ISM/ProSweets Review: Innova Market Insights
becomes challenging. Hence, many companies are now focusing on providing quick solutions without compromising on quality or the perception of premiumness. A prime example is Earth Nation’s ready meals, which offer a combination of speed and freshness while maintaining a gourmet touch.”
Trend 7: Devouring Digital “The trend of ‘Devouring Digital’ data is captivating and relevant in today’s world. Discussions on the metaverse and its potential impact on our lives have already begun. Although it can be challenging to fully comprehend at this stage, digitalisation is increasingly significant in various industries, including ours. Functional applications of digital technology have emerged, such as Gatorade’s smart bottle, which enables users to monitor their hydration levels and ensure they meet their daily goals. Personally, I rely on similar tools throughout the day to stay hydrated. These functional solutions help consumers track their nutrient intake and achieve their desired outcomes. On the other hand, there are also entertaining digital experiences. For example, Cheetos launched Halloween-themed Chester Cheetah avatars in the metaverse, providing an interactive and engaging experience for consumers. This approach may particularly resonate with younger consumers who are avid gamers. During a recent discussion on snacking innovation, I noticed a strong focus on the gaming space, with companies creating products specifically designed for gamers. One interesting example was Tetris-shaped gummy bears tailored to the gaming community, incorporating elements like bite-sized formats for convenience.”
Trend 8: Revenge Spending
“One interesting phenomenon that has emerged is revenge spending, where consumers are willing to spend more on certain products. However, it’s important for consumers to be cautious about impulsive buying. In some cases, consumers choose to treat themselves by investing extra money in products they are genuinely interested in, particularly in the field of food and beverages post-lockdown. Limited editions present an opportunity for quick wins, with a 27% growth in food and beverage users opting for these unique offerings. The concept of limited editions appeals to consumers who seek out new
and adventurous flavours, making it an effective strategy. Additionally, consumers express a likelihood to make one- time impulse purchases when innovative flavours or tastes are involved. Japan has been particularly innovative in this regard, introducing various flavours such as melon chocolate and crisp wafers. These different types of innovations in the food and beverage sector align with consumers’ desire for novelty and contribute to their overall satisfaction and enjoyment.”
Trend 9: Unpuzzle Health “Health is a significant and complex topic that can be challenging for consumers to navigate, partly due to the abundance of labels and information available. Determining the trustworthiness of sources becomes crucial. Consumer surveys reveal that preferences for sources of determining a product’s healthiness vary by country. Notably, there is a strong growth trend for labels such as Nutri-Score in certain regions and tables in South America, illustrating the diverse landscape. Additionally, the presence of on-pack labels plays a role in helping consumers make informed decisions. These labels serve as guidance, assisting consumers in understanding what constitutes a healthy product. While the examples provided are just a few illustrations, the overall aim is to empower consumers with smarter choices regarding their health.”
Trend 10: Positively Imperfect “‘Positively imperfect’ is an intriguing concept that emphasises embracing the uniqueness and authenticity of a product. It goes beyond just conveying a message through packaging, as consumers recognise the interconnectedness between the packaging and the product itself. However, this integration poses numerous challenges. One key aspect is fostering open communication, which allows for genuine authenticity to shine through. Data can play a crucial role in exemplifying this idea. 62% of consumers globally say that they ‘feel more involvement in a brand’s journey to achieve sustainability’ when the brand communicates the challenges that they are facing on the product. Therefore, positively imperfect encompasses not only the physical packaging but also the words and overall experience associated with the product.”
18 Kennedy’s Confection May 2023
KennedysConfection.com
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