Canadeanhttp://www.canadean.com2016-12-08T12:07:44umbracoLatest information from Canadean.enBrazil’s meat industry must adapt to financial and health concerns, says Canadeanhttp://www.canadean.com/news/brazil’s-meat-industry-must-adapt-to-financial-and-health-concerns,-says-canadean/Thu, 08 Dec 2016 00:00:00 GMThttp://www.canadean.com/news/brazil’s-meat-industry-must-adapt-to-financial-and-health-concerns,-says-canadean/The contraction of Brazil’s economy in recent years is driving consumers towards more affordable products, which is reflected in their meat choices, according to consumer insight firm Canadean.

The company’s latest report states that, due to the high importance of the meat sector in the country, Brazilians have become increasingly savvy shoppers, and are ever more aware of which meat products constitute good value for money. Larger pack sizes, family portions, buy-one-get-one-free offers, and in-store deals, are appealing to consumers looking for optimum value. Other attributes such as better, unusual or interesting cuts of meat are also important to consumers and elevate the perceived value of the product.

This trend for value shopping is reflected in a Canadean survey released in April 2015, which shows that 86% of Brazilians regularly or occasionally shop at discounters for groceries. In addition, 50% affirm that they are less bothered about buying leading food brands and more likely to choose cheaper options compared to five years ago.

Javier Gonzalez, Analyst for Canadean, explains: “Brazilian consumers are very discerning about the quality of meat products, so offering good quality or innovative cuts of meat at reasonable prices will be fundamental for manufacturers hoping to remain appealing. Indeed, such a strategy is particularly astute now due to brand loyalty being lower than ever.”

Korin is a good example of a company that has capitalized on Brazil’s demand for economical products with high quality packaged meats, marketed at a competitive price point. Korin products are organic, antibiotic-free, and contain neither chemicals nor preservatives, elevating their products’ value perception at an economical price.

In addition to price considerations, the nutritional value of products is becoming increasingly important. Low-fat, low-sodium, low-carbohydrate, and high-protein meats are all attractive to consumers looking for a healthier lifestyle. This is backed up by Canadean’s survey released in April 2015, in which 61% of over 55s in Brazil are worried about their heart health, and 49% about diabetes. 

Gonzalez notes: “Brazil’s aging population will make it vital that manufacturers introduce healthier meat products that match mature consumers’ nutritional needs.”

Editor’s notes

- Comments provided by Javier Gonzalez, Analyst for Canadean.

- Information based on Canadean’s report: Consumer and Market Insights: Meat in Brazil.

- All information correct at time of publication and based on Canadean's research methodology.

For more information

Please get in contact if you have any questions to this or other Canadean reports. Analysts are available to comment. Contact the Canadean press office on +44 (0) 161 359 5822 or email press@canadean.com

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Increasingly image-conscious men and baby boomers boosting the beauty market, says Canadeanhttp://www.canadean.com/news/increasingly-image-conscious-men-and-baby-boomers-boosting-the-beauty-market,-says-canadean/Mon, 21 Nov 2016 00:00:00 GMThttp://www.canadean.com/news/increasingly-image-conscious-men-and-baby-boomers-boosting-the-beauty-market,-says-canadean/Although image-consciousness is a trait traditionally associated with women and young adults, men and older generations are becoming more susceptible to its influence, as their desire to impress peers and colleagues is growing, according to consumer insight firm Canadean.

The company’s report states that the increasingly visually-oriented culture of society often means consumers associate image with success. While women are 1.3 times more likely to feel under pressure to look good than men, both genders associate appearance with success in personal and professional lives, with 66% of women and 61% of men subscribing to this belief.

The belief that image correlates with success is strong across all age groups, with over half of consumers agreeing. Young adults aged 16-24, however, are likely to be most influenced by this notion, with 65% agreeing, decreasing to 60% among those aged 55 and over.

According to Veronika Zhupanova, Analyst for Canadean: “This trend reflects how image-consciousness is catching up with men and baby boomers, demonstrating narrowing gender and age disparities in the beauty market.”

