Around the world, people have been shaken into uncertainty by the economic crisis, but there have been reasons for optimism and hope in recent weeks. Looking ahead to 2009, market and consumer intelligence firm Mintel believes consumers will adapt and make the best of the coming year in five major ways. As a backlash against the fast pace of the modern world, people will try to take greater control of their lives and find pleasure in the simple things. Faced with financial insecurity, shoppers will... ...Read more »
In spite of, or perhaps because of, tough economic times, many Americans are clinging to their smallest, most indulgent pleasures, with chocolate, alcohol and cigarette sales remaining solid. New research from Mintel shows market sales for chocolate, cigarettes and alcohol strong and steady. Historically, these “sin stocks” have performed well during times of economic recession. “Chocolate, cigarettes and alcohol again seem relatively recession-proof,” commented Marcia... ...Read more »
Anyone who owns or has recently visited a convenience store or supermarket is aware that energy drinks are hot. Leading market research firm Mintel reports that the retail market for energy drinks is now valued at $4.8 billion, a growth rate of over 400% from 2003, and they now believe the buzz for energy drinks is being transferred to food manufacturers. Drinking for energy The number of “energy drinkers” is still growing briskly, according to Mintel. In 2003, only 9% of adult respondents... ...Read more »
Mintel, a leading supplier of market intelligence, has come a step closer to discovering the next big things in food and drink by combining research from their Global New Products Database (GNPD) and information from the recent Institute of Food Technologists meeting. “Mintel’s IFT ‘08 presentations focused on issues and new products driving food and drink innovation,” comments Lynn Dornblaser, a new product expert with Mintel. “Our taste tests allowed attendees to experience... ...Read more »
Ice cream remains a favourite cool treat amongst consumers despite increased competition from products like frozen yoghurt. According to new consumer research from Mintel, nine in ten Americans (89%) enjoyed a cool, creamy scoop in the past year. In comparison, only three in five (59%) ate novelties such as ice cream sandwiches or bars, while just over a third ate sherbet or frozen yogurt (37% and 34%, respectively). Ice cream’s familiarity to consumers is a key driver of consistent sales of... ...Read more »
Once the poor relation, left on the sweet shop shelf, dark chocolate is steadily gaining notoriety as Britain buys into a new, healthier image. The latest research from MINTEL shows that sales in Britain almost doubled between 2005 and 2007, with sales hitting £85 million last year. Mathilde Dudouit, senior market analyst at MINTEL, believes that the consumer trend toward ‘good for you’ foods is driving growth in the category. “Although dark chocolate is still high in... ...Read more »
Americans increasingly express environmental concerns, so manufacturers are taking steps to convey the eco-friendliness of their products. According to Mintel Global New Products Database (GNPD), the number of new products with an environmentally friendly claim has grown substantially over the past five years. In 2002, only five such products were launched, but in 2007 there were a staggering 328. This was an increase of nearly 200% from the year before. “We’re seeing rapid growth in... ...Read more »
Mintel Menu Insights, a US restaurant-tracking service, has identified eight exciting trends sure to transform the American menu in 2008. Shaking and stirring everything from fine dining to fast food, these menu changes are sure to satisfy appetites, taste buds and health concerns alike.“Everyone’s looking for the next breakthrough item, the next mini burger appetizer, mojito or pomegranate flavor,” says Maria Caranfa, director of Mintel Menu Insights. “This year, we expect to see new twists... ...Read more »