7 Reasons to Export Drink Products from Your Country
If you are a drink producer or distributor, you might be wondering how to expand your market and reach new customers. One of the best ways to do that is to export your drink products to other countries. Exporting can offer many benefits for your business, such as:
Increased sales and profits
By exporting, you can access new markets with different preferences and demands. You can also diversify your income sources and reduce your dependence on the domestic market.
Enhanced competitiveness
By exporting, you can learn from the best practices and innovations of other countries. You can also improve your product quality and customer service to meet the international standards and expectations.
Reduced risk
By exporting, you can spread your risk across different markets and regions. You can also take advantage of seasonal variations and fluctuations in demand and supply.
Improved reputation
By exporting, you can build your brand awareness and recognition in the global market. You can also enhance your reputation as a reliable and trustworthy supplier of high-quality drink products.
Increased customer loyalty
By exporting, you can establish long-term relationships with your customers in other countries. You can also increase your customer satisfaction and retention by offering them more variety and value.
More innovation
By exporting, you can stimulate your creativity and innovation. You can also develop new products or modify existing ones to suit the needs and preferences of different markets.
More social impact
By exporting, you can contribute to the economic and social development of your country and the countries you export to. You can also support environmental sustainability and ethical practices in the drink industry.
As you can see, exporting drink products from your country can be a great opportunity for your business. However, exporting also involves some challenges and risks, such as:
High costs
Exporting requires a lot of investment in terms of time, money, and resources. You need to research the market, find reliable partners, comply with regulations, transport the goods, and deal with customs and taxes.
Complex regulations
Exporting involves dealing with different laws and standards in different countries. You need to ensure that your products meet the quality, safety, labeling, packaging, and certification requirements of each market.
Cultural differences
Exporting involves communicating and negotiating with people from different cultures and backgrounds. You need to understand their values, beliefs, behaviors, and expectations. You also need to adapt your marketing and sales strategies to suit their preferences and tastes.
Competitive pressure
Exporting exposes you to more competition from local and international players. You need to differentiate your products from others and offer a unique value proposition to your customers.
Political instability
Exporting exposes you to the political and economic risks of the countries you export to. You need to monitor the situation and be prepared for any changes or disruptions that might affect your business.
To overcome these challenges and risks, you need to plan carefully and strategically before you start exporting. Here are some steps you can take to prepare yourself for exporting:
Conduct a market research
Identify the potential markets for your products based on their size, growth, demand, competition, regulations, and opportunities. Choose the most suitable markets for your products based on your goals, capabilities, and resources.
Develop an export plan
Define your objectives, target customers, marketing mix, distribution channels, pricing strategy, budget, timeline, and performance indicators for each market. Review and update your plan regularly based on the feedback and results.
Find an export partner
Look for a reputable and experienced partner who can help you with the logistics, documentation, legalities, payments, and customer service aspects of exporting. Choose a partner who has a good network, knowledge, and reputation in the market you want to enter.
Register your products
Obtain the necessary licenses, permits, certificates, trademarks, patents, or other documents that prove that your products are legal, safe, and compliant with the regulations of each market. Keep track of the expiration dates and renewal procedures of these documents.
Promote your products
Create a marketing campaign that showcases the benefits and features of your products to your target customers. Use different channels and methods such as online platforms, social media, trade shows, exhibitions, advertisements, or word-of-mouth referrals.
Deliver your products
Arrange the transportation mode (air, sea, land), route (direct or indirect), carrier (freight forwarder or courier), insurance (coverage and cost), packaging (material and design), labeling (information and language), invoicing (currency and terms), payment (method and time), customs clearance (duties and taxes), delivery (time and location), after-sales service (warranty and support) of your products.
Exporting drink products from your country can be a rewarding experience for you and your business if you do it right. By following these steps, you can increase your chances of success and enjoy the benefits of exporting.
The Global Demand for Export Drinks
Export drinks are beverages that are produced in one country and sold to another. They can include alcoholic drinks, such as whiskey, wine, and beer, as well as non-alcoholic drinks, such as soft drinks, bottled water, and juice. Export drinks are part of the global beverage industry, which is expected to grow from $1.5 trillion in 2020 to $1.8 trillion in 2024. In this article, we will look at some of the statistics and trends that shape the demand for export drinks around the world.