The increasing number of occasions when men use skincare products exhibits this trend. For example, among major global economies, men used skincare products on 453 billion occasions in 2011, which shot up to 557 billion occasions in 2015. Meanwhile, as image-conscious consumers age, the desire to maximize appearance among the older generation will increase.

Zhupanova notes: “With image-consciousness becoming ever-more pervasive among aging populations in developed economies and the pension age rising, competition to look good among this demographic will drive demand in categories such as anti-aging skincare and make-up, as consumers seek to impress employers and appear as dynamic as younger colleagues.”

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Amongst the young, social media, now a popular daily ritual, can be a significant driver of image-consciousness. “Selfie” culture encourages the taking of close-up photographs as a means of self-expression and impressing peers. The close-up nature of the shots, however, means potential for skin imperfections to be captured is high, and may encourage people to seek out products to minimize this.

 

Zhupanova continues: “While there have been a number of launches targeting photo occasions for young adults, such as Estee Lauder’s Flash Photo Powder, older consumers remain overlooked despite increasing social media use. This demographic offers prime opportunities in the make-up and skincare categories to innovate in line with the latest trends, such as the desire to be always “photoready” during busy days. In order to make the most of this opportunity, companies should be subtle in their marketing towards older consumers, emphasizing the important role photos have in making memories, for example.”

 

Editor’s notes

- Comments provided by Veronika Zhupanova, Analyst for Canadean.

- Information based on Canadean’s report: TrendSights Analysis: Image Consciousness; Exploring consumers’ attitudes towards image and beauty.

For more information

Please get in contact if you have any questions to this or other Canadean reports. Analysts are available to comment. Contact the Canadean press office on +44 (0) 161 359 5822 or email press@canadean.com

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Age-based targeting losing appeal for increasingly dynamic senior consumers, says Canadeanhttp://www.canadean.com/news/age-based-targeting-losing-appeal-for-increasingly-dynamic-senior-consumers,-says-canadean/Tue, 08 Nov 2016 00:00:00 GMThttp://www.canadean.com/news/age-based-targeting-losing-appeal-for-increasingly-dynamic-senior-consumers,-says-canadean/Traditional techniques used to market products to older consumers – also known as the ‘silver segment’ – are not necessarily relevant or effective today, as the demographic has started to reject outmoded stereotypes associated with aging, according to consumer insight firm Canadean.

The company’s report finds that 77% of consumers aged over 55 agree that they feel younger than they are. As the Asia-Pacific region is home to some of the oldest populations worldwide, it is becoming increasingly essential to understand the diverse needs of this growing and dynamic consumer group.

Jamie Mills, Analyst at Canadean, explains: “Often stereotyped and perceived as having a homogenous series of preferences, seniors have historically been categorized and targeted solely by age. However, consumers in this age group are seeking to convey their own identity, style, and personality through the products they buy, and brands should not overlook this.”

Based upon the company’s recent research, Canadean’s presentation at InCosmetics Asia “Speaking to the new silver: Seniors today vs. tomorrow” will examine how the silver segment is evolving through their behavior, preferences, and attitudes, and in doing so identify key innovation opportunities to explore to meet the needs of this redefined consumer.

According to Canadean’s research, the majority of consumers aged over 55 in Asia-Pacific say that they are unconcerned about the age they look or want their looks to reflect their age.

Mills continues: “One of the most pervasive stereotypes takes a highly youth-centric view towards attitudes towards aging in assuming that older consumers have a universal desire to look younger.

“However, our research contradicts this view, highlighting a common misconception of this consumer group. It will be essential for brands to challenge these stereotypes in order to unlock the potential of this segment both now and in the future.”

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Editor’s notes

- Comments provided by Jamie Mills, Analyst at Canadean.

- Information based on Canadean’s report: Speaking to the New Silver.

