Why beverage brands must embrace strategic partnerships

About 65% of global consumers prioritise well-known brands when making purchasing decisions.

The beverage industry is increasingly turning to strategic partnerships as a key strategy to boost sales and market visibility, according to GlobalData.

“The partnerships allow collaborating brands to leverage their existing fan bases and create a buzz around the product,” the report said.

About 65% of global consumers prioritise well-known brands when making purchasing decisions, underscoring the value of such alliances.

An example of this trend is the recent collaboration between Coca-Cola and Mondelez International, which resulted in limited-edition products such as a cola flavored like Oreo cookies and Oreo Coca-Cola cookies. 

Additionally, Coca-Cola's Fanta brand has also joined the trend with the launch of Fanta Zero Afterlife, a Halloween-themed apple flavor featuring Beetlejuice-themed packaging, aimed at boosting seasonal engagement.

“These collaborations and limited-edition products are part of a larger trend in the beverage market, where companies are constantly looking for ways to innovate and attract consumers with unique offerings,” said George Shaw, Consumer Analyst at GlobalData.

“By partnering with well-known brands or incorporating popular themes, companies can generate brand excitement and increase sales,” he added.

With the global carbonates market projected to reach $521b by 2029, companies are a;so increasingly focusing on unique offerings and creative alliances to secure their market position.