Report examines global consumer packaged goods market
It shows future scenarios driving consumption & product innovation during 2014-2019
MarketReportsStore.com (MarketReportsStore.com) adds Early Signals: future scenarios that will drive consumption and product innovation over the next five years, a 2014 market research report to its store. This research provides a tool kit for understanding how tomorrow's market will differ from today's by analyzing 14 unique scenarios. The likelihood of occurring, impact on business practices, and potential value of each scenario is quantified, meaning the readers gain a clear, concise and compelling argument for how the market will change, and why.
In addition, the key consumer groups and most likely early adopters are identified for each scenario, helping companies identify who they need to target to make the most of these future opportunities. These 14 scenarios are based on 50 early signals of change in consumer behavior that will drive deep, structural changes in consumer markets in future, as identified by a team of global industry experts. Some of the findings from this research include: Reverse innovation and a new wave of emerging economies will arrive, including Africa and the Far East. Successfully targeting the early adopters of this scenario will be worth up to US$1.7 trillion across consumer markets worldwide by 2018. While no single company will take a complete share of this opportunity, this figure highlights the maximum potential value of changes to consumer behavior as a result of this scenario across countries and consumer markets. Technology will have a greater influence on shopping habits and choice of channels. Increasing automation of retail will breathe new life into vending machines, discounters will take a growing share of online retail, and technology will help consumers make healthier consumption choices. This scenario has a high likelihood of occurring, but will only have a moderate impact as consumer industries are already gearing up for more technologically-minded consumers.
The issue of transparency will reach a tipping point, as consumers become "anti-big". Consumers will prioritize "smaller" brands which they associate with artisanal production techniques, better quality and greater levels of trust, and the desire for consumers to be "closer" to their food and drink will intensify. The key consumer groups for this scenario will be highly educated, affluent women living in urban environments. Resource scarcity will intensify and sustainable behavior will become more noticeable. This includes the growing prevalence of artificial food, the effects of dwindling resources on cooking habits, and how "less is more" packaging will become the norm. However, this is the least valuable of the 14 scenarios analyzed by this report, worth US$133 billion by 2018.
Scenario 1: Magic Bullet Health Solutions
A new wave of "magic-bullet" ingredients will arrive
- Manufacturers will look to capitalize on the next wave of "magic bullet" ingredients that offer immediate health benefits such as disease prevention, weight management and nutritional boosts.
- The trends driving this scenario: Health, changing age structures and trust.
- The Early Signals to look out for:
- Each early signal identifies an emerging market that has the potential to increase the number of consumers it appeals to, maturing to become an evolving market, and ultimately an established market.
- Super-foods will become even more important for older consumers, despite rising skepticism
- Protein will carry a "health halo" as non-athletes also seek out the ingredient to aid health
- Fiber will become an increasingly important ingredient in the battle against obesity
- Alternative sweeteners will become more prevalent on the market as consumers look to curb their sugar intake
Reasons to buy this market report on Global Consumer Packaged Goods: Future Scenarios Driving Consumption & Product Innovation, 2014-2019 include: it allows marketers to future-proof their new product development process by identifying the key changes in consumer behavior over the next five years. Marketers will also be able to identify key consumer targets for each future scenario. Understand how key trends such as health, technology, and ethics will evolve, and how best to target them. Learn from the most innovative product development and marketing strategies.