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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.

Gain competitive intelligence about market leaders, track key industry trends, opportunities and threats with our advanced market intelligence solutions. Get in touch with our experts for more insights on our solutions.

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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Food and Beverage Industry Trends

Vegan Food retailer gained 40% growth in sales using Custom market research

As veganism witnesses rapid rise across the world, the demand for vegan food products is booming. In the US alone, the demand for plant-based food has grown over 25% over the past year. Amidst these market transformations, several vegan food retailers often find it difficult to strike a supply-demand balance. Furthermore, the rising competition in the vegan food industry is posing severe challenges for players in the sector to keep the target customers hooked on to their brands. Our experts in the food industry believe that the vegan food market is one of the most lucrative and high-growth segments in the food sector. Businesses that incorporate competent strategies at the right time are bound to save themselves from being crushed by competitors.

Companies often invest countless hours and millions of dollars into strategies that fail to strike a chord with the target consumers. Request a free proposal to learn how we can help your business convert data into dollars with our custom market intelligence solutions.

Business challenge

A leading Vegan food company based out of Central America witnessed stagnating growth and increasing losses at most outlets. Furthermore, due to the company’s saturated network and weak value proposition, growth from new store openings or entering new geographies was an unviable option. With Infiniti’s custom market research solution, they wanted to identify changes that they could incorporate in their current operations in order to promote more sales and enhance growth. The vegan food company was also facing increasing challenges from aggressive new entrants that threatened their market position.

The vegan food company approached experts at Infiniti to help establish a clearer consumer value proposition and restore their performance.

Solution offered

To explore potential solutions to the challenges faced, experts at Infiniti worked closely with the vegan food retailer on comprehensive research and insight generation. The custom market research included:

  • An analysis of the potential limiting factors of the vegan food retailer, including their overall cost structure, operational challenges, and the strengths and weaknesses of their key competitors.
  • A brand health assessment to uncover the client’s true brand image in the market. This data was attained through consumer focus groups, employee interviews, and shop-along sessions at the clients as well as the competitor retail outlets to gain a deeper understanding of shopper behavior.
  • Customer intelligence solution to identify promising consumer segments for vegan food products. Our experts also conducted an operational risk analysis to evaluate the viability of new store formats, including Capex needs, gross margins, and operating costs.

The rising competition in the lucrative vegan food market necessitates companies in the sector to be agile innovators in order to thrive. Not sure how you can measure up to customer expectations? Get in touch with our experts for more insights on the changing market trends and how you can adapt.

Business impact

By building on the data gathered through Infiniti’s custom market research solution, the vegan food retailer was able to pilot and define new store concepts with clear and well-targeted customer value propositions. This included redesigning the retailer’s commercial offer and incorporating relevant outlet features such as store design and service levels. The new store format helped the client to capture greater value from customers and enhance sales by 40% within 7 months.

With over 15 years of experience in helping global giants strategize for overcoming critical business challenges, our experts can help you to devise the right solution to combat upheavals in the market. Request for more information on Infiniti’s services.

Industry Risk Assessment for a Leading Vegan Food Online Distributor

The continued proliferation of vegan food-related business stories and developments that have occurred during the past year demonstrate that this movement is just getting started in making its mark. Click To Tweet

2016 was an unforgettable year for many since that year was hailed as the year of veganism. Though many still see veganism, i.e., the abstinence from the use of animal and dairy products, as an extreme cultural practice. Its growing popularity is a clear indicator that the consumption of vegan food products is no longer a marginalized social movement. Vegan food products, although a niche market segment, is growingly rapidly due to the widespread adoption of veganism throughout the world. Its contribution to the ecological footprint and abstinence from animal cruelty are other factors for the rise in consumption of vegan food products.Request Proposal

The Business Challenge

  • The Client: A vegan food online distributor

A leading vegan food online distributor specializing in import/export and distribution of vegan food products in the U.S wanted to understand the relative risks in the industry. To implement an effective procedure for assessing the risks the client approached Infiniti Research. They were looking at leveraging our expertise in industry risk assessment to analyze market risks and maximize savings by being proactive rather than being reactive.

Industry Risk Assessment Benefits

Risk assessments offer a clear understanding of where a company stands considering the current global scenario and the factors affecting the market. Though this process seems to be tedious, or sometimes tyrannical, it helps companies gauge risks and make necessary adjustments to their business strategies. However, in the vegan food products segment, this is now turning out to be a necessity.

Summary of Our Industry Risk Assessment Engagement

Vegan food

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Client’s Journey

The market experts at Infiniti Research adopted a comprehensive approach to identify and analyze the risks in the vegan food market. It included a detailed analysis of factors affecting market growth and its impact on business strategies.

