Hot Trends in Food and Drinks Innovation

Date: April 1, 2011
Pages: 147
Price:
US$ 2,875.00
Publisher: Business Insights
Report type: Strategic Report
Delivery: E-mail Delivery (PDF)
ID: H228591CD77EN
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Hot Trends in Food and Drinks Innovation
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Global License: US$ 10,785.00


Introduction

The report aims to explore key innovations and marketing strategies that will play an important part in driving the development of new products that will meet new and changing consumer demands over the next five to ten years. The report looks at regional differences in the drivers of change in consumer trends and considers the changes that need to be made to existing innovations strategies.

Features and benefits
  • Analyze key socio-economic trends such as the aging population, increasing urbanization, changing employment patterns, and concerned consumerism.
  • Understand how changing socio-economic trends will have a profound effect on how consumers choose food and drinks products and brands.
  • Gain a deeper insight into new ways of meeting changing consumer demands for premium, healthy, ethical, and convenient food and drinks.
  • Identify new ways to attract consumer attention, drive purchase uptake and increase brand loyalty.
  • Evaluate how changes in technology will affect innovations and marketing strategies and change the way consumers interact with food and drinks brands.
Highlights

The growth of innovations in and the uptake of consumer technology, and especially social media, is undoubtedly having a considerable impact on consumer behavior. But it is not enough to know that these developments are changing the innovations and marketing landscape, it is also crucial to understand the pace and scale of the changes.

The population of the world is aging, meaning that consumers over the age of 60 control an increasingly significant proportion of consumer spend. This makes seniors one of the most important consumer groups, but it is important to recognize that not all senior consumers behave in the same way or have the same needs.

Consumers’ lifestyles are changing significantly, leading to demand for products that are convenient, to help accommodate increasingly time-pressed consumers; sustainable and ethical products that cater for the growing trend towards concerned consumerism, and healthy products that respond to growing consumer interest in health and wellbeing.

Your key questions answered
  • How are consumer trends in favor of premium, ethical, healthy and convenient products affected by worldwide changes in consumer demographics?
  • How can food and drinks manufacturers ensure that their products meet changing consumer expectations of “premium” and “sustainable”?
  • What lifestyle pressures do today’s consumers face and how can food and drinks manufacturers and brand owners offer saleable solutions?
  • What are the long-term implications of the growth of the Internet and social media for food and drinks innovations and marketing strategies?
  • How is the “senior” consumer segment changing and what are the implications for the food and drinks industry?
Executive Summary
  Introduction
  Drivers of innovation
  Simple
  Smart
  Social
  Sophisticated
  Sustainable
  Senior
About the author
  Disclaimer
Introduction
  What is this report about?
    Report structure
Drivers of innovation
  Summary
  Introduction
  Socio-economic developments
    More single person households
    Migration, immigration and international travel
    Urbanization
    Emerging markets
    Consumers in developed markets
  Changing consumer preferences
    Health
    Indulgence
    Ethical
    Convenience
  Technological developments
  Legislation and regulation
  Recent history of product innovation
    Incremental vs. breakthrough R&D
    Increase in private label
  The six S’s of innovation and marketing
Simple
  Summary
  Introduction
  Competitors for consumer attention
    Lifestyle pressures such as money and aspirations for good value
    Lifestyle pressures leading to lack of time
    Aspirations for status, luxury, and fun vs. aspirations for healthy and functional
    Abundant packaging claims information
    Sales channels - online
    Sales channels – in store
  Simple strategies for attracting consumer attention
    Simple brand messages
    Simple packaging design
    Pure and natural, and back to basics
    Clear value messages
Smart
  Summary
  Introduction
    Helping consumers achieve more things in less time
  Changing relationships between brands and consumers
    Smart solutions
    Smart timing is crucial to helping brands grab more consumer attention
Social
  Summary
  Introduction
  Usage of social networking
    Networks that help people to connect online and meet offline
    Who uses social networking sites?
    Social networking sites offer access to consumer expenditure
    Targeting the right consumer group
  Strategies for using social networks
    Directly engaging with consumers via social networks
    Mavens and online recommendations
    Social networks combined with data
    Crowdsourcing
Sophisticated
  Summary
  Introduction
  Drivers for sophistication and premiumization
    The rise of consumer disposable income
    Increasing consumer knowledge and sophistication
    Concerned consumerism
    New definitions of status
  Defining premium and sophisticated
  The pros and cons of typical premiumization strategies
    “More of”, “better than”, and “masstige”
    “Super premium”
  Routes to successful premiumization strategies
    Obviously premium
    Operate in the right market in the right way
    Pick the relevant emerging consumer trends
    Be premium in the use of the media
Sustainable
  Summary
  Introduction
    Sustainability is increasingly important to consumers
  Increasing buy-in in to sustainable and ethical products
    A number of linked sustainability claims is better
  Examples of sustainability initiatives
    Sustainable packaging
    Marketing a sustainable ethos – “cause marketing”
    Whole company sustainable ethos
Senior
  Summary
  Introduction
  Time-of-life benchmarks
    Drivers of change in time-of-life benchmarks
    Changes in time-of-life benchmarks
  Reclassifying senior
  Targeting new senior consumer segments
    Fit and active seniors
    Seniors in poor health
    Young seniors
    Affluent seniors
    Second relationship seniors
    Single seniors
    Financially stretched seniors
Conclusions
  Introduction
  Simple
  Smart
  Social
  Sophisticated
  Sustainable
  Senior
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