Manufacturers gambling on the increasing influence of health
11 November 2014
A survey from market researcher Canadean finds that the industry might think some trends bigger than they actually are.
Executives predicting a growing desire for health over indulgence
Canadean’s new survey of around 100 managers working in the FMCG industry finds that when asked how important the desire for health and indulgence will be to the consumer over the next three years, 79% of executives state health will be important, whereas only 63% agree indulgence to be important.
In contrast to this, Canadean’s consumer data shows that consumers’ demand for indulgence is much greater. In 2012 consumers spent $US 600,167 million on fulfilling the desire for indulgence and luxury, whereas only $US 323,694 was spent in the same year on the desire for a healthy option. Joanne Hardman, analyst at Canadean says: “Some brands are getting it wrong with their perception of what consumers will want over the next three years. The desire for an indulgent treat will always reign supreme over the need for a health kick.”
Indulgence will continue to drive consumption in the FMCG market
Although many consumers will display a desire for healthier options, as they become more aware of the health risks and disease associated with unhealthy living, Canadean consumer data predicts consumers will continue to favour indulgence over anything else over the next three years. Owing to economic uncertainty and the pressures from everyday life, consumers will still look to treat themselves to premium and luxury items as a reward and coping mechanism.
Hardman says: “If manufacturers are looking to target the health-conscious audience more over the next three years, extending product portfolios as opposed to adjusting current product formulation will be preferred by consumers, as it allows them to stay loyal to the brand when they are looking for both indulgent and healthy offerings.”
The food industry predicts a growing desire for health over indulgence, but indulgence will continue to drive consumption, finds new survey from Canadean.
This information is based on a new Canadean consumer survey of 2,000 UK adults, conducted in October 2014 and the Canadean report ‘Emerging Consumer Trends and their Future Impact on the FMCG Industry.’
Please get in contact if you have any questions to this or other Canadean data. Contact Verena Niederacher at the Canadean press office on +44 (0) 207 936 6536 or email firstname.lastname@example.org.