14 Food Trends to Watch in 2014: Part Two

Strategy Briefing

About This Report

Jul 2014

With so much happening in packaged food, identifying developments that really matter is a challenge. Euromonitor International has picked out 14 of the most influential food trends to watch in 2014, with Part Two looking at the importance of lower-income groups and the emerging middle class for the packaged food industry. This report also looks at how the internet has impacted how food is sold, how brands engage with consumers and why portable breakfast is the next thing on the menu.

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14 Food Trends to Watch in 2014: Part Two

There’s money to be made feeding the bottom of the pyramid

While there are a number of challenges to be faced selling food to the bottom of the pyramid, the lower-income groups in emerging markets form the majority of the world’s population and therefore represent an increasingly important target audience for the world’s largest food brands.

Time and status are two of the most important issues for the emerging middle class

Having lived on relatively low incomes, many middle-class consumers in the world’s emerging markets are hungry to spend their newly augmented incomes on branded products. While it is more difficult for food brands to convey the message of higher status than it is for apparel brands, the opportunity is nonetheless there through gifting or time saving.

The online shift is already starting to occur…Food brands need to have a strategy in place

On a global level, the amount of packaged food that is purchased online still represents a relatively small share of the total. However, the scale and speed at which the digital transition is occurring means that food brands need to think hard about how their products are positioned on a virtual shelf.

Consumer engagement either online or offline is still the best way to build and maintain brand loyalty in the food industry

With the phenomenal rise of the internet as a medium of communication it has become increasingly important for the food industry to monitor what consumers are saying about their brands. Utilising social media is an effective way to solicit consumer opinions and create a 2-way dialogue. Used in the wrong way, however, it can easily become a quick way to lose loyal fans.

Single-occupant households driving the demand for on-the-go breakfast products around the world

Single-occupant households have already created many opportunities for the food industry such as ready meals. However, with flexible working conditions and the ever-evolving role of women in the workforce, breakfast is no longer an eating occasion at which all members of the family are necessarily present.

What this report includes

  • Top-level strategic analysis of how major consumer trends will influence global markets
  • Consumer insight
  • Impact across all relevant consumer markets
  • Unique graphics and case studies
  • Key market snapshots
  • Accompanying presentation to synthesise main findings

Why buy this report

  • Identify factors driving change now and in the future
  • Understand motivation
  • Forward-looking outlook
  • Briefings and presentation should provoke lively discussion at senior level
  • Take a step back from micro trends
  • Get up to date estimates and comment

Introduction

Scope
Objectives of global briefing
Key findings

F eeding the Bottom of the Pyramid

Food brands need to feed mouths on less than US$100 a week

Feeding the Bottom of the Pyramid

Saturation in developed food markets sparks race to the bottom
Four key challenges of feeding the bottom of the income pyramid
The top nine markets adding to the low-income population
Case study: Selling packaged food through India’s Kiranas
A different approach is needed to generate brand visibility in India
Economising with packaging can deliver more affordable options

Creating Aspirational Food

Moving up the value chain: Food that saves time and confers status
Future population growth to come from middle income groups
Where to add value to food remains a key question for the industry
Vietnamese consumers stock up on bouillon in search of taste
How toddler milk has become an aspirational product in China
Milk formula: China’s love of toddler milk extends to Asia Pacific

The Digital Planogram

How much are we moving towards an online grocery world ?
The rise and rise of online food shopping to change the industry
High-value, planned food purchases best suited for internet sales
Ella’s Kitchen and Danone go online for two very different reasons
Why consumers are purchasing meal replacement products online?
How can food brands secure top spots on a digital planogram?

Staying Social

#Like food? How brands are benefiting from social media
Food brands to move online to promote and protect themselves
By 2030, 96% of the world’s population will be using the internet
Online reviews especially important for older consumers
When things go wrong: Barilla risks alienating consumer base
A masterclass in offline campaigns: PepsiCo’s “Do U s a Flavour”

Portable Breakfasts

How food brands are creating new mobile breakfast options
The fundamentals driving the shift towards portable breakfasts
Not all portable breakfast markets are created equal
A look at the target demographic globally: Single-occupant homes
Finding the perfect market for portable breakfasts
One size does not fit all: A plethora of breakfast options needed
How Kellogg Co sees the evolving breakfast routine

R ecommendations

The second set of trends to watch out for in 2014