Innova Market Insights will present a webinar Nov. 23 on Top 10 trends impacting the food and beverage market for 2012 and beyond.
Innova Market Insights, the Netherlands, will present a webinar on Top 10 trends impacting the food and beverage market for 2012 and beyond.
The top trends relate purity, authenticity and sustainability, as consumers continue to look for products with added value, despite the ongoing economic uncertainty.
Here’s a sneak peek at some of the trends to be discussed in the webinar:
1."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. Innova reports a doubling in the number of products using the word "pure" between 2008-09, with a further third added in 2010 and considerably more in 2011.
2.Green is a given. Corporate social responsibility and sustainability strategies have taken on an increasingly important role. The focus is on reducing carbon emissions or packaging, or creating higher welfare or fairly traded lines. The "ingredientization" of commodities is also moving forward, with previously untapped waste materials used for their potential functional and health benefits.
3.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.
4.Premium stands out. Despite austerity measures topping the agenda from mid-2011, a premium position provides many benefits. Consumers still have to eat and are likely to look increasingly to the extremes of discount or super-premium products, with center-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.
5.Seniors draw attention.Companies are starting to address the needs of an aging population, both in terms of packaging functionality and of general and specific health concerns. New EU regulations on labeling should also help seniors by improving the clarity and visibility of nutritional information. Various recent moves have been made in U.S. front-of-pack labeling.
The 20-min. webinar will take place Nov. 23 at 4 p.m. (CST). Interested participants can register at https://www2.gotomeeting.com/register/814013578.