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 moreMay 2013
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As spend on Packaged Food and Beverages grows around the world, so too do the opportunities for value added ingredients that play a part in driving demand. The Ingredient Curve measures the evolution of this demand as per capita spending increases, and also suggests that there comes a time when quite simply people want more food in their food. Opportunities exist for ingredients that meet the needs of an increasingly demanding consumer for who function has to be allied to naturalness.
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Mapping the use of added value ingredients against per capita spending on retail packaged food and beverage, a strong correlation emerges - higher spend means greater demand for added value ingredients.
At least that’s true until such time per capita spending exceeds US$1,500, when the proportion of added value ingredients in our packaged food and drink flat lines, and even declines. At the same time, sales of naturally healthy food can be seen to grow. This suggests there comes a time when worldly wise consumers want more food in their food.
The position of a country on the curve suggests the type of opportunity it offers ingredient players, who themselves are looking to move out of commodity style ingredients into higher value propositions.
Ingredient companies need access to future growth markets that their own customers are entering. Here there is a need for all types of ingredients as consumers start to buy increasing amounts of processed food and beverages.
Moving along the curve, as spending grows and basic calorific needs have been met, awareness of the benefits of added value ingredients becomes more prevalent. We expect uptake of these ingredients to be fast tracked as consumers’ aspirations are quickly met.
In the most sophisticated markets, even as consumers coalesce around the trend for ‘natural’, opportunities exist for ingredient companies that can support clean label claims and the growing demand for ‘enhanced’ natural products.
There’s an imperative for ingredient companies to innovate to meet the needs of increasingly demanding food and beverage manufacturers chasing cost optimisation, who in turn are trying to satisfy the needs of consumers with complex and diverse demands of their own.
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.