Novel, green and healthy products to profit from food celebration: Analyst

The trend is flagged in a new Euromonitor report entitled ‘Top Ten Consumer Trends for 2013’.

Daphne Kasriel-Alexander, consumers editor for Euromonitor International and author of the report, said bakery and snack manufacturers will naturally stand to gain from this sentiment.

“Consumers are celebrating the delights of food, encouraged in this passion by hugely successful TV cookery shows. Affordable snacks and bakery offerings with a novel and/or green or healthy theme are perfectly placed to benefit from this trend,”​ Kasriel-Alexander told BakeryandSnacks.com.

She noted that in recent months cupcakes have attained a ‘hip status’.

Health and ethical concerns continue to be a strong underlying sentiment, she said, set to impact purchasing decisions alongside the celebration of food.

Brands must join the dialogue​

Kasriel-Alexander said that brands stand to gain in joining the dialogue on the celebration of food, particularly online through direct participation on specialist blogs, websites and social networking sites.

Well-planned crowd-sourcing strategies like flavor forums and product placement on reality TV will also boost business, she said.

“Like it or not, word of mouth has a great impact on sales and brand equity. Advertising doesn’t have the same bite as it did.”​

Local love soars​

Another consumer trend set to shape the sector in 2013 is ‘local love’, the report said.

“Local is a strong trend in two senses; in formulating to suit local tastes and local sourcing,”​ Kasriel-Alexander said.

“While consumers are still interested in global offerings, they are increasingly keen to consume goods with a local slant – influenced by the prolonged economic downturn and wish to support their compatriots, green and ethical concerns and sometimes safety concerns.”​

“Brands at the moment are playing up to their local links because of the appeal to consumers but it’s a fine line because when you are a global brand you trade on your uniqueness – you want to remain special.”​

Multigenerational living ​

The analyst also flagged multigenerational living as a factor set to shape the industry.

“Young people with clipped futures are living with parents or grandparents to save money but they are still spending on packaged foods like snacks. Buying snacks is one way of deciding their own space and it is a more affordable treat that they can indulge in,”​ Kasriel-Alexander said.

She suggested that brands should look to position products to appeal across generations because of this mushrooming living trend.