The Top Exporters and Importers of Alcoholic Drinks
According to Statista, the leading food or drink product exported from the UK in 2021 was whiskey, with a value of 4.6 billion British pounds. Whiskey was also the most exported alcoholic drink from the US in 2017, with a value of $1.3 billion. Other top exporters of alcoholic drinks include France, Italy, Germany, Spain, Mexico, and Australia.
The top importers of alcoholic drinks vary by region and preference. For example, the US is the largest importer of wine, followed by the UK, Germany, China, and Canada. China is the largest importer of beer, followed by the US, France, Russia, and South Korea. The UK is the largest importer of spirits, followed by Germany, France, Singapore, and Spain.
The demand for alcoholic drinks is influenced by several factors, such as income levels, cultural norms, health awareness, and tourism. According to a report by IWSR Drinks Market Analysis, the global consumption of alcoholic drinks declined by 6.2% in 2020 due to the COVID-19 pandemic and its impact on hospitality and travel sectors. However, the report also predicts a recovery in 2021 and beyond, as vaccination programs allow for more social occasions and consumption occasions.
The Top Exporters and Importers of Non-Alcoholic Drinks
Non-alcoholic drinks include soft drinks, bottled water, juice, coffee, tea, and energy drinks. They are widely consumed around the world for various reasons, such as hydration, nutrition, refreshment, and stimulation. According to Statista, the global market size of non-alcoholic drinks was $967 billion in 2020 and is expected to reach $1.1 trillion by 2024.
The top exporters of non-alcoholic drinks include Germany, France, Belgium, Netherlands, and Poland. The top importers of non-alcoholic drinks include the US, UK, France, Germany, and Canada. The demand for non-alcoholic drinks is driven by several factors, such as population growth, urbanization, lifestyle changes, health consciousness, and innovation.
One of the emerging trends in the non-alcoholic drink market is the rise of non-alcoholic spirits. These are beverages that mimic the taste and experience of alcoholic spirits without containing any alcohol. They are designed to appeal to consumers who want to enjoy a sophisticated drink without compromising their health or social obligations. According to Grand View Research, the global market size of non-alcoholic spirits was $25.6 million in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 39.7% from 2021 to 2028.
The Future of Export Drinks
Export drinks are a significant segment of the global beverage industry and have a large potential for growth in the coming years. However, they also face some challenges and uncertainties due to factors such as trade barriers, environmental issues, consumer preferences, and competition. Therefore, exporters and importers of export drinks need to be aware of the changing market dynamics and adapt their strategies accordingly.
Some of the possible opportunities for export drinks include:
- Expanding into new markets or regions that have high demand or low supply of certain types of drinks
- Developing new products or flavors that cater to local tastes or trends
- Leveraging digital platforms or channels to reach more customers or enhance customer loyalty
- Collaborating with other players in the value chain to create synergies or efficiencies
- Investing in sustainability or social responsibility initiatives to improve brand image or reputation
Some of the possible threats for export drinks include:
- Facing tariffs or quotas that increase costs or reduce competitiveness
- Dealing with regulatory or legal changes that affect production or distribution
- Experiencing supply chain disruptions or shortages due to natural disasters or political conflicts
- Losing market share or customers to domestic or foreign competitors
- Facing consumer backlash or boycotts due to ethical or environmental concerns
References:
https://www.curacaoliqueur.com/brand/production-process
http://www.curacaolikeur.nl/en/history/
https://www.statista.com/topics/1709/alcoholic-beverages/
https://www.statista.com/topics/8803/alcoholic-beverages-industry-in-the-united-states/
https://foodtruckempire.com/news/beverage-industry-statistics/
https://www.statista.com/statistics/415651/leading-food-and-drink-exports-united-kingdom-uk/
https://dealsonhealth.net/beverage-industry-statistics/
https://www.business.gov.au/guide/exporting
https://www.shopify.com/blog/how-to-export-products
https://www.thebalancesmb.com/exporting-your-products-2948318
Essential Topics You Should Be Familiar With:
- export drink
- export tariff
- timber export
- wood export
- wheat export
- rice export
- food export
- sugar export
- banana export
- fruit export