The industry risk assessment study included in-depth primary and secondary research coupled with qualitative and quantitative data collection procedures. The risks assessment experts also took inputs from various stakeholders in the vegan food market.

Solution Benefits and the Business Impact

This study enabled the vegan food online distributor to implement a robust risk management system to identify market risks. The comprehensive analysis of the risks from the point of view of our specialists helped leverage their industry expertise and draw a conclusion from vast datasets to mitigate risks.Get More Info

The solutions offered also enabled the vegan food online distributor to gain detailed insights into the potential risks in market expansion. This, in turn, helped them alter business strategies and expand their business units to enhance reach.

The Future of Vegan Food Products Segment

With the increasing complexities of the global vegan food products segment, leading organizations are finding it hard to scale up in terms of sustainability. Due to many such factors, capital expenditure plans are torpedoed and insightful business strategies are being ignored across sectors. However, to set precise business plans and act accordingly, it is essential to assess the risk in the industry that has the potential to destroy their business goals.

A must-read case study for companies looking to develop an understanding of the importance of risk assessment in the vegan food products segment.

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New Food Trends That Will Change the Way the Food Industry Works

Food holds a special place in our lives. It is a part of who we are and operates as a medium to express our cultural identity. 2017 was a curious year when it came to new food trends going mainstream. From huge soup dumplings and Buddha bowls to cones with chicken waffles, there were plenty of new things to give your taste buds a new experience. Every new year, we promise ourselves that we’re going to try some new food, right? And if you’re wondering what new food trends are taking restaurants by storm this year, don’t worry we got you! We’ve analyzed all the latest innovations and developments in the food industry to determine what you’re going to want this year – and the best part is, you don’t have to run all the way to exotic stores to enjoy them.

New Food Trends 2018Get more info

healthcare market research

Top 7 Vegan Food Trends That Are Going Mainstream

The past decade has witnessed a rise in the ‘veganism’ fad among people. Consequently, there has been an explosion of new vegan food trends, ingredients and innovative recipes in the market. Today, vegan food has moved away from being tagged as ‘boring’ to more delicious options.  One trip to the market or a retail store is enough to understand the progress that plant-based eating has made, as last year’s vegan food trends have become grocery-store staples now. As consumers are becoming more mindful of the products they put in their bodies and of the environmental impact they have, manufacturers have started becoming more conscious while catering to these needs. For instance, big brand names like Ben & Jerry’s, Breyers, Häagen-Dazs, and Halo Top have introduced vegan flavors recently. Here are our top picks of the vegan food trends that mean good news for our plates and taste buds this year:Request Proposal

  • Meat alternatives

Cruelty-free meat alternatives is one of the vegan food trends that has been going mainstream in recent times. Recently, there has been a huge rise in innovative plant-based options, including lab-grown meat made from cultured animal cells. Last year, we witnessed an increase in the popularity of meatless burgers such as those from Impossible Foods and Beyond Meat. And now they’re becoming available at restaurants and grocery stores across the nation.

  • ‘Black food’ trend

Activated charcoal is one of the most innovative and healthy vegan food trends doing the rounds today. They are known for being able to draw toxins from the body and help with your well-being. Activated charcoal also lowers cholesterol and supports digestive health. Vegan food companies have introduced food trends like charcoal ice-cream and water that are becoming highly popular among the vegan population.

  • Full-fat everything

Fat is back in trend. Vegan food products that are high in fat content, such as avocados, coconut, nuts, and seeds instead of processed, are becoming favorites among people. These vegan food products ensure that consumers intake healthy fats, which are not harmful to their body.

  • Vegan desserts

Giving up on desserts and other tasty foods are one thing that gives people second thoughts about going vegan. But not anymore.  As more people realize that desserts can be awesome without animal products, they have begun to find substitutes for eggs and dairy in their sweet treats. This year, we are guaranteed to see a revolution in the field of vegan desserts. You can expect vegan donuts glazed with maple syrup, vanilla icing or filled with delicious jam, and many more.

  • Edible flowers

Edible flowers were used, in the past, only for pretentious dishes in Michelin-starred restaurants. But edible flowers have now become one of the most popular vegan food trends among food addicts. Vegan food companies have started to incorporate such flowers in dishes prepared, thanks to vegan foodies showcasing beautifully floral dishes on social media platforms like Instagram and Pinterest. The most popular choices of flowers in vegan food include pansies, carnations, and nasturtiums.

To know more about the vegan food trends and challenges facing vegan food manufacturers

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