The American beverage and sports markets demonstrate a growing interest in health consciousness, fitness, and alternative sources of protein. In 2021, the market was dominated by plant-based proteins and products that contain additional nutrients (PRNewswire, 2022). The local industry in Newark is similar to the countrywide trends for healthy drinks with plant-based and nutrient-rich contents. Therefore, the chosen market segment is vegan protein drinks with vitamins and minerals.
Target customers for these drinks are sports-oriented, young, and interested in building muscle or losing weight. Thus, the leading segments are consumers interested in an active lifestyle, individuals who want to lose weight, vegetarians or vegans, and health-conscious people. The age for these segments ranges from 18 to 45. The product will be marketed to women and men due to the general interest in fitness.
The product must have a unique marketing strategy to excel in the broad US market. The marketing will focus on several points that give the product a competitive age. First, the company will use recyclable packaging and discuss its benefits through media channels and advertising to attract environmentally-conscious consumers. Second, the product will be offered in several packaging sizes and types to appeal to people with busy lifestyles and different nutritional needs.
Customizing the drink’s contents and flavors is the main quality to stand out from the competition. Customers will be asked to complete a test on the drink’s promotional website that helps them choose the perfect formula. For example, they will answer questions about their gender, age, height, weight, desired goals, diet preferences, restrictions, and tastes. Based on the results, they will be offered a personalized formula that can be ordered online. The contents of protein drinks will differ in the addition of vitamins, nutritional supplements, protein type, and flavorings.
Reference
PRNewswire. (2022). Alternative protein market to garner $33.75 billion by 2030, at 10.1% CAGR, says The Brainy Insights. Yahoo!Finance. Web.