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Dependence on ready meals increasing; Health-consciousness on rise too
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Friday, 02 December, 2016, 08 : 00 AM [IST]
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Busy lifestyles, rapid urbanisation and increase in disposable incomes has made consumers depend on ready meals, but at the same time, they have become health-conscious too.
Health and wellness is a macro-indicator today, as was stated by Ken Research in its report titled Top Trends in Snacks, Confectionery and Desserts: Exploring consumer and innovation trends in key categories.
It discussed detailed analysis of confectionery, leading players, distribution channels and consumer trends and shed light on how the existing players can use this information to capture major share in the market. Additionally, major trends and drivers were covered, describing the market penetration and future potential of each product segment.
To meet the rising demand of consumers for healthy meals, manufacturers are innovating themselves with all the flavours. We can see such innovations in the chocolate industry. In China, chocolates have been launched with vegetables as ingredients. Manufacturers have gone beyond orange in citrus fruits and are trying different flavours.
Many unusual fruits are added to chocolates these days. Cereals like granola and muesli are added to chocolatesto add texture and to meet the consumers’ demand for healthy products. Consumers’ demand for new and interesting flavours can be challenging for manufacturers, but it can be considered as an opportunity for them.
By developing innovative and unique products, they can capture a huge market share and this uniqueness of the product or flavour will help manufacturer gain a competitive edge in the market. This unique flavour can differentiate a product from the competition.
There is a rising demand for fruits and vegetable ingredients by health-conscious consumers. The high growth aspects in this market are providing opportunities for manufacturers. There are great investment opportunities to food and beverage manufacturers in Asian countries such as China, India and Japan due to economic growth in these countries.
China’s demand for chips, biscuits, cakes and pastries is growing at fast pace, and both production and demand are expected to grow in the next decade. The beverage segment is led by the European region.
Europe is the largest alcohol producer, and it accounts for one-fourth of the market share.There has been a noteworthy increase in the demand for European beer, wine, whisky and vodka, which contain food ingredients such as barley, wheatand rice. The increase in the demand is due to healthy ingredients and taste, according to a Ken Research analyst.
Some trends driving the ready meals market include:
• Changing consumer lifestyles
• Increasing demand for packaged and convenience food
• Urbanisation, increased disposable incomes and busy lifestyles are responsible for the increasing share of the ready meals market
The key topics covered in the report were as follows:
• Detailed analysis of the beverage industry globally
• Value and volume analysis for beverage industry
• Historic and forecast value analysis by category
• Retail landscape and key distribution channels
• Key issues and trends in the packaging industry
• Consumer trend framework
• Analysis of mega-trends
• Profiling of new products and innovations launched in the beverage industry
• Global food and grocery retail industry
• Consumer goods sector research
• Online grocery market
• Food retail chain distribution channel
• Snack market size
• Ready-to-eat food market research
• Global frozen food industry
• Global retail industry research
• Global food sector market size
• Global food and grocery market trends
• Packaged food market revenue
• Global baby food market size
• Baby food market future outlook
• Baby food market research report
• Global cereal market size
• Packaged food market research
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