With food companies navigating increasing input costs, especially in oils and fats, they continue to innovate more on health and wellness products as consumers today are prone to spending more on healthier foods, stated a report by GlobalData. There has also been a growing focus on products that cater to consumers’ busy lifestyles, emphasizing the importance of satisfying cravings while also supporting overall well-being. For packaged food companies in the Asia-Pacific (APAC) region, health and convenience have become the key focus areas.
Bokkala Parthasaradhi Reddy, Lead Consumer Analyst at GlobalData, said, “Despite the economic pressures from inflation, there is an increase in consumer focus on healthy foods. The World Health Organization (WHO) has linked processed foods, especially ultra-processed foods, along with tobacco and alcohol, as contributing to global health issues and the death of millions. In addition, advocacy groups are clamoring for labeling ultra-processed foods in the same category as tobacco and alcohol. Given these trends, food companies are focusing on healthy foods to attract consumers and sustain their revenues.”
In line with this, the appeal of healthy foods remains strong despite the rise in prices of most products. Deepak Nautiyal, Consumer and Retail Commercial Director, APAC and ME, GlobalData, said, “Food innovation is gravitating to healthy and convenient products as companies try to align their products to consumers’ health goals and busy lifestyles.” One such example is Mission’s Protein Wholemeal Wraps launched in Singapore and Malaysia. Boasting plant-based protein, these wraps offer a sustained energy boost and are fiber-rich. Catering to various dietary preferences, they are vegan, vegetarian, halal, and free from artificial flavors and added sugar.
Similarly, Freshippo has released a 4.0 Fresh Milk in China, utilizing membrane filtration technology to enhance quality. It offers 4g of protein and 130mg of calcium per 100ml.
Bokkala Parthasaradhi Reddy added, “Consumers are equally concerned about their personal financial situation and health. This is reflected in a GlobalData consumer survey, wherein 55 per cent of respondents stated that they are extremely or quite concerned about their personal financial situation. At the same time, 49 per cent of them are extremely or quite concerned about their physical fitness and health. Meanwhile, convenience has also become a key factor in purchase decisions, as an overwhelming 85 per cent of respondents in the same survey stated that time-saving and easy-to-use (convenient) traits are essential or nice-to-have features in products.”
Further, health trends and busy lifestyles are reshaping consumer preferences in the packaged food market. As more individuals embrace active routines, there is an increased focus on products that support wellness and provide functional benefits. At the same time, GlobalData said, the demand for convenience is rising, driving consumers to seek snacks that fit seamlessly into their hectic schedules while promoting better health. By developing functional foods that cater to health-oriented consumers, brands can enhance loyalty and tap into new demographics.