Gen Zers, Functional Beverages and Foods

Goals

To conduct a demographic study of people in the age range of 18-23 (typically Gen Zers) in the US that are consumers of healthy beverages/functional beverages/functional foods. The data will be used to market an adaptogenic mushroom brew (coffee alternative/additive) to Gen Z consumers.

Early Findings

What is Gen Z?

Initial Findings Regarding Gen Z Consumers and Their Preference for Healthy Foods and Beverages

  • Gen Z consumers in the age range of 11-22 years have already taken up a healthier lifestyle by adopting healthier food and beverages.
  • According to a survey by Mintel, 25% of Gen Zers in the age range 15-17 years are concerned about staying healthy and 49% state that drinking sodas is harmful to the body.
  • More than the other generations, Gen Z consumers seek personalization in their food and beverage. As per Mintel, they prefer testing international recipes at home more than the other generations.
  • Since 46% of Gen Z consumers are non-white (including 22% Hispanics), they have more diverse tastes than the older generations.
  • Gen Z consumers are more health conscious than the other generations. As per a study by Innova Market Insights, 76% of Gen Z consumers implement physical activity as part of their daily routine.
  • Gen Z consumers are passionate about their values and seek brands that align with their values. They prefer transparency and are skeptical of big brands that have too many labels. Compared to the older generations, they are not as brand loyal.
  • The Gen Z consumers already have a combined purchasing power of $44 billion.
  • Some popular food and beverage brands that appeal to the Gen Z tastes in the US are Doritos, Hershey's, and Taco Bell.

The US Functional Food and Beverage Market

  • As per industry forecasts, the US functional food and beverage market is expected to grow at a CAGR of 6.53% between 2017 and 2021.

Summary of the Initial Findings

  • In the initial hour of research, since we did not find much data regarding Gen Z consumers and their preferences for functional foods and beverages, we expanded the search to include all health food/beverages and health products.

Proposed next steps:

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