Emerging trends in the Ginger Ale, Soda and Tonic Water market segments
Summary
In July 2020, TasteGuru worked on an exciting collaboration with Dig Insights Inc, a Toronto-based market research agency specializing in providing comprehensive insights for leading brands in the CPG industry. Our goal was to help Dig Insights evaluate and identify market opportunities for one of the worldwide leaders in the soft drink market segment.
Project Scope
The first part of the project which is the main focus of this case study involved generating a completely original list of emerging trends in the ginger ale, soda water and tonic water market segments by analyzing 820K+ tweets using TasteGuru trend prediction AI technology. The second part of the project involved the evaluation of the client’s pre-identified product ideas.
Method
Data Source
Analyzing 820K+ category-specific tweets from July 1st, 2018 to June 31st, 2020, using our unique machine learning algorithm.
Metrics
Identifying and ranking trends with the most growth potential based on their conversation volume and sentiment growth rates.
Results
Providing comprehensive trend insights along with our recommendations and insights on any unusual trend performance.
Top High-Growth Trends
Apple Juice
- Conversation Volume Growth, %
- Sentiment Growth, %
Apple juice has been identified as one of the most promising trends associated with ginger ale during the selected time period. Compared to the previous year, this trend’s conversation volume has grown by 26.29% and its sentiment has grown by a striking 562.28%.
Tomato
- Conversation Volume Growth, %
- Sentiment Growth, %
Tomato and soda water flavour combination has achieved the highest annual conversation growth (+390%) and sentiment growth (+489%). It is a rising trend that presents an outstanding marketing opportunity in the soft drink industry.
Quinine
- Conversation Volume Growth, %
- Sentiment Growth, %
Quinine is one of the traditional tonic water ingredients that gives tonic water its signature bitter taste. The subject of quinine has been on the rise due to scientifically unsupported claims that quinine can aid in COVID-19 prevention and treatment.
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