Sleep Enhancing Beverages: MotivBase Market Watch presents the latest emerging trend
In this series of posts we look at emerging trends that are identified and sized to fall in the zone of innovation using our MotivBase Trends Platform. We then look to identify new innovations that are entering the market and primed to solve for the consumer’s unmet needs. MotivBase Trend identified: Sleep is a big bet for many companies at the moment, and for good reason. By looking at the culture of improving sleep in our MotivBase trends platform we can better understand the potential for this trend in the US market. As of today the idea of improving sleep is relevant to 54.6 million Americans and sits in with the Early Majority. But the culture is primed to grow by almost 74.4% in the next 12 to 24 months. This will place it in the Zone of Innovation. Better yet it shows the consumer associating various emerging meanings around the need for certain ingredients and micro nutrients to enhance one's quality of sleep. Which is exactly what the next product attempts to capitalize on. In-Market Solution: While famous for their caffeinated beverages, PepsiCo is launching a pre-bed beverage designed to help you prepare for sleep. Named “Driftwell”, the new product contains 200 grams of L-theanine which is an amino acid found in green tea and that is linked to having stress-mitigating properties. Plus, each can will feature 10% of the recommended daily intake of magnesium, a mineral supplement commonly taken to improve sleep and mood. As you can read in this CNN article, PepsiCo is taking the world's current state into account. And as Emily Silver, PepsiCo's vice president of innovation, puts it: “PepsiCo sees an opportunity -- especially during these anxiety-inducing times -- to offer stress-relief via beverage form" Conclusion: Many business analysts are looking at functional beverages that feature vitamins, herbs, plants and minerals associated with a potential health or performance benefit as a small or niche category. But when we take a consumer-led approach and look at the culture of improving sleep, we can see that this is not only relevant to a large portion of the American population, but also primed to grow as consumers increasingly look to manage both their stress and anxiety. Sleep is increasingly being seen as a key to managing one’s mood as well as helping improve overall health and performance. Positioning a delicious beverage to aid in the transition to sleep is a big bet, but culturally relevant one for PepsiCo.