, MAT to 1/12/19 and is growing at 86 per businesses. With the largest repository of molasses or honey. It was traditionally cent from a small base of $570,000 purchase, media, social, causal and loyalty the thirst quenching choice for farmers in last year. Shine+ entered the market data, all integrated on an on-demand cloud-based technology platform, IRI the 19th century. Althoug In early stages as a single 110ml ‘smart’ drink and has helps to guide its more than 5,000 clients in convenience, Remedy’s Switchel has quickly grown, building its range with around the world in their quests to remain already added $440,000 for the MAT and four 400ml products containing varying relentlessly relevant, capture market is growing at 76 per cent for the quarter levels of caffeine, plus a caffeine free share, connect with consumers and ending 1/12/19 versus the previous variety. The Wild Tropical Extra Caffeine deliver market- quarter. The extensive list of Switchel variant has quickly become the leading growth. benefits mentioned on Remedy’s website company’s top performer, generating 24 CONVENIENCE WORLD JAN/FEB, 2020.
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