For more information

Please get in contact if you have any questions to this or other Canadean reports. Analysts are available to comment. Contact the Canadean press office on +44 (0) 161 359 5822 or email press@canadean.com

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Today’s rapidly digitizing society holds unique opportunities for beauty brands, says Canadeanhttp://www.canadean.com/news/today’s-rapidly-digitizing-society-holds-unique-opportunities-for-beauty-brands,-says-canadean/Thu, 03 Nov 2016 00:00:00 GMThttp://www.canadean.com/news/today’s-rapidly-digitizing-society-holds-unique-opportunities-for-beauty-brands,-says-canadean/The dynamic nature of today’s digital environment is reshaping the beauty landscape, impacting consumer behavior, beauty rituals, and innovations. These themes will be explored in greater detail during Canadean’s presentation “Targeting consumers in today’s digital era”, which will be delivered at InCosmetics Asia.

An example of evolving behavior that has spawned from this changing environment is the expansion of traditional social exchanges. These are no longer confined to physical interaction, and this can be attributed to the combination of social media and enhanced mobile technologies such as smartphones and tablets. Consumers can socialize at any time via mobile platforms.

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Jamie Mills, Analyst at Canadean, explains: “Posting selfies online or sending images is increasingly commonplace in consumer routines today, even replacing text messages for some. Due to these spontaneous social interactions, the need to be 'photo-ready' is becoming essential for digitized individuals.”

According to Canadean’s research, approximately three in five consumers in Asia-Pacific say they are conscious of their appearance in photos and images.

Mills adds: “This creates unique opportunities for beauty brands. For example, one of the defining characteristics of image-based social media platforms such as Instagram is that consumers are able to edit and enhance their appearance electronically by the use of filters. Beauty brands can capitalize on familiarity with such programs and their association with image enhancement to create a unique positioning.”

An example of this is Becca’s Backlighting Primer, which is available in Hong Kong, and acts as an instant filter to create a “soft-focused radiance” and glowing appearance.

  • Canadean will be presenting “Targeting consumers in today’s digital era” in the Marketing Trends Theatre on Wednesday 9th November at InCosmetics Asia

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Editor’s notes

- Comments provided by Jamie Mills, Analyst at Canadean.

- All information correct at time of publication and based on Canadean's research methodology.

For more information

Please get in contact if you have any questions to this or other Canadean reports. Analysts are available to comment. Contact the Canadean press office on +44 (0) 161 359 5822 or email press@canadean.com

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Saudi Arabia to see over 20 million visitors by 2020 as Hajj pilgrimage boosts tourism sector, says Canadeanhttp://www.canadean.com/news/saudi-arabia-to-see-over-20-million-visitors-by-2020-as-hajj-pilgrimage-boosts-tourism-sector,-says-canadean/Wed, 19 Oct 2016 00:00:00 GMThttp://www.canadean.com/news/saudi-arabia-to-see-over-20-million-visitors-by-2020-as-hajj-pilgrimage-boosts-tourism-sector,-says-canadean/Inbound arrivals to Saudi Arabia will reach over 20 million by 2020, as the religious tourism sector flourishes in line with increasing demand to join the annual Hajj pilgrimage, the most important religious event of the year in the Muslim world, according to consumer insight firm Canadean.

The company’s latest report finds that the Hajj represents a major tourism opportunity for both domestic and international stakeholders, particularly hotel groups and tour operators, as over two million pilgrims will travel to Saudi Arabia in September to visit Islam’s holiest site in Mecca. This will help Saudi Arabia to offset its recent losses in oil revenue, which accounts for 40% of the country’s GDP, with tourism contributing just 3.5% of GDP in 2015.

Gillian Kennedy, Analyst at Canadean, explains: “While the Hajj is an established ritual in the Islamic world, its importance as a tourism destination has been transformed in recent times. The Saudi government is investing heavily in new hotels and spending more than US$13 million a year renovating historical religious sites. Specific landmark hotel openings in the pipeline include the Abraj Kudai hotel, which will be the world's largest hotel with 10,000 rooms, built at an estimated cost of US$3.6 billion.”

