ISM/ProSweets Review: Innova Market Insights
“I noticed a strong focus on the gaming space, with companies creating products specifi cally designed for gamers. One
interesting example was Tetris- shaped gummy bears tailored to the gaming community, incorporating elements
like bite-sized formats for convenience”
in food and beverage products. However, nuances exist based on factors such as fl avour preferences, homeownership responsibilities, and an emphasis on naturalness. It’s crucial to consider the target consumer’s country and context to delve deeper into these dynamics. Notably, younger consumers, particularly Gen Z, are playing a signifi cant role in shaping market offerings, as seen in previous trends such as the infl uence of social media infl uencers and the growing voice of the consumer. Companies are adopting various strategies to engage with consumers, ranging from fl avour innovation and product co-creation, exemplifi ed by Oreo’s consumer-driven fl avour suggestions, to embodying and championing specifi c values, such as Tony’s Chocolonely’s commitment to slave-free chocolate. These approaches align with the broader concept of value, where companies create meaning and resonate with consumers by addressing their values and aspirations.”
Trend 4: Plant-Based: Unlocking A New Narrative “The next trend we’ll explore is the rise of plant-based products, which extends beyond the confectionery industry to include meat and dairy alternatives. While the market for meat alternatives has become saturated with innovative products, the plant-based trend is expected to endure. Consumers express the importance of improved fl avour, texture, and the uniqueness of plant- based products that stand on their own, rather than merely mimicking conventional items. However, when consumers are hesitant to purchase plant-based products, it is often due to concerns about taste, texture, price, value for money, and levels of processing. Naturalness remains a signifi cant factor for consumers, making highly processed products with artifi cial ingredients less appealing. Notable examples of successful plant- based products include Fully Charged’s mini muffi ns, known for their simple, clean ingredients and dairy-free formulation. On the other hand, affordability remains a challenge, as plant- based options often carry higher price tags compared to their conventional counterparts. This issue is exemplifi ed by IKEA’s introduction of vegan hotdogs priced at the same or even lower than their meat-based alternatives, addressing the barrier of cost and providing consumers with more accessible plant-based
KennedysConfection.com
options during times of economic uncertainty, such as rising prices and infl ation.”
Trend 5: Farming The Future “Moving on to Trend number fi ve, ‘Farming the Future’ we delve into the realm of new farming systems that not only enhance sustainability but also improve product quality, thereby reigniting consumer interest in food sources. One notable strategy within this trend is regenerative agriculture, which I discovered through the thought-provoking Netfl ix documentary titled “Soil.” This farming approach extends beyond traditional associations with meat producers and fi nds its application in diverse products like nut butter-stuffed sandwich cookies, where wheat is cultivated using regenerative practices. It’s fascinating to witness how this trend transcends various industries. Ingredient companies are also exploring innovative technologies to boost farming effi ciency and effectiveness. A captivating example is AeroFarms, known for its vertical farming system that cultivates vibrant microgreens locally. The advantage of such localised production resonates with consumers who prioritise locally grown food. This emphasis on farming practices has become increasingly apparent in supermarkets, where product labels often highlight the method of sourcing and farming. Consumers’ preference for products derived from innovative farming practices is driven by their desire for natural, organic options that benefi t both their health and the planet.”
Trend 6: Quick Quality “The next trend to explore is ‘Quick Quality’ which has gained prominence in recent times. During the pandemic, with more time spent at home, consumers had the opportunity to experiment with cooking and baking, often sharing their trials and errors on social media. This period also allowed individuals to enhance their culinary skills and develop a deeper appreciation for food quality. Additionally, since dining out became less feasible, some consumers indulged in ordering food from high-end restaurants for a taste of premium cuisine that they wouldn’t typically experience frequently. As consumers return to their busy lifestyles, maintaining that level of quality
Kennedy’s Confection May 2023 17
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