Alcoholic beverage consumers tend to be novelty seeking, but constant bombardment with craft launches and unusual flavors has led consumers to feel that they are overloaded with choice, says leading data and analytics company leading data and analytics company GlobalData.
The news that more than half (57%) of beer and cider consumers in Asia-Pacific (APAC) find new experiences more exciting than new products also suggests that future success may depend more on finding ways to deliver new “consumption memories” than flooding the market with new products.
The company’s report, ‘Snapshot of Beer and Cider Innovation Trends’, states that overloading the consumer with choice has devalued the ‘craft’ concept. As a result, consumers are shifting toward more immersive, individual, and personalized experiences instead of seeking out overpriced novelties.
This sentiment is reflected in the company’s survey findings confirming that 46% of consumers in APAC say that marketing buzzwords such as ‘craft’ and ‘artisanal production’ are just an excuse for manufacturers to charge extra for alcoholic beverages.
Tom Vierhile, Director of Innovation Insights at GlobalData, says: “Craft beer may have become too mainstream for its own good and overuse of the word ‘craft’ could lead to a consumer backlash. Consumers do remain open to new consumption experiences and are also making healthier choices. We could easily see the industry pivot toward this innovation pillar in the months and years to come.”
Indeed, APAC consumers are much more likely than global consumers overall to focus on health claims when making alcoholic beverage choices. 51% of APAC consumers say they find health claims to be influential when choosing which alcoholic drinks to enjoy versus just 38% of consumers globally, according to GlobalData.1
APAC consumers are also much more likely to say they plan on cutting down on alcohol consumption for health reasons than consumers globally. 53% of consumers in the APAC region say they agree that they plan on cutting down on alcohol consumption for health reasons compared to just 37% of consumers globally, per GlobalData.1
Vierhile concludes: “Consumers, especially younger consumers, are increasingly drawn to more healthful food and drink options, and this will influence beer and cider innovation over time. Consumers still want to treat themselves, and we think there are plenty of opportunities for products that target special occasions or are intended to be served with specific meals.”
“To boost sales in a struggling global market, beer and cider makers may have to explore a wider range of innovation opportunities ranging from non-alcoholic products to beer or cider products that offer better portion control and a more unique experience.”
Analysts available for comment. Please contact the GlobalData Press Office at firstname.lastname@example.org.