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According to government statistics, tourist expenditure during Hajj season will increase by 30% over last year’s figures and reach US$6.9 billion in 2016. The increase is expected after the Saudi government ended the limit on Hajj pilgrimage visitors as previous overcapacity incidents caused violent episodes amid serious crowding at the Hajj.

Kennedy continues: “Despite previous incidents, demand to visit the Hajj continues to grow with over three million visitors a year, and tourist accommodation is witnessing a major increase in prices. With at least 40% of pilgrimage expenditure used for accommodation such as hotels or fully-furnished apartments, there are a plenty of investment opportunities with significant revenue potential emerging in the Saudi Kingdom. Already, 13 of Mecca’s 15 old neighborhoods have been rebuilt to make room for hotels and commercial spaces.

“Moreover, one square meter of land in the area surrounding the Grand Mosque is currently valued at US$122,350, resulting in much of the native population selling their property to the government or to real estate developers.”

Editor’s notes

- Comments provided by Gillian Kennedy, Analyst at Canadean.

- Information based on Canadean’s report: Travel and Tourism in Saudi Arabia to 2020.

- All information correct at time of publication and based on Canadean's research methodology.

For more information

Please get in contact if you have any questions to this or other Canadean reports. Analysts are available to comment. Contact the Canadean press office on +44 (0) 161 359 5822 or email press@canadean.com

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Adventurous female consumers provide major opportunity for targeted branding, says Canadeanhttp://www.canadean.com/news/adventurous-female-consumers-provide-major-opportunity-for-targeted-branding,-says-canadean/Mon, 17 Oct 2016 00:00:00 GMThttp://www.canadean.com/news/adventurous-female-consumers-provide-major-opportunity-for-targeted-branding,-says-canadean/While men are frequently marketed products promoting strength or an outdoor lifestyle, women tend to be left out of this domain, leaving open an important opportunity for brands to produce female-oriented products with a more “rugged” image, according to consumer insight firm Canadean.

Canadean’s report states that “rugged” products catering towards men, such as protein-rich yogurt featuring “manly” designs, are well-established on the market. Women who would like to be associated with brands conveying those values, however, remain overlooked.

Veronika Zhupanova, Analyst at Canadean, explains:  “Generally speaking, women have innumerably diverse interests beyond appearance, cooking and calorie counting, and do not want to be seen as fragile. Indeed, women are not necessarily interested in typically ‘feminine’ products which promote such a limited lifestyle, desiring instead to be seen as enjoying life to the full. This means the demand for brands conveying “ruggedness” in products aimed at women will grow.”

A Canadean global survey found that 54% of women agree with the statement “I like to buy food and drink products that are reflective of my attitudes and opinions in life” (as opposed to 50% of men). 55% of women agree with the statement “I like to buy personal care products that are reflective of my attitudes and opinions in life” (as opposed to 43% of men).

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Zhupanova states: “These figures reflect the importance of getting the message right when targeting women. Not only is their buying behavior more aligned to their attitudes and personal opinions, they are also more influenced by brand stories than men.”

To cater to this audience, manufacturers should target women’s sense of adventure, strength and stamina, but be mindful to include both male and female role models in marketing campaigns, and avoid overtly masculine packaging designs.

Zhupanova continues: “Making products look more exciting and focusing on their attributes rather than which gender they cater for will appeal to women who feel undermined by the “pink it and shrink it” positioning.”

There is also a niche for “women-only” positioning, as certain brands have started to disseminate messages encouraging female empowerment. For example, the #LikeAGirl campaign by feminine hygiene brand Always addresses confidence issues women are subject to during adolescence by encouraging women and girls to embrace their strong qualities and boost self-esteem.

Zhupanova concludes: “This sort of message can be employed beyond the feminine hygiene segment, and finding relevant messages where women feel they are overlooked, such as sports or extreme outdoor adventures, will resonate with the female population and encourage greater confidence.”

Editor’s notes

- Comments provided by Veronika Zhupanova, Analyst at Canadean.

