This whitepaper highlights consumer segmentation, mindful consumption and plant-based eating as the three key themes currently shaping new product developments in food and nutrition.
According to Euromonitor International, the global food and nutrition industry grew by 1.6 percent in 2013 to 2018 and keeps growing, with Asia Pacific and Middle East and Africa ranking top in the regions with the best outlook in packaged food sales, expected to grow 4 percent and 3.7 percent respectively by 2023.
This constant growth in the global food and nutrition industry requires regular strategy adaptation from companies in order to meet consumer demand. «In view of the evolving trends manufacturers need to span their product offerings from indulgent to nutritious to reach consumers with wide-ranging needs and in expectation of a sensory experience», states Katharina Bagul, industry manager at Euromonitor International.
New and niche ingredients provide producers the means to innovate and offer opportunities for a healthy product positioning. «The meat-free space saw the most interesting developments with meat analogues being the game changer in 2019. In terms of alternative proteins, the future will tell if edible insects and lab-cultured meat will be able to achieve a breakthrough and acceptance by a wider consumer base,» explains Katharina Bagul.