Convenience Store Food Service Consultant- Dean Dirks: News, Articles, Events

November 30, 2009

Future Convenience Food And Drinks: New Opportunities in a Developed Market

Notes from webinar I lead in October.

Business Intelligence for the Consumer Goods Industry

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The strength of our consumer goods research and analysis is derived from access to unparalleled databases and libraries of information and the use of proprietary analytic techniques. Business Insights reports are authored by independent experts and contain findings garnered from dedicated primary research. Our authors’ leading positions secure them access to interview key executives and to establish which issues will be of greatest strategic significance for the industry.

Our consumer goods portfolio of reports can be used across a wide range of business functions to assess market conditions and devise future strategies and cover the food and drinks, ingredients, packaging, health, toiletries and cosmetics categories and key consumer issues including eRetail and marketing.

Key issues examined by this report

• Ethical packaging. Green packaging is a primary concern for the food and drinks industry. Using less packaging will become a key focus over the next five years, and this is especially important for convenience products that rely heavily on packaging benefits such as multi-packs, compartment packaging and portioning.
• Health concerns. Health is an increasingly important driver of convenient products, and marketing is becoming multi-faceted with the evolution of food and drink offering more advanced health benefits such as weight control and other specific health concerns.
• Emerging markets. Growth in regions such as Asia-Pacific and Latin America is acting to boost overall sales of dried, instant and wet ambient convenient products. These have shown increasing signs of maturity in Western markets where demand has tended to move into fresher convenient products.
Convenience continues to be a key trend in food and drinks, with consumers increasingly looking for products that suit their lifestyle requirements. The extent of the development of convenient products is signaled by the notion that consumers are coming to view various convenience benefits as the norm. Adding value in terms of convenience is increasingly linked to providing further benefits, combining saving time and effort with additional aspects of food and drink marketing. These include providing health, freshness, taste, versatility and ethical benefits, and marketing products that suit particular consumer needs such as on-the-go convenience and products for children.

Future Convenience Food and Drinks is a new report published by Business Insights that provides insight into the direction of the convenient food and drinks market and how the sector will develop over the next five years. This report analyzes current and future trends that are set to impact significantly on the marketing, formulation and packaging of convenience food and drinks.

Discover future growth opportunities in the convenience food and drinks market with this new report

This new report will enable you to:
• Identify future growth opportunities in a developed sector, using this reports analysis of sales of convenience food and drinks in emerging markets to 2011.
• Gain insight into industry opinions on the convenience food and drinks market over the next 5 years through an exclusive survey of industry executives undertaken by Business Insights.
• Improve the targeting and effectiveness of your NPD strategies with this report’s analysis of convenience benefits, product categories and regional trends based on analysis of Productscan data of 35,000 convenient food and drinks products launched globally between 2005 and 2008.
• Predict future convenience food and drink market size and growth levels, using this report’s forecasts to 2011, including category specific analysis, in Europe and the US.

Your questions answered:
• How are different convenient food formats developing and which products will provide growth?
• What innovations are driving new opportunities in convenience food and drinks NPD?
• Which region will experience the most growth in convenience food and drinks to 2011?
• Who are the most innovative convenience food and drinks manufacturers?
• How does the industry expect the marketing of convenience food and drinks to change over the next 5 years?

Some key findings from this report:
• The convenience food and drinks market is worth $158bn in Asia-Pacific and is expected to grow at a CAGR of 3.9% to 2011. Latin America and the Middle East and Africa are set to grow at a faster rate, but these regions hold a collective share of less than 13% of global sales.
• A growing share of 40% of new convenient products launched globally in 2008 feature benefits relating to speed of preparation, compared to shares of 30% for single serving products and 15% for fresh convenience.
• Expenditure on convenient products peaks in Sweden at over $700 per capita, and is over $400 in the US. Per capita spend in all other regions is less than a quarter than that of the average for Western Europe and North America, but the gap is expected to narrow steadily.
• The number of dinners prepared from scratch at home is highest in France and Spain but is falling fast. The level of cooking from scratch is lowest in the US but the trend away from this appears to be slowing.

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