future consumer trends - ahdb beef & · pdf file3 health trends 4 food and new technology...
TRANSCRIPT
Future Consumer Trends
Richard Nicholls, Future Foundation
2 2
1 UK: economic and structural drivers
2 Global view
3 Health trends
4 Food and new technology
5 Consumer preferences
Future Consumer Trends
3 3
UK: economic & structural drivers
4
Trends driven by economic factors
Professionalised Budgeting
War on Waste
Cheap Treats
Discount Britain
5 5
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.
6 6
Global view
7 7
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
12
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
15
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.
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