Understanding consumer trends can make or break any business, and in the fast moving consumable goods sector, having your finger on the pulse is requisite. Recent shifts in buying behaviour are echoing around the world, and major food and beverage companies are also responding. Export is a logical strategy for products following this trend, as consumers continue to align despite geographical distance – opening you up to a much broader base of ready consumers.
Millennials want smaller, healthier options
According to a recent report by The Nielsen Company, organic sales in the USA were 38% greater in households where millenials were making the major purchasing decisions. Free-from and convenience also rated highly with this customer segment, according to the 2017 report. This is supported by broader industry trends – that cruelty-free products increased in value by 30% and grass fed products by 28% in the USA. While these statistics are focused on the USA, they are reflective of a broader global shift in priorities when it comes to consumers with similar purchasing power.
They’re eating for happiness
The Australian Macadamia industry has discovered another motivation for this trend toward healthy eating. Through a major study of buying behaviour and psychology currently underway, findings reveal that consumers look for high quality to increase nutritional content to support a healthy mood.
Large companies making the most of it
Major companies are taking heed of these trends and making the most of it. Household names such as Chobani, Tip Top and Coke have made strategic moves to offer healthier options.
Dairy brand Chobani this year released 140-170g pots and pouches of high-protein, no added sugar yoghurts. With a range of 4-6 flavours in each format, sweetened with stevia, Chobani is taking heed of consumers’ need for convenience, health, and smaller package sizes voiced by their consumers.
Tip Top Foodservice’s Abbott’s Village Bakery has developed a new range of gluten-free breads for the foodservice sector to cater for the 12.1 per cent of Australians who aren’t eating wheat or gluten (CSIRO, 2016) but for whom 65% of coeliacs decide where a group will eat out (Coeliac Australia). The range is free from dairy and artificial colours, flavours and preservatives as well.
With kombucha the fastest-growing beverage category in Australia, The Coca-Cola Company isn’t taking any chances. This is the first time that Coca-Cola has acquired full ownership of a brand in this category. Organic & Raw Trading Co, an Australian kombucha company, was founded in 2010, and since then the Adelaide company has grown quickly to sell its MOJO beverage range at Woolworths and IGA. The acquisition was a multimillion-dollar deal; and will likely drive increased interest in the fermented tea.
Got a product?
If you’ve got a product the world would want to consume, or if you’re curious and open to adapting, reach out. We’d love to chat with you about how to succeed on the global stage; and help you to select the right markets, connect with international buyers and execute an effective growth strategy.
References:
Millennials want smaller, healthier options:
They’re eating for health and also for happiness:
Large companies making the most of it:
Photo by Brooke Lark on Unsplash
