Packaged Food 2010 - Part 2: Global Market Performance29 Nov 2010 • by Natalie Aster
London – “Despite continued economic jitters, not least as many European markets are now facing significant public spending cuts and the USA continues to struggle with 10% unemployment, a double-dip recession is looking increasingly unlikely. To stave off the constraining effects of economic uncertainty in increasingly mature developed packaged food markets, aggressive and sustained expansion into emerging markets, especially Asia Pacific, will be essential to future success.”
Detailed market research report “Packaged Food 2010 - Part 2: Global Market Performance” has been recently published by Euromonitor International. The report begins by examining the present state of the health and wellness trend in global packaged food. Given increasing levels of regulatory and consumer scrutiny, particularly for functional food, many manufacturers with a health and wellness positioning are having to re-evaluate their product development and marketing strategies. While rumours of the ‘demise’ of health and wellness remain unfounded, significant changes may be in store. Retailer consolidation – and its impact on packaged food sales – will also be examined, as it relates to developed and developing markets alike. The impact of retail consolidation on private label development will be examined in the process, as will the consequences of retailing regulations in key emerging markets such as India and Russia.
Published: November 2010
Price: USD 2,000
Report Sample Abstract:
- Commodity prices are once again facing the spectre of volatility, which will put pressure on manufacturers and the broader supply chain. However, a repeat of the rapid food price inflation seen from mid-2007 to mid-2008 remains unlikely.
- Nevertheless, manufacturers that anticipate any increases to commodity costs will be in a stronger position, especially as cost savings and effective supply chain management become more important in the face of mounting retailer consolidation.
- Packaged food manufacturers will increase investment in new product developments in light of better economic prospects, particularly in fast-growing regions such as Asia Pacific. Innovation will also remain crucial to staving off private label encroachment.
- Manufacturers must become bolder and even more compelling in adding value to their new product launches, while resisting the temptation to retreat into a single-minded value-for-money proposition as they try to compete against private label.
- Even though economic prospects are gradually improving, there is no guarantee that consumers, especially those in developed markets, will return en masse to branded products, especially now that private label has become more adept at adding value.
- Private label encroachment looks here to stay, so if you can’t beat them, join them. Food manufacturers should explore opportunities to split production between added- value brands on the one hand and more commodified private label on the other.
More information can be found in the report “Packaged Food 2010 - Part 2: Global Market Performance” by Euromonitor International.
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