The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.
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Learn moreFeb 2014
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With so much happening in packaged food, identifying developments which really matter is a challenge. Euromonitor International has picked out 14 of the most influential food trends to watch in 2014, with part one examining the first four, from the impact of on-off dieting to the expansion of demand for high protein food products. This report also covers how the war against food waste may impact purchases, and what the growing importance of food safety means to manufacturers.
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Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.
“On-off” diets are gaining increasing acceptance among weight conscious consumers in developed markets, and can be regarded as a profitable opportunity for food manufacturers. Strategies to benefit from this trend include the introduction of multipack ranges adapted to the diet calendar.
Protein-enriched dairy products have seen a steady flow of new product developments, with many expanding beyond yoghurt into snack bars and other products. New strategies could include combining protein and fibre in bakery products.
Food wastage is increasingly regarded as unethical. Certification, awareness initiatives and education campaigns that target ethical consumers are a few ways in which food manufacturers can be seen to be taking action. “Low- waste” shelf areas for waste efficient food products could also be a possibility within supermarkets in markets that are particularly sensitive to the trend.
As most food wastage is generated by inefficiencies in the supply chain, any reduction in waste will reduce the input costs of manufacturing. This would be particularly beneficial for the dairy and bakery sectors, which are most prone to food wastage. Low (or zero) waste products could provide another crucial difference between branded and private label offerings to consumers.
With an array of dairy and meat product scandals afflicting the food industry in 2013, many consumers will want to see real action being taken in 2014. In markets such as China, nothing short of independent certification is likely to be valued by consumers, but this could add a premium to certified brands.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.