Page 70 - FoodFocusThailand No.186 September 2021

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Canada’s overall economic recovery is
progressing in a sluggish pace due to the

risks concerning the new waves of coronavirus
in 2021. The Canadian economy is projected
to expand by 4.0 pecent, depending on the
duration and strictness of the lockdown policies.

The government has adopted several economy-
boosting measures, such as keeping the policy
rate at only 0.25 pecent in hope of encouraging
investment and improving the research and

development as well as the competitiveness
of the business sector. These policies have
attracted some Thai food and drink behemoths,
such as Charoen Pokphand Foods Public

Company Limited or CPF (integrated swine
business) and Boonrawd Brewery Company
Limited, to jump on the investment bandwagon
towards Canada.

Insight into Buying Decision Behaviors

and Growth Opportunities

in Canada’s Functional Drink Market

The booming trends of functional, vitamin-enhanced, and plant- Social Justice Due to the pandemic-induced, socio-economic, and
extract beverages have given beverage manufacturers an opportunity 2financial repercussions that fanned out across most parts of the society,
to develop novel products. These drinks will enjoy a bright prospect a sensitive topic of social disparity is often brought up in many discussions.
on the global level, especially in the main markets such as USA, Brand image, therefore, is of great importance as most consumers no longer
Canada, United Kingdom, and China. solely focus on the product itself, but they also value other underlying
The world’s total value of functional drinks hit USD 125.39 billion aspects as well, such as fair wage, environmental sustainability, community
or THB 3.8 trillion in 2020 and is expected to reach USD 216.7 billion responsibilities, social charity, and non-exploitation in the supply chain.
or THB 9.71 trillion within 2028. With a projected average growth rate
of 7.08 percent between 2021-2028, these products rank among the Hydration Consumers want a ready-to-drink beverage that can
fastest-growing segments. 3satiate their needs for health benefits, hydration, and convenience. A
The most notable trends of functional drinks and consumers’ variety of herbal drinks and enhanced water can be seen in every corner
buying decision behaviors in Canada can be summarized as follows: of the market. More minors and adolescents are now consuming functional
drinks instead of high-sugar soft drinks.
Women’s Power Women have more influential power on
1buying decision than men as they usually are the ones who search Plant Power Mineral-fortified, nutrient-enriched, or electrolyte-
for the right products for their partners, children, and parents. They 4enhanced drinks help maintain the body’s water balance and eliminate
are not just ordinary consumers but rather a dominant group that waste from the body. Innovative technologies are used to extract beneficial
wields decision-making power that can influence the purchase of nutrients from plants, vegetables, and cereals and infuse them into these
functional drinks or other health products. plant-power beverages, which are expected to satisfy the demand of health-
conscious individuals.

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