- Information based on Canadean’s report: TrendSights Analysis: Self-Branding; Exploring consumers’ perception of brands’ impact on their image and lifestyles.

For more information

Please get in contact if you have any questions to this or other Canadean reports. Analysts are available to comment. Contact the Canadean press office on +44 (0) 161 359 5822 or email press@canadean.com

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Mixed growth for Private Label soft drinks across East and West Europe, says Canadeanhttp://www.canadean.com/news/mixed-growth-for-private-label-soft-drinks-across-east-and-west-europe,-says-canadean/Tue, 11 Oct 2016 00:00:00 GMThttp://www.canadean.com/news/mixed-growth-for-private-label-soft-drinks-across-east-and-west-europe,-says-canadean/Private Label soft drinks have faced turbulent times in recent years, with periods of economic uncertainty boosting consumption, and periods of prosperity seeing volumes fall, according to consumer insight firm Canadean.

The company’s latest Q2 beverage trackers for East Europe and West Europe state that Private Label soft drinks, a relatively new phenomenon in some East European countries in 2015, continued to perform well. Meanwhile in West Europe, Private Label returned to growth after two years of decline, although continuing to underperform versus branded products.

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Emma Wright, Analyst for Canadean, explains: “The return to growth of the Private Label segment in West Europe can be partly attributed to more retailers introducing premium quality and value-added own-label lines that are lower in cost than branded products, but can rival their quality and, in many cases, packaging design. However, the slowing growth rates registered in East Europe Private Label soft drinks are the result of more consumers seeing a rise in disposable incomes, along with more branded items being sold at a discounted price.”

In West Europe, iced/ready-to-drink coffee was the category to see the highest increase, up 8%, as Private Label outperformed the market in countries such as Austria, where further gains were made in the discount channel. In East Europe, however, enhanced water, a relatively new category in the region, recorded the strongest growth at 23%, as it enticed consumers with its affordability over branded products.

Among the major categories, packaged water grew across both regions, while carbonates in West Europe fell back, due to the overall decline in consumption and aggressive price promotions for many key brands. Interestingly, carbonates did not drop in East Europe, instead rising by 2%. In countries such as Romania, where there is a degree of economic instability, low-end Private Label carbonates can often be three or four times less expensive than their branded counterparts; an important factor for low-income consumers.

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Across both East and West Europe, in addition to the frequency of branded price promotions, Private Label soft drinks are coming under increasing pressure from the discounters’ strategy of listing growing numbers of branded products. This is expected to curb Private Label growth in 2016 overall, but in major own-label markets such as Germany and the UK, Canadean expects retailers’ premium Private Label lines to significantly outperform lower-end offerings.

Editor’s notes

- Comments provided by Emma Wright, Analyst for Canadean.

- Information based on Canadean’s reports: Quarterly Beverage Tracker Second Quarter 2016: East Europe and Quarterly Beverage Tracker Second Quarter 2016: West Europe.

visit www.canadean.com

For more information

Please get in contact if you have any questions to this or other Canadean reports. Analysts are available to comment. Contact the Canadean press office on +44 (0) 161 359 5822 or email press@canadean.com

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Low and zero-alcohol beer gaining popularity in West Europe as consumers worry about their health and wallets, says Canadeanhttp://www.canadean.com/news/low-and-zero-alcohol-beer-gaining-popularity-in-west-europe-as-consumers-worry-about-their-health-and-wallets,-says-canadean/Tue, 27 Sep 2016 00:00:00 GMThttp://www.canadean.com/news/low-and-zero-alcohol-beer-gaining-popularity-in-west-europe-as-consumers-worry-about-their-health-and-wallets,-says-canadean/Low alcohol and alcohol-free (>=0 <=3% Abv) variants have been major drivers of beer consumption volumes in 2015, and are becoming widely accepted as flavorsome alternatives to regular strength beer, according to consumer insight firm Canadean.

