Almost half of drinkers are trying to reduce their alcohol consumption, and of them, 52 percent are replacing alcohol with non-alcoholic beverages, according to research consumer insights platform Veylinx that was conducted in October. Consumers identified improving their physical health and mental well-being as the main reasons for drinking less.
The study found that people who drink alcohol are willing to pay more for non-alcoholic canned cocktails than non-drinkers, and people who say they want to reduce their alcohol consumption show stronger demand for non-alcoholic cocktails.
"Driven by younger consumers, the non-alcoholic beer, wine, and cocktails category is surging in popularity. People trying to cut down their drinking are finding more and more alternatives on retail shelves and in bars and restaurants," said Anouar El Haji, CEO of Veylinx, in a statement. "Our research found that they're willing to pay premium prices for non-alcoholic versions of ready-to-drink cocktails. The rise of the 'sober curious' movement gives brands countless opportunities for growth in this segment."
For these consumers, the demand for non-alcoholic canned cocktails is 13 percent higher than the demand for their alcoholic counterparts. At premium price points, consumers trying to drink less are willing to spend 71 percent more than the general population on non-alcoholic canned cocktails, at $20 for a four-pack.
The research also found that non-alcoholic canned cocktails resonate higher with younger audiences: the demand is 48 percent higher among 21-35-year-olds than those over 35.
The ability to try before purchase and better taste are the key to attracting more consumers to the category, according to the company, as consumers said that their main reasons for not purchasing non-alcoholic drinks are flavor, price, and because they have never tried them before.
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