Food and Beverage Industry Overview
The past decade has been tumultuous for the food and beverage industry due to the rapidly changing consumer behavior, technological advancements, and stringent regulations. In addition, safety issues, supply chain complexities, and food packaging challenges have started coming to the forefront. Given these industry characteristics, it is becoming imperative for food and beverage companies to find new ways to achieve operational excellence. Fortunately, companies that respond proactively to these challenges can position themselves for long term success.
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The client is a food and beverage company based out of Europe. The company focused majorly on producing and supplying organic food items and health drinks.
Our client, a food and beverage company was facing immense competition from local players in Europe. Adding to its woes was the fact that the consumption of organic food was low in the European market compared to the United States. To understand how they could improve their market position in the United States, they wanted to explore lucrative opportunities in the US food and beverage market. However, they required a detailed understanding of the prevailing market dynamics, including the competitive forces, trends, risks, and challenges. They partnered with Infiniti Research to leverage their expertise in offering market intelligence solution.
Other food and beverage industry challenges the client wanted to tackle by leveraging Infiniti’s market intelligence solution were:
Food and beverage industry challenge #1: Food safety
Due to the increasing risks to both the public and a company’s reputation, food safety was becoming a major concern in the United States. In addition, product design, hazards encountered during production processes, quality control, and packaging had an impact on food safety. With Infiniti’s market intelligence solution, the client wanted to analyze factors affecting food safety in the US and understand how the top food and beverage companies tackled with this challenge.
Food and beverage industry challenge #2: Regulatory compliance
With Infiniti’s market intelligence solution, the client wanted to gain an accurate and complete overview of all applicable regulations and regulatory requirements in the US food and beverage industry.
Food and beverage industry challenge #3: Supply chain issues
With Infiniti’s market intelligence solution, the client wanted to analyze all the vulnerabilities and risks in the supply chain. Additionally, they wanted to identify the right partners to support them in transportation needs.
Food and beverage industry challenge #4: Food packaging
As packaging highly influenced a customer’s buying decision, American food and beverage companies had to focus on adopting innovative and safe packaging alternatives. Therefore, before entering the US, they wanted to understand trends and innovations in food packaging.
To learn more about how our market intelligence solution can help companies deal with the rising industry challenges, contact us!
Initially, our experts conducted US food and beverage industry analysis. This involved analyzing trends in food and beverage industry, understanding emerging regulations, assessing the local market, and identifying the right scale of opportunities in the US food and beverage industry.
As a part of the market intelligence engagement, our experts also conducted a risk assessment study, which helped the client to understand current and potential risks in the US food and beverage industry, in terms of supply chain and food safety.
Furthermore, by conducting a customer needs assessment study, our experts helped the client to understand the needs and demands of customers regarding organic food products. Additionally, our experts helped the client to understand trends and innovations in food packaging materials. Also, the client was able to thoroughly understand the business strategies of their key competitors and evaluate US food and beverage industry growth rate for the next five years.
The insights obtained from Infiniti’s market intelligence solution helped the company to thoroughly understand the US food and beverage industry, including the competitive forces, trends, risks, and challenges. Also, the client was able to understand the untapped opportunities in the market. Our experts also assisted the company in the food and beverage industry in devising a sound go-to-market entry plan.
Also, the client introduced several new products and health drinks in the market by considering the needs and demands of American consumers. In addition, their innovative and sustainable packaging alternatives helped them capture huge traction in the US food and beverage industry. Their products achieved huge success in the US food and beverage industry. Within two years of entering the new market, they were able to realize savings of over $3.2 million.
Are you facing difficulties in dealing with rising market competition and adapting to the fast-evolving marketplace? Our market intelligence solution can help. Request for more info!