The company’s latest report states that due to the health and wellness trend becoming more entrenched in consumer lifestyles, low alcohol beer volumes in West Europe have been growing by 1% annually. Indeed, alcohol-free beer recorded growth of 7% in 2015, and is the fastest growing segment by alcohol strength over a seven-year period.

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Germany, a country whose alcoholic beer culture is internationally renowned, is a key driver of West Europe’s low and non-alcoholic beer volumes, accounting for over half of low alcohol and alcohol-free beer consumption. Growth in Germany’s low alcohol beer and alcohol-free beer volumes outpaced that of West Europe in 2015, at 5% and 3% respectively. This growth can be attributed to the strength of the domestic industry, as Germany boasts the most popular brands in both strength segments, with Erdinger Alkoholfrei (Erdinger) generating the largest alcohol-free volumes, and Oettinger Radler (Oettinger Bier Brauhaus) leading the low alcohol segment. This highlights how German brewers have been effective at capturing market share as consumer interest has risen.

Andrew Curran, Beverage Analyst for Canadean, explains: “The success of low alcohol and alcohol-free beers can be partly attributed to the ongoing health and wellness trend that is particularly prevalent in Western Europe. Consumers are becoming increasingly aware of their alcohol intake and see low alcohol and alcohol-free variants as a healthier alternative, while still allowing for participation in traditional cultural events.”

 

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Besides health, the low alcohol/alcohol-free market has also been affected by legal and economic factors. A number of West European countries are strengthening their drink-driving restrictions in a bid to tackle incidents of dangerous driving caused by alcohol intake.

Curran continues: “This encourages consumers to consider low alcohol/alcohol-free variants, while purchasing on-premise to adhere to laws and maintain regular social activity. As well as this, low-alcohol/alcohol-free beer variants are less expensive on average than their regular strength counterparts, providing an incentive to consumers seeking value for money to change their buying behavior.”

Editor’s notes

- Information based on Canadean’s report: Germany Beer Market Insights Report 2016.

- All information correct at time of publication and based on Canadean's research methodology.

For more information

Please get in contact if you have any questions to this or other Canadean reports. Analysts are available to comment. Contact the Canadean press office on +44 (0) 161 359 5822 or email press@canadean.com

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The male market remains a big opportunity for savory snacks manufacturers in Russia, says Canadeanhttp://www.canadean.com/news/the-male-market-remains-a-big-opportunity-for-savory-snacks-manufacturers-in-russia,-says-canadean/Wed, 14 Sep 2016 00:00:00 GMThttp://www.canadean.com/news/the-male-market-remains-a-big-opportunity-for-savory-snacks-manufacturers-in-russia,-says-canadean/Currently, the average Russian man consumes savory snacks less often than his female counterpart, presenting new opportunities for manufacturers to appeal to indulgence-seeking men, according to a new study published by consumer insight firm Canadean.

The company’s latest report states that the Russian savory snacks market was valued at US$2.7 billion in 2015, and is forecast to grow at a rapid compound annual growth rate of 10.1% to reach US$4.3 billion by 2020.

In Russia, men account for 43% of total savory snack occasions, despite representing 46% of the population. On average, Russian men consume savory snacks on 93 occasions per year, compared to 105 for females. However, for Veronika Zhupanova, Analyst at Canadean, there is reason for optimism: “The numbers show that while women are considered a wider audience, men represent a substantial market with genuine growth potential.”

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Canadean’s research reveals that while comfort food might traditionally be more associated with a female audience, it is men who are far more likely to turn to savory snacks as a means of relaxing. Indeed, nearly 30% of the volume of savory snacks eaten by men is driven by this, compared to 21% for women. Moreover, indulgence plays a more significant role for men compared to women, driving 39% of men’s consumption, and 28% of women’s consumption respectively. The implication is clear: snack manufacturers can appeal to males by engaging their pleasure-seeking side.

Zhupanova explains: “While we have seen a number of savory snack launches targeting men, current innovation is mostly unisex. In this way, indulgent snacks that are overtly masculine in design and positioning can stand out from the crowd.”

