future consumer trends - ahdb beef & · pdf file3 health trends 4 food and new technology...

Future Consumer Trends

Richard Nicholls, Future Foundation

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1 UK: economic and structural drivers

2 Global view

3 Health trends

4 Food and new technology

5 Consumer preferences

Future Consumer Trends

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UK: economic & structural drivers

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Trends driven by economic factors

Professionalised Budgeting

War on Waste

Cheap Treats

Discount Britain

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The shape of things to come

Food prices will still be higher than 8-10 years ago despite falling in 2014. So the consumer culture of budgeting and focus on price is here to stay.

Next few years likely to see moderate in-home food spend volume growth, slightly higher out of home.

Economic and structural drivers

Implications for meat and dairy

“War on Waste” will remain powerful.

“Cheap Treats” idea particularly relevant in this sector.

Expect high quality, reasonable price innovations from traditionally low-price retailers and fast food chains.

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Global view

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The shape of things to come

Despite recent slowdown, emerging markets still forecast to grow fastest over next five years.

High growth emergers likely to see boom in eating out of home, outstripping growth in food purchased for in-home.

Global view

Implications for meat and dairy

Growing emphasis on eating good quality food as a definition of luxury. Belief that paying more does get provide quality.

Generally strong interest in authenticity when purchasing food. Provenance important for emerging markets.

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Health trends

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Trends

Society of Sobriety

Transparency Food with Benefits

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The shape of things to come

“Free from” culture to become even more prominent.

Food with Benefits – an emerging trend at present but one we think will grow.

Plenty of support for consumer market regulation (& NHS costs under scrutiny). Expect more regulatory initiatives.

Health trends

Implications for meat and dairy

Clear labelling appreciated by the vast majority.

Sugar and salt and processed meat greater concerns than red meat or dairy, which most are happy to eat in moderation.

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Food and new technology

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Trends

The Versat-aisle Shopper

The Quantified Self

The Internet of Things

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The shape of things to come

We are just starting to see the beginning of the impact of mobile technology on the food shopping process.

More widespread adoption of beacon technology will energise the “Versat-ailse Shopper” trend.

Smart kitchen devices will appear: but not mainstream yet.

Food and new technology

Implications for meat and dairy

More information about products will be available to consumers instantly: price, nutritional details, provenance...

Quantification of individualised health data (intake of calories, fat etc.) will become more commonplace.

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Consumer preferences

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Trends

Everyday Exceptional

Experience Society

50 Shades of Green

Personalise Me

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The shape of things to come

Renewed focus on ethical concerns? Perhaps, but not too much at the expense of price. Transparency is important.

Desire for new experiences to drive new food innovations and tastes, in the UK and globally.

Personalisation: robotics and 3D printing in the 2020s!

Consumer preferences

Implications for meat and dairy

“Everyday Exceptional” trend creates ever greater range of occasions / reasons to celebrate. Special/unusual/premium food and drink a key part of this trend.

Tastes will evolve in emerging markets: Westernised diets, but for the global middle class, more sophisticated too.

LONDON | NEW YORK | STOCKHOLM LONDON | NEW YORK | STOCKHOLM

Please get in touch for more information

richardn@futurefoundation.net or +44 (0) 20 3008 6103