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Specific trends have been accelerated by the COVID-19 pandemic, including how and wher consumers purchase as well as a renewed focus on nutritionally fortified foods and beverages. Presenting at the Vitafoods Virtual Expo, Rabobank highlights what brands need to do in order to take back market share and best prepare for a recession.
“We’re in the midst of an economic downturn. This is one of the worst crises from an economic point of view, which has implications also on how consumers are buying food,” says Cyrille Filott, global strategist at Rabobank.
E-commerce for food is becoming a critical channel. “Many people have used this and will continue to use it after the crisis. Not everybody, of course, because people do enjoy going to a supermarket.”
Nutrition is underscored as another primary driver of new purchasing behaviors. “I expect an acceleration of the consumer mindset and also in the way food companies and retailers are going to be much more transparent in their nutrition.”
In particular, COVID-19 has been spurring on weight management priorities, which may further propel the demand for healthier F&B reformulations.
Even prior to the pandemic, Innova Market Insights pegged “Macronutrient Makeover” as a Top Trend for 2020.
“Many studies have found that during the corona crisis, especially obese people are the ones that have higher mortality rates, unfortunately,” says Filott.
Indeed, a recent Public Health England (PHE) data review has established a significant relationship between weight-related comorbidities and COVID-19 mortality in the UK.
“That is a key driver that could be and should be an eye-opener for both the consumer and governments,” asserts Filott.
Nutriscore influences purchasing decisions
The rollout of Nutriscore in F&B offerings across Europe is helping consumers better distinguish between healthy and unhealthy nutritional choices. COVID-19 is expected to accelerate its popularity.
https://www.nutritioninsight.com/news/the-netherlands-to-roll-out-nutri-score-one-in-two-dutch-people-overweight-research-warns.html
“They like to have a better ranking than their competitors potentially. So I think this is a significant trend which will be rolled out in the next few years, and will accelerate because the consumers are paying closer attention to it due to the COVID-19 crisis,” says Filott.
With the appetite for healthier foods during the pandemic being more prevalent, food fortification is frequently touted as among the most effective and affordable ways to help consumers meet recommended daily intakes of micronutrients.
“During the height of the pandemic in Europe, people were buying a lot of oranges for vitamin C. This was also occurring with supplements. The statistics were fantastic in terms of growth and people wanted to buy products that help them get in better shape.”
“Many companies are going to look into the fortification of food products from this year onwards.”
Despite the nutritional enhancement of food, fortification also bears some R&D challenges, Dr. Sonja John, product and area sales manager at Dr. Paul Lohmann, previously told FoodIngredientsFirst’s sister platform NutritionInsight.
Mineral salts notably may influence the final applications properties in terms of taste or texture, while additional challenges lie in color and scent.
dro in on-the-go consumption
Rabobank research also flags that on-the-go consumption has seen a substantial dro in turnover due to lockdown measures.
“Consumers stay at home and travel less, so eat less on the go. The trend towards greater convenience is expected to recover as soon as measures are relaxed.”
On-the-go consumption was steadily widespread before the pandemic, with consumers seeking “the right bite” in F&B products supporting active and busy lifestyle choices. Last year, Innova Market Insights pegged this as a key purchasing driver.
“Revenue growth is actually only limited by delivery capacity and thus accelerates growth expectations for the longer term and the digitization of the chain.”
Indeed, corporations have been actively injecting capital into scaling up their in-house delivery activities. For instance, meat alternatives heavyweight Impossible Foods recently launched a new e-commerce site for its US consumers to purchase family-sized quantities of the plant-based Impossible Burger.
In March, a new virtual “in-store” concept by LifeStyles in 360 debuted, allowing consumers to shop from their homes thanks to virtual reality technology, paired with a white-glove delivery service.
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