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Indian millennials are spending more on healthy food options
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Thursday, 21 July, 2022, 13 : 00 PM [IST]
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Our Bureau, Mumbai
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With Covid-19 affecting lifestyles for over two years now, it follows that health has become a higher priority for many consumers, including millennials. According to new Mintel research, 43% of Indian millennials are spending more on healthy food/snack options. In addition, they are maintaining a high level of spending on activewear and accessories (41%) and in-home gym equipment (36%). Spending increases for older millennials across these two categories.
Saptarshi Banerjee, Senior Lifestyle Research Analyst, Mintel Reports India, said: “Millennials today make choices like eating healthy foods or exercising to feel better and reduce stress and anxiety. The emphasis on health is no longer limited to a single objective, implying that looking after both physical and mental health is a multifaceted endeavour.
“Given millennials’ interest in holistic health, this creates an opportunity for food and drinks brands to appeal to the newly health-engaged consumers through fortifying products with vitamins and minerals, considering that only 12% of food and drink and healthcare launches in APAC over the last three years** have functional health claims.”
Rising stress levels among millennials call for a focus on mental health
The Mintel Trend Slow It All Down has examined how burnout and overwork have impacted consumers due to long hours and pressures at home and work. Furthermore, Mintel Global Consumer research finds that 41% ?of Indians aged 25-34 find their day-to-day life very stressful compared to just 22% of those aged 18-24. This has increased the demand for products and services catering to mental wellbeing, especially for those early on in their careers.
“Workplace stress levels are closely related to age, with older millennials aged 32-40 seeing stress and anxiety as motivators to live a healthy lifestyle. This demographic is naturally concerned about their career success and financial wellbeing.
“Despite the growing issue of stress and burnout, products and services for emotional and mental wellbeing are not widely available to the general public. Brands can promote societal discussions about mental health by developing campaigns or platforms that allow consumers to assess their mental health and can assist consumers by providing opportunities for them to unwind and enjoy some ‘me’ time,” Banerjee said.
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