3. News you need to know
The milk variety projected to grow faster than oat milk (Globe News Wire): Surely you’ve heard of the oat milk craze, or at least seen the empty shelves where it’s supposed to sit in your local grocery store. In the next seven years, oat milk sales are expected to grow at an 8% CAGR. But a greater opportunity exists for an old standby: soy milk. Soy milk is expected to grow at a 12% clip and already occupies about 50% of the $15B plant-based milk market. How do you get ahead of the established players? Experts say by making a healthier drink. Make a beverage that is lower in fat and lower in cholesterol than traditional offerings.
All the hops, none of the beer (October Magazine): Brewers have been telling us about hop water for years. The drink combines the flavor of an IPA and the look and texture of seltzer water, with no alcohol. Now, regular consumers are getting hooked. Lagunitas and other craft brewers have introduced hop water products in the last few months, but the market is brand new. And hop water defeats other non-alcoholic beers in an important category: It has no calories, making it an ideal choice for the wellness movement. Here’s a primer for how to make hop water.
The potential and pitfalls of CBD (Chicago Tribune): Sales of CBD-infused drinks totaled about $89m last year and are expected to increase to $1.4B by 2022. Big alcohol is interested, too, and will likely buy successful startups the way it has with spiked seltzer drinks. The caveat: People who already enjoy marijuana tend to not prefer cannabis-infused beverages, and CBD mixes terribly with water.
Pink drinks (Beverage Daily): It’s millennial pink in a glass. Starbucks launched a craze with its pink drinks in 2017, and several copycats have followed, adding berries, beets, blood orange, and other ingredients to turn citrus-flavored beverages red or pink. Pink drinks are the most apparent of a larger trend: drinks that look beautiful on Instagram. Millennials and Gen-Zers desire beverages that are as aesthetically pleasing as they are tasty.