Ken Research recently published a report on, “Top Trends in Snacks, Confectionery, and Desserts; Exploring consumer and innovation trends in key categories” which discusses detailed analysis of confectionery, leading players, distribution channels and consumer trends and the report sheds light on how the existing players can use this information to capture major share in the market. Additionally, major trends and drivers have also been covered, describing the market penetration and future potential of each product segment.
Consumer’s busy lifestyle has made them dependable on ready market meals but at the same time they are health conscious too. Health and wellness is one of the macro indicators today. To meet the rising demand of consumers for healthy meals, manufactures are innovating themselves with all the flavors. We can see such innovations in chocolate industry. In china, there are chocolates launched with ingredient as vegetables and manufacturers have gone beyond orange in citrus fruits and trying different flavors. Many unusual fruits are added to chocolates these days. Also the cereals are moving into chocolates. Cereals like granola and muesli are added to chocolates to add texture and to meet the consumers demand for healthy products. Consumer’s demand for new and interesting flavors can be challenging for manufactures but it can be considered as an opportunity for them. By developing innovative and unique product, they can capture a huge market share and this uniqueness of the product or flavor help manufacturer to gain a competitive edge in the market. This unique flavor can differentiate a product from the competition.
There is huge demand for ready meals market due to consumer’s busy lifestyles, rapid urbanization and increasing disposable incomes. There is rising demand for fruits and vegetable ingredients by health conscious consumers. The high growth aspects in this market are providing opportunities for manufacturers. There are great investment opportunities to food and beverage manufacturers in Asian countries such as China, India and Japan due to economic growth in these countries.
China’s demand for confectionary (Chips, biscuits, cakes and pastries) is growing at fast pace and both production and demand is expected to grow in the next decade. Beverage segment is led by the European region. Europe is the largest alcohol producer and it accounts for one fourth of market share.There has been a noteworthy increase in the demand for European beer, Wine, Whisky and vodka which comprise of food ingredients such as barley, wheat, and rice. Increase in demand is due to healthy ingredients and taste.
Some trends driving the ready meals market include:
Key Topics Covered in the Report:
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Ankur Gupta, Head Marketing & Communications