In good and times and bad, it is difficult to match the excitement of sports. Going hand-in-hand are sports nutrition products which reached $3.5 billion in 2022, and are expected to skyrocket in the coming years.
Although perhaps not the impressive gold-medal victory achieved by the U.S. Men’s Olympic hockey team over the Russian’s in 1980 in Lake Placid, N.Y., most areas of the non-dairy market are scoring plenty of goals, with the exception of the juice market, which is biding its next chance to skate through a slump.
On-trend product development is helping key segments avoid a sad-clown frown.
November 2, 2020
Nondairy beverages mainly painted on smiles this year. Ready-to-drink (RTD) coffee was the master of ceremonies at retail, shining in both the shelf-stable cappuccino/iced coffee and refrigerated coffee segments.
They might not be sold hot, but ready-to-drink (RTD) coffee and tea are sizzling when it comes to U.S. sales. Dollar sales for the convenience-minded category jumped 5.1% during the 52 weeks ending Aug. 12, 2018, to reach $6.3 billion, according to data from Chicago-based market research firm IRI.
Tea and ready-to-drink (RTD) tea achieved estimated sales of $6.7 billion in 2012, according to Chicago-based market research firm Mintel. And sales are expected to grow to nearly $8 billion by 2014, said Douglas Rash, group vice president of global sales for Treatt, Lakeland, Fla., citing statistics from Rockville, Md.-based Packaged Facts.