While the world’s developed economies are still dealing with the fallout from the banking crisis of 2008, many emerging markets have seen incomes rise significantly, providing significant growth opportunities for FMCG businesses looking to enter new markets. Each market continues to differ and a need for businesses to understand their market remains integral.
Several key findings related to the food, beverage and snacking categories were reported in the study. First, India’s prepared food market has more than doubled with cereal consumption increasing. In addition, South Africans are acquiring more expensive tastes in drinks and coffee is expected to see an annual growth of 8.8% a year. Also, in the UK chocolates and other treats are proving popular – particularly individually wrapped sweets.
Further, the report forecasts that the U.S. non-alcoholic beverage market will rebound, up to over 3% annually, as carbonated drinks benefit from new innovations.