The health-conscious younger consumer is driving the trend for functional nonalcoholic drinks that tout health benefits or mood-altering properties.
A more health-conscious younger consumer and an aging older demographic are contributing to a growing interest in nonalcoholic drinks, according to Nielsen IQ, and to the rise of a niche subset called "functional beverages."
Mimi Lam, co-founder and chief executive officer of Superette, arranges cannabis-infused beverages at the Superette Sip 'N' Smoke cannabis dispensary in Toronto, Ontario, Canada, on Monday, Oct. 25, 2021.More Americans are looking for alcohol alternatives, and beverage makers that tout the health benefits of their drinks are trying to capitalize on that.
The drinks surged in popularity after the pandemic, crowding grocery store aisles and then appearing on restaurant and bar menus. But the growth of functional beverages doesn't signal the end of alcohol consumption. Around 80% of those who buy nonalcoholic beverages also buy drinks that contain alcohol, according to
Jake Bullock, founder and CEO of cannabis drink company Cann, said consumers now have more health and wellness information available than ever on devices such as Apple Watches or iPhones. He said he believes the data is "encouraging people to consider the harms of alcohol in a way that we never would have 20 years ago."Consumer health and wellness concerns spiked during the pandemic, and the trend has not gone away, Frey said.
Hop Wtr was co-founded by Nick Taranto, an ex-Marine turned competitive athlete, and Bass, who said he was training for a triathlon at the time. The duo loved "to crack open a cold beer" but wanted a nonalcoholic alternative that would relax them without the health drawbacks of alcohol, Bass said. Edge is a bartender and manager at Hekate, a witchcraft-themed sober bar in the East Village neighborhood of New York City. Hekate was the first sober bar in the city when it opened in January 2022.
"People are curious. It seems like they are tired of relying exclusively on something like alcohol for the moods and feelings they want, which are calmness but also sociability," Edge said. "So I think a lot of our success is coming from people actually looking for a true alcohol alternative: something that doesn't just taste like alcohol but actually gives them a kick," Nosbisch said."These are the people that are closing down the dance floor but then also at their morning workout class," Bullock told CNBC.
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