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[Market Trend] Understand your customers more – Global food and drink trend


 

Mintel report reveals the critical factors influencing the beverage and food trend. We summarize the key points for you to catch up the trend fastly and easily. See how these trends can turn into your business opportunity!

 

In Tradition We Trust: 

The fast-paced change and uncertainty of current political environment strengthen people’s desire for safety products that are recognizable rather than revolutionary. The trust in tradition does not mean a whole replacement of innovation; instead, it emphasizes the opportunity of looking to the past as inspiration for new idea generation. Embracing the tradition while expanding its diversity create familiar connection to customers – something new and classic, such as cold-brew coffee.

Trial and error of new formulations, flavours and formats could be frustrating, increasing the risk of investment and return. Brands can take the advantage of the interest in tradition through marketing, specifically linking with the past to encourage the trust among customers.

 

Power To The Plants:

The preference of natural, healthier, simple diets will drive the expansion of vegetarian, vegan and plant-focused formulations. In response, manufacturer twist their focus on promoting plants-centric formulations, flavours and fortification that can be added to drink and food products. According to Mintel database, 25% increase in vegetarian claims and a 257% rise in vegan claims in global food and drink launches are reported between September 2010 - August 2011 and September 2015 - August 2016.

Powder to plants builds on the preferences for flexible approaches to diet and the nutrients that plants provide in association with people’s growing awareness of plants’ benefits. Meanwhile, technology will play a part, company might use artificial intelligence to develop plant-based alternatives to animal products including milk, mayonnaise, yogurt and cheese.

 

Waste Not

Roughly one third, or approximately 1.3 billion tonnes, of the food produced for global human consumption is lost or wasted, according to the Food and Agricultural Organization of the United Nations. Consumer awareness of the issue of food waste is also spreading because of efforts by retailers and restaurants to reduce or donate food and drink that is past the sell-by date, blemished or damaged.

In addition to changing attitudes toward food waste, packaging can make a difference by innovating package design to keep food fresher for longer. Also, there is an opportunity to innovate with materials that would otherwise have been discarded. Not all waste has to be edible in order to be useful: production waste can have an advantageous afterlife as compost, material for plant-based packaging or power sources for hospitals and homes.

 

Time Is Of The Essence:

Time is an increasingly precious resource and our multitasking lifestyles are propelling a need for shortcut solutions that are still fresh, nutritious and customizable. Already, the hectic pace of modern life has fueled the evolution of snacking and other on-the-go products. However, food and drink does not always have to be ‘fast’. Instead, many consumers are seeking balance, which has led to products that have ‘slow’ claims, such as slow-roasted or promising slow-release energy.

The priority for food, drink and retail solutions that save time will be to call on companies to make explicit time-related claims. Rather than general promises of products that are “fast” or “slow”, the expectation for efficiency will lead to specific claims, such as fresh produce delivered in less than an hour.

 

Balancing The Scales: Health For Everyone:

Healthy food and drink are not “luxuries”. Inequality is not just a political or philanthropic issue - it also will resonate more with the food and drink industry.  Access to - and the cost of - healthy food and drink often impede lower income consumers from purchasing healthy items. The need to address inequality in healthy products will persist. In the next few years, more solutions including campaigns and innovations are needed to provide affordable options to everyone who is hoping to improve their diets and lifestyles.

 

The Night Shift:

As the global workforce grows and technological advances make it harder for people to ‘clock out’, more people are in need of products that provide comfort and relaxation. Yet, the increasingly hectic pace of modern life is creating a market for night-time products that help people of all ages calm down before bedtime, sleep better and restore the body while they rest. With so many people seeking functional food and drink, night-focused innovations can go beyond herbal teas and be more plentiful and innovative, such as cereal helping with digestion, yogurt snack helping athletes recover while they sleep, juice with Melatonin in designed for night-time consumption and products avoiding middle-of-the-night food cravings with formulations that keep consumers full until morning.

 

 

Source: Mintel Reports

 

 


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