By 2040, 16% of the population in Asia Pacific will be aged over 65. Yet, age-specific, non-prescription food which targets this increasingly health-conscious demographic is still limited in Asia Pacific. At the same time, consumers tend to shift away from thinking strength and fitness are key factors of health as they age.
The beverages industry, as with most areas of consumer goods, retail, and our wider society, has experienced the most tumultuous year that anyone can remember. According to Euromonitor International, total volume growth across all channels tracked was down 3% globally in 2020. While this may not sound like a lot, this is a significant figure in an industry where some degree of volume growth continued even during the Great Recession of 2008-2009.
Sustainability is needed at the heart of business strategy so environmental and social goals can be integrated into companies' targets and activities. The ultimate goal is to create long-term value, not only for stakeholders but also for the wider society. The food industry is one of the biggest contributors to climate change and therefore there is a need to rethink our food systems. Increased demand for plant-based diets and tech-driven innovation to achieve more efficient agricultural practices are but two examples of the ongoing change in this space.
In this webinar, we look at trends influencing the flexitarian or plant-based consumer. We highlight plant-based and other alternative protein products coming to market, products that allow consumers to enjoy the same tastes, textures, and versatility as animal-derived foods.
Consumers around the world are showing clear messages regarding packaging preferences that are better for the environment. Greener solutions like recyclable, biodegradable and refillable are rooted in Latin American consumer minds, over Europe and North America. Yet there is still a gap between what consumers want and the available solutions companies are offering in the region, so players should prioritise sustainable packaging efforts, as it is already happening in Europe, to win in Latin America.
The Coronavirus (COVID-19) pandemic has transformed snacking. Portability, on-the-go and social occasions were disrupted by quarantine orders and distancing efforts. Sales in emerging markets – which are uniquely dependent on out-of-home occasions – and in categories like snack bars, mints and gum, all struggled with these shifts. At the same time, categories like savoury snacks, cookies or ice cream saw sales surge as stuck-at-home consumers turned to snacks for comfort and indulgence or for family movie nights.