By targeting Russian men, manufacturers face a tricky dilemma. While the demographic reports being motivated by emotional cues like a desire for relaxation, men typically reject concepts that come across as being overtly emotive.

Zhupanova continues: “There are several options available to manufacturers, such as dark-colored packaging, larger “male” sizes, and claims such as “rich in protein”, which are all concepts that generally appeal to men more than women. Products such as nuts and seeds can more overtly target “masculine” occasions, such as restoring energy after a workout.”

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One example for companies targeting the Russian savory snacks market is Just Brutal “manly” chips from Belarus. While the product does not target men explicitly, the product’s masculine design and flavors, such as Bloody Mary and Steak, are clearly designed to appeal to a male audience.

Editor’s notes

- Comments provided by Veronika Zhupanova, Analyst at Canadean.

- Information based on Canadean’s report: Consumer and Market Insights: Savory Snacks in Russia.

- All information correct at time of publication and based on Canadean's research methodology.

For more information

Please get in contact if you have any questions to this or other Canadean reports. Analysts are available to comment. Contact the Canadean press office on +44 (0) 161 359 5822 or email press@canadean.com

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Global savory snacks market to reach over $138 billion by 2020 as ‘snackification’ trend grows, says Canadeanhttp://www.canadean.com/news/global-savory-snacks-market-to-reach-over-$138-billion-by-2020-as-‘snackification’-trend-grows,-says-canadean/Wed, 07 Sep 2016 00:00:00 GMThttp://www.canadean.com/news/global-savory-snacks-market-to-reach-over-$138-billion-by-2020-as-‘snackification’-trend-grows,-says-canadean/The global savory snacks market will rise from US$94.5 billion in 2015 to US$138.2.billion by 2020, representing a compound annual growth rate (CAGR) of 7.9%, according to consumer insight firm Canadean.

The company’s latest report states that such growth is expected to come mainly from developing countries in the Asia-Pacific and Eastern European regions, with CAGRs of 13.7% and 7.3%, respectively, while the Latin American region is expected to register a more moderate CAGR of 3.2%.

According to Rashmi Mahajan, Analyst for Canadean: “Rising urbanization levels and busier lifestyles are impacting the eating habits of consumers, who are increasingly replacing main meals with more flexible, light, and convenient snacking options. Changing consumer preferences and the growing trend of ‘snackification’, which represents a significant portion of everyday eating routines, is driving the demand for portable and on-the-go formats.”

Big opportunities exist in large, populous developing countries with low per capita consumption levels, such as China (0.8 kg of savory snacks per person in 2015) and India (1 kg), compared to the high levels of consumption in developed countries such as the US (9.5 kg) and the UK (7 kg).

Canadean’s analysis reveals that the health and wellness trend has impacted the eating habits of consumers in developed markets, who tend to base their snacking choices on nutritional value and quality. In this way, consumers are trading up and spending more on premium varieties of snacks. Consumers in emerging countries including Brazil, China and India, on the other hand, mostly base their snack choices on value and experimentation.

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Mahajan continues: “Despite the regional differences in snacks consumption, innovation in flavors remains an important differentiating factor globally, as consumers across all ages opt for products offering new and unusual consumption experiences. Examples include nacho chips in papdi chaat flavor in India, maize snacks in a tangy fruit chutney flavor in South Africa, popcorn in strawberry and cream flavor in the UK, and potato chips in chocolate chilli flavor in France.”

According to Canadean, the global savory snacks market is highly fragmented, with the top five brands holding less than 16% market share. Lay’s, Doritos, Pringles, Cheetos, and Ruffles were the leading brands with the highest market share in 2015.

Editor’s notes

- Information based on Canadean’s report: Global Savory Snacks Report; Analysis of opportunities offered by high growth economies.

- All information correct at time of publication and based on Canadean's research methodology.

For more information

Please get in contact if you have any questions to this or other Canadean reports. Analysts are available to comment. Contact the Canadean press office on +44 (0) 161 359 5822 or email press@canadean.com

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