Matthew Iovane Discusses the Thriving Drink Industry Post-Pandemic Outlook for Healthy Beverages is Bright, Matthew Iovane Says
The healthy beverages sector is set for a sustained boom in the US and UK, angel investor Matthew Iovane says. Consumers are returning to their normal health routines and are prioritizing beverages that can make condition-specific health claims. General wellness and hydration benefits, Matthew Iovane advises.
Iovane believes that as consumers get back to their normal routines, they will place a greater value on convenience in their beverage selections. Beverage brands will seek to secure their niches with an increasing array of product functions.
Better-For-You Beverages Are Poised to Take Off, Matthew Iovane Believes
Consumers are determined to take control over their health, the beverage sector investor advises. Consumer focus on health has led to increasing sales of no- and low-alcohol drinks and healthier choices in soda. Matthew Iovane cites evidence that these trends will continue.
"Beverages with a halo of health will lead industry growth," says Iovanne. "Grand View Research projects that the dairy alternatives market in the United States, for instance, will expand by 12.5 percent this year."
Survey data collected by ingredients supplier Glanbia Nutritionals (Chicago) finds that 46 percent of North American consumers prefer beverages that contain immunostimulant plant products. Gianba's survey also found that 30 percent of consumers have switched to brands of beverages that make immune stimulants or immune support claims.
Ready-To-Drink and On-The-Go Products Poised to Resurge
Matthew Iovane cites food innovation intelligence from Spoonshot (St. Paul, MN), finding that consumer demand for "on the go" beverage products declined 40 percent in 2020 and 2021. That is not surprising since drinking on the go frequently involved taking off PPE and juggling with packaging materials in crowded, supposedly germ-filled public places.