LCRB Bulletin 23-11 Increases Allowable Liquor Transfers Between LicensesDecember 5, 2023
ABLE BC Releases 2023 Advocacy ReportDecember 16, 2023
‘Tis the season for festive celebration and for liquor industry analysts and experts to predict beverage alcohol trends for 2024. Datassential, a food and beverage industry data analytics company, recently published their predictions.
Datassential has predicted “12 mega-trends” in beverage alcohol that will be hot in 2024. We’ve summarized eight of the most notable trends below.
Producers are getting more creative and continue to blur the lines between categories, introducing more cross-over alcohol beverages such as hard soda, wine cocktails and whiskey seltzer. Curious consumers, looking for non-traditional choices are becoming more aware of offerings such as cannabis/THC-infused beverages and spiked coconut water.
Low- and No-Alcohol Drinks
For a few years, millennials have been driving change in the liquor industry, wanting healthier choices for the sober-curious and health conscious. Millennials are a huge spending group, and producers have introduced many low-alcohol and no-alcohol choices to meet the demand. According to Datassential, nearly 50% of consumers are interested in low-alcohol cocktails and 45% are interested in craft mocktails and CBD-infused beverages.
Latin American Liquor
Alcohol beverages from Central and South America and the Caribbean are peaking the interest of consumers. “Latin American cocktail trends are ones to watch”, says Datassential.
Alcohol beverages from Asia are becoming more popular. Aside from sake, whiskeys from Japan and other parts of Asia have been introduced to the U.S. market and are getting consumers’ attention.
Unique & Healthy Wines
Healthier wine choices like sparkling red wine and wines with fewer carbs and sugar are becoming more popular with health conscious consumers.
Booze for Your Sweet Tooth
Alcohol beverages for sugar lovers are getting more attention, including dessert-inspired wines and beers.
More drinks with “fizz” are being introduced across categories, including sparkling wines and wine seltzers, alcohol tonic waters, extra-high-ABV seltzers, and non-alcohol sparkling teas.
Consumers are becoming more conscious of the impact that their choices have on the environment, including what they drink. Responding to the demand, some producers are implementing less wasteful and more sustainable packaging and production practices while also using more natural ingredients.
Source for the above: “The 12 Top Beverage Trends to Know for 2024”, Datassential.
Other Alcohol Trends Predicted for 2024
“Trending in Beer: 2024 Predictions”, Backbar, September 28, 2023.
“Beer Industry Trends to Watch in 2024”, Tomorrow’s World Today, Discovery channel companion website.
“IWSR report outlines key trends in wine for 2024” by Melissa Parker, October 10, 2023, Drinks Trade.
Ask Thrive What Trending Products You Should Add to Your Inventory
Thrive Liquor & Cannabis Advisors is BC’s leading retail liquor consulting firm. Our operations and strategic planning services help businesses fine-tune their operation. Our liquor consultants audit inventories, store layouts, and operational practices, making recommendations that can help you succeed in BC’s competitive market.