Health and Convenience Take Center Stage for Food Manufacturers in the Asia-Pacific Region: Report
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New Delhi, Dec 31 (NationPress) Health and convenience have emerged as primary concerns for packaged food manufacturers in the Asia-Pacific (APAC) region, as stated in a report released on Tuesday.
As food producers navigate rising input expenses, particularly in oils and fats, their innovations are increasingly centered on health and wellness, with consumers willing to pay a premium for healthier options.
There is also a notable shift towards products that meet the needs of busy lifestyles, highlighting the significance of satisfying cravings while promoting overall wellness, according to GlobalData, a prominent data and analytics organization.
“Despite the economic pressures due to inflation, there is a growing consumer emphasis on healthy foods. The World Health Organization (WHO) has identified processed foods, particularly ultra-processed varieties, as significant contributors to global health concerns and the mortality of millions,” stated Bokkala Parthasaradhi Reddy, lead consumer analyst at GlobalData.
Moreover, advocacy groups are pushing for the labeling of ultra-processed foods alongside tobacco and alcohol. In light of these trends, food manufacturers are prioritizing health-conscious products to engage consumers and maintain revenue streams, Reddy added.
According to Deepak Nautiyal, consumer and retail commercial director for APAC and ME at GlobalData, the allure of healthy foods remains robust despite the surge in prices of various products.
Food innovation is gravitating towards healthy and convenient products as companies strive to align their offerings with consumers’ health objectives and hectic lifestyles, he noted.
Consumers are also acutely aware of their financial circumstances and health, as reported.
This is evident in a GlobalData consumer survey where 55 percent of participants expressed significant concern about their financial situation.
Concurrently, 49 percent of respondents indicated they are very or somewhat worried about their physical fitness and health. Additionally, convenience has become a crucial factor in purchasing decisions, with a staggering 85 percent of survey respondents asserting that time-saving and easy-to-use features are essential or desirable in products.
“Health trends and busy lifestyles are transforming consumer preferences in the packaged food sector. As more individuals adopt active routines, there is a heightened focus on products that foster wellness and offer functional advantages,” Reddy remarked.
