Top five trends for food and beverage market during 2012
International research body, Innova Market Insights, has identified five key trends that it claims will impact the Australian food and beverage market through 2012 and beyond.
According to Innova, the top trends for 2012 relate purity, authenticity and sustainability, as consumers continue to look for products with added value, despite the ongoing economic uncertainty.
Innova’s top five trends are as follows:
- ‘Pure’ is the new ‘natural’: Natural products are becoming the rule rather than the exception in most western markets, despite ongoing issues with a clear definition of what ‘natural’ encompasses. One way around this has been marketing the ‘purity’ of a product. Innova Market Insights reported a doubling in the number of food and drink products using the word ‘pure’ between 2008 and 2009, with a further third added in 2010 and considerably more in 2011.
- Green is a given: Corporate social responsibility and sustainability strategies have taken on an increasingly important role. The current focus is on reducing carbon emissions or packaging, or creating higher welfare or fairly traded lines. The “ingredientisation” of commodities is also moving forward, with previously untapped waste materials used for their potential functional and health benefits.
- Location, location, location: Interest in where foods are coming from has never been higher among consumers. This is being driven by an interest in supporting local suppliers, a desire for ethnic-style lines, concerns over the quality and safety of imported products, or the demand for authenticity in terms of products from a particular country or region.
- Premium stands out: Despite austerity measures topping the agenda yet again from mid-2011, a premium positioning provides many benefits. Consumers are likely to look increasingly to the extremes of discount or super-premium products, with centre-ground brands squeezed. A premium treat can be justified as an affordable indulgence during difficult economic times, particularly if it can also encompass a better-for-you element.
- Seniors draw attention: Companies are starting to address the needs of an ageing population, both in terms of packaging functionality and of general and specific health concerns.