Premiumization is a significant trend in the beverage industry, characterized by consumers' interest in premium and super-premium products. This interest is divided into two categories: life-extending and life-affirming. Life-extending focuses on functional non-alcohol products that promote health, while life-affirming emphasizes the psychological uplift from consuming prestigious products, particularly in the alcohol sector. Consumers now seek beverages that align with health goals and ethical standards, valuing clean ingredients and sustainability. The notion of premiumization extends beyond price, emphasizing perceived value and premium experiences.
"Consumer interest in premium and super-premium products seems to fall into two camps: life-extending and life-affirming," he says. "Life-extending refers mostly to functional non-alcohol products that are purported to promote good health, such as probiotics and nootropics."
"Instead, they're looking for beverages that align with their health goals, ethics or identity," he states. "That might mean cleaner ingredients, added functional benefits or sustainable sourcing. They'll pay more, but only if it feels worth it."
"Consumers premiumize in beverage alcohol by purchasing premium, super premium, ultra-premium and luxury products," she explains. "They also find premium experiences in bars and restaurants, cocktails, the purchasing of a higher quality product in a smaller size."
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