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 moreSep 2018
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With significant global unmet potential, long-term prospects for industry growth remain strong. However, the industry will continue to face risks to profitability and needs to secure relevant product array for premium and value consumers to tap well into available potential and create a platform for long-term expansion. This report analyses industry dynamics and the consumer landscape, including product features sought by consumers, as well as growth drivers, pricing, and innovation strategies.
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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.
With unmet potential of over USD124 billion in incremental sales, long-term expectations for industry expansion remains strong. However, vast low-income consumer bases, changes in consumer shopping habits, and evolving retail environments will continue to put margins at risk, resulting in the need for market-specific strategies and better understanding of premium and value consumers.
With GDP and price among the key components of growth, understanding income disparities, trends in affluence, and spending priorities across markets is crucial. With rising incomes, consumers start rationalising their spending patterns, with saving and aspirational purchases usually taking the lead over household essentials.
Each market always has a segment of consumers willing to pay more for household essentials. However, the willingness to spend more is predicated on the products providing specific tangible benefits to consumers. Preferred product features vary from market to market, and product development and marketing need to consider these differences to appeal successfully to consumers.
Affordability will remain one of the key features of the evolving marketplace. While putting pressure on margins, innovation in quality affordable products allows to tap better into unmet potential, build consumer awareness and loyalty, increase consumption and set the stage for product trade-ups in the long term.
With significant growth in some of the developing markets and strong presence in developed regions, private label continues to present opportunities for investment and growth. However, as the example of North America versus Western Europe shows, it requires a realistic picture of the extent of future opportunities.
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.