Sean Moloughney, Editor06.02.14
Healthfulness is gaining ground as a top consideration for U.S. consumers when they purchase food and beverages, according to the International Food Information Council (IFIC) Foundation’s 2014 Food and Health Survey, rising from 61% of those polled in 2012 to 71% in 2014. Taste and price remain the most important factors at 90% and 73%, respectively.
While consumer focus on healthfulness doesn’t necessarily translate to better health, it’s a significant step in the right direction. Clearly, our industry has an audience. Companies that can deliver the trifecta—healthy and affordable products that taste good—are bound for success.
Notably, half of consumers (50%) are actively trying to limit the amount of sugar they take in, along with sodium/salt (53%) and calories (48%). At the same time, they are looking to get more fiber (53%), whole grains (53%) and protein (50%).
These trends represent a baseline foundation from which companies can operate. Peter Leighton, founder of Abunda Solutions and vice president of product strategy at Complete Nutrition, further describes market opportunities that are “screaming for innovative products and unique solutions.” His article offers a good guide for companies considering how to advance the functional food and beverage space forward.
In many ways, though, success in the marketplace is a function of branding. You might have the ultimate elixir—the fountain of youth in a bottle—but if it looks the same as the next product on the shelf then your message may not last so long.
How do you attract an audience? As Jeff Hilton, partner and co-founder of BrandHive, states, “More than ever, products can be very specifically targeted to meet the precise needs, lifestyles and purchase behaviors of their consumers.”
How do you spread your message? When it comes to Millennials, 75% of whom are on social media, they’ll often do it for you. “They share information, foods, pictures, advice and opinions 24 hours a day, seven days a week,” said Mr. Hilton. “They provide unsolicited endorsements and criticism regarding products and brands they encounter in their lives.”
It seems social media amplifies everything. Successes develop overnight as your message gets replayed, and retweeted. However, at the same time, you can fall just as quickly as you rise. If one misstep goes viral you may lose all your followers, or worse. So don’t forget the other important recipe for success: quality. This is no time for shortcuts.
While consumer focus on healthfulness doesn’t necessarily translate to better health, it’s a significant step in the right direction. Clearly, our industry has an audience. Companies that can deliver the trifecta—healthy and affordable products that taste good—are bound for success.
Notably, half of consumers (50%) are actively trying to limit the amount of sugar they take in, along with sodium/salt (53%) and calories (48%). At the same time, they are looking to get more fiber (53%), whole grains (53%) and protein (50%).
These trends represent a baseline foundation from which companies can operate. Peter Leighton, founder of Abunda Solutions and vice president of product strategy at Complete Nutrition, further describes market opportunities that are “screaming for innovative products and unique solutions.” His article offers a good guide for companies considering how to advance the functional food and beverage space forward.
In many ways, though, success in the marketplace is a function of branding. You might have the ultimate elixir—the fountain of youth in a bottle—but if it looks the same as the next product on the shelf then your message may not last so long.
How do you attract an audience? As Jeff Hilton, partner and co-founder of BrandHive, states, “More than ever, products can be very specifically targeted to meet the precise needs, lifestyles and purchase behaviors of their consumers.”
How do you spread your message? When it comes to Millennials, 75% of whom are on social media, they’ll often do it for you. “They share information, foods, pictures, advice and opinions 24 hours a day, seven days a week,” said Mr. Hilton. “They provide unsolicited endorsements and criticism regarding products and brands they encounter in their lives.”
It seems social media amplifies everything. Successes develop overnight as your message gets replayed, and retweeted. However, at the same time, you can fall just as quickly as you rise. If one misstep goes viral you may lose all your followers, or worse. So don’t forget the other important recipe for success: quality. This is no time for shortcuts.
