IFF Report: consumers are increasingly seeking products that enhance wellness and align with their values
Source: The DairyNews
In a bid to navigate the challenges posed by inflation, IFF, a global leader in food and beverage, home and personal care, and health sectors, has unveiled insights into evolving consumer trends within the dairy and alternative dairy categories.
The report, drawn from a comprehensive global survey of 21,000 consumers and monthly market data, sheds light on how brands can thrive in the face of economic adversity by delivering added value and resonating with consumer values.
Richard Neish, head of global futures at IFF, emphasized the importance of prioritizing quality and value amidst the global cost-of-living crisis. He noted that consumers are increasingly seeking products that enhance wellness and align with their values, driving a significant shift in purchasing behavior.
The report identifies five key trends driving market changes, with 'Better-Being' emerging as a leading trend reflecting consumers' heightened focus on health preferences. Health labeling significantly influences product choices for six in ten respondents, underlining the importance of wellness-centric offerings.
Despite the dairy sector bearing the brunt of inflation, consumers have demonstrated a willingness to prioritize quality over cost since 2022. Premium brands that promise uncompromised quality have gained traction, while private label dairy products have also seen increased demand, catering to budget-conscious consumers without sacrificing quality.
The strategic integration of functional wellness ingredients, such as probiotics, has emerged as a pivotal approach for dairy brands to add value beyond pricing. Moreover, brands that align with consumer values, such as sustainability and authenticity, have resonated strongly with consumers. Gen Z, in particular, places significant emphasis on aligning purchases with personal beliefs, reflecting a broader shift towards conscientious consumption.
Additionally, the report highlights a growing consumer preference for indulgence and convenience, driving demand for on-the-go products like ice cream. This underscores the importance for brands to deliver pleasurable experiences that cater to evolving consumer lifestyles.
Richard Neish, head of global futures at IFF, emphasized the importance of prioritizing quality and value amidst the global cost-of-living crisis. He noted that consumers are increasingly seeking products that enhance wellness and align with their values, driving a significant shift in purchasing behavior.
The report identifies five key trends driving market changes, with 'Better-Being' emerging as a leading trend reflecting consumers' heightened focus on health preferences. Health labeling significantly influences product choices for six in ten respondents, underlining the importance of wellness-centric offerings.
Despite the dairy sector bearing the brunt of inflation, consumers have demonstrated a willingness to prioritize quality over cost since 2022. Premium brands that promise uncompromised quality have gained traction, while private label dairy products have also seen increased demand, catering to budget-conscious consumers without sacrificing quality.
The strategic integration of functional wellness ingredients, such as probiotics, has emerged as a pivotal approach for dairy brands to add value beyond pricing. Moreover, brands that align with consumer values, such as sustainability and authenticity, have resonated strongly with consumers. Gen Z, in particular, places significant emphasis on aligning purchases with personal beliefs, reflecting a broader shift towards conscientious consumption.
Additionally, the report highlights a growing consumer preference for indulgence and convenience, driving demand for on-the-go products like ice cream. This underscores the importance for brands to deliver pleasurable experiences that cater to evolving consumer lifestyles.
23.09.2024
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