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 moreOct 2014
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With the packaged food market hitting saturation point in developed markets, the key challenge for brands is to identify white space: the last remaining areas of opportunity. In mature markets where spending on food is already high, Euromonitor International identifies three potential areas of white space that can help push extra value growth: innovation through packaging, alternative distribution channels and lifestyle food products.
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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.
Through white space, brands can command higher unit prices and in increased margins in key mature markets. While developing markets are showing strong growth figures, the precarious business environments and political risks, should not be underestimated. Key markets can offer an established distribution platform with plenty of opportunity for value growth.
Packaging can play an instrumental role in creating convenience and excitement around the food item. With evermore crowded food shelves, packaging enables brands to offer a unique selling point by allowing consumers to engage with the product; all the while charging a higher premium and gaining improved margins.
Selling packaged food through a supermarket is the most common form of distribution for key markets, yet selling through unconventional channels such as apparel specialist retailers or beauty specialist retailers could do much in terms of product branding as well as targeting a new consumer group that might not normally be reached.
Product formulation can create more eating occasions with the food product and therefore compete with other food substitutes, but it can also play into premiumisation in terms of product engagement which allows for a premium to be charged.
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.