What is a Beverage Business?
A beverage is any liquid intended for consumption intended for internal use. Other terms used to describe beverages are juice, drinks, water, beer, wine, spirit, etc. In addition to their primary purpose of meeting thirst, beverages also play important cultural roles. Most common beverages are water, juice, milk and alcoholic beverages. Traditionally, cold beverages have been associated with tea, coffee and hot chocolate, but in modern times many other beverages, including fruit juices, sweetened tea and cordial have become popular. Juice bars, ice-cream parlors, and coffee houses continue to cater to the needs of consumers looking for more delicious beverage options.
With the increase in the number of beverage choices, beverage business has become a large industry. Most successful beverage businesses have multiple locations and several beverage product lines. In addition to beverages, some beverage businesses sell food products, non-food items and related services such as cleaning, laundry, bakery and specialty food service. The vast majority of beverage companies offer consumer discounts and rebates on selected beverages and related products.
The beverage industry is one of the fastest growing segments of the overall health and wellness marketplace. According to the Beverage Advertising Initiative, a beverage advertising research firm, in 2021 the amount of beverage money spent increased by three percent to reach a record amount of $14.5 billion. Most successful beverage advertisers target well-known brand names in order to reach a targeted audience.