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Processed food industry

Playbook for Success in the Modern Food and Beverage Industry

The total revenue of the global food and beverage industry is skyrocketing with each passing year. Although the quality of products or service plays a significant role in the survival of food and beverage companies, this no longer remains the only ingredient for success in the food and beverage industry. With the ever-changing market trends and the growing need to satisfy changing consumer demands, companies in the sector must be on their toes to grasp new food and beverage industry trends. It is also important for businesses in the sector to identify ways to leverage maximum benefits from the market opportunities. Based on our discussions with several prominent food and beverage companies from different regions, here are some key takeaways on how the food and beverage industry is changing and what companies in this sector must do to thrive.

With consumer demands and preferences changing rapidly, it’s time for food and beverage companies to take a fresh look at their strategies to better connect with target consumers. Request a free proposal to know how we can help you achieve this.

Trends disrupting the food and beverage industry

Catering to a new group of shoppers

The old rules of the CPG no longer work with the new-age shoppers. Millennials and Gen Z consumers are inclined to brands that fit their lifestyle. This group of consumers are known to shy away from manufactured marketing of traditional food and beverage industry products. They favor ‘real ingredients’ and expect labels to be clear and easily understandable. Moreover, the internet has brought about drastic changes to customer expectations not only online but also in the store. Younger consumers want to be able to order ahead, pay, and capture loyalty rewards, all by using their phones. Catering effectively to this new group of consumers should be a major milestone for companies in the food and beverage industry.

Direct to consumer channels for launching new products

New players in the food and beverage industry often start out by selling directly to consumers, mostly using online channels. Direct to consumer brands are often more successful in capturing deep data on their target consumers which can be further used to deliver personalized consumer experience, refine product strategy, and build long-term customer relationships. By selling directly, players in the food and beverage industry can also experiment with new business models. Furthermore, when these brands plan to move to brick and mortar, it can dramatically enhance their chance of success.

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Focus on smart growth

With so many brands in the food and beverage industry and ample choice available to consumers, retailers are often quick to pull the chord on products that fail to deliver quick sales or even attract new customers. When launching a new product in the food and beverage industry, it is always better to start small in order to be able to manage the complexities of retail distribution. Brands that focus on expanding too rapidly could run into crippling cashflows or may even face critical manufacturing or supply chain problems. Also, increased focus must be given to communicating stories at the shelf via packaging, promotions, shelf-edge marketing, and the other tried and tested tools of retail marketing.

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6 Trends That Will Keep the Dairy Industry Moo-ving in 2018

Consumer inclination towards a healthy lifestyle has turned tables for the dairy industry. This overnight stardom has also prompted players in the dairy foods market to innovate heavily in their offerings. Moreover, understanding consumers’ attitudes and values can help companies to develop the right dairy products and then market them in ways that strike a chord with the target consumers. Although the dairy industry is likely to face flak from vegans and others who seek to cut down on dairy consumption, current market trends clearly depict that there no looking back for the dairy industry. Here are some trends in the dairy foods market that will make it big this year:Request Proposal

Environment-friendly nutrition

One of the main areas of focus today for companies in the dairy industry is to provide sustainable nutrition to people, which is healthy food produced in an environment-friendly manner. This is done as a powerful guiding principle to gain a better understanding and act on the connections between agriculture, food, nutrition, health, and environment. This practice is essential in accelerating progress towards a sustainable food system.

Clean label products

Clean labels have become the ‘new supreme’ for dairy products. Clean label products are those that do not contain any additives, artificial preservatives, or chemicals. This trend has become so popular in the dairy industry that it has now turned from a ‘fad’ to a ‘necessity’. The big fishes in the dairy foods market have already made clean labels a way of life. This year, several other players in the market are expected to follow suit. It will help companies in the dairy industry to increase consumer trust and mitigate brand risk.

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