On October 26, 2023, the China Beverage Industry Association held the 2023 China Beverage Industry Product Innovation and Development Forum.
From the perspective of the beverage market and categories, the focus for this year, as well as the direction of resource allocation, can be summarized in the following order: non-refrigerated ready-to-drink fruit juice, ready-to-drink tea, carbonated beverages, dairy beverages, and probiotic drinks.
Looking at individual brands within the beverage market, top brands account for only 60% of the entire market, indicating that there is still significant market space available. China’s vast geographic expanse and diverse markets provide ample opportunities for emerging brands to establish themselves regionally.
In terms of product trends, health remains a prominent trend. Consumer habits are gradually shifting towards the consumption of unsweetened and sugar-free products. The focus is on natural, additive-free, ecological, and better-quality ingredients, all of which serve as directions for new product innovations. (Source: FoodTalks)
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