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 more45 pages, Nov 2016
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Food manufacturers have dealt with market saturation in the world’s leading packaged food markets for a number of years. Recently, this has been accompanied by a slowdown in volume growth in many beacons of light, such as Brazil and China. With a few exceptions, this slowdown appears to be a permanent fixture of the food world, with potential for volume expansion restricted. This briefing addresses the tactics companies could and should use to weather this permanent low-growth environment.
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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.
Low growth has been a central characteristic of “core markets” such as Western Europe and North America for many years. This has spread in part to the beacons of hope in the food market, including the BRICs. Another issue, however, is the limited potential for growth that many markets and products, with the exceptions of China and India, show. This makes growth extremely difficult -the most suitable markets for companies’ products have all stalled.
With growth slowing, the competitive landscape has shifted from manufacturers aiming to take a larger slice of a steadily growing pie to maintaining their current slice of a stagnating one. Growth has slowed and markets may begin -or in some cases have begun -to contract. This is making the market more aggressive and goes some way to explaining M&A activity.
Competitive rivalries used to be intra-category -Hershey against Mars, for example, as both specialise in confectionery. Now, however, competition has become more inter-category, between confectionery, savoury snacks and dairy, for example. This can be evidenced by Pepsi’s recent failed attempt to acquire yoghurt manufacturer Chobani, as it sought to capitalise on a new snacking white space. Finding new snacks will represent a large proportion of growth in the most saturated markets.
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.