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Fast moving consumer goods industry

valid until: 06 Mar 2022date published: 06 Mar 2021

Fast moving consumer goods industry is witnessing shiftsin consumer buying patterns and this creates an all-time demand for changing products and offering alternatives. Moreover, as income of majority of population across countries increase, the willingness to buy better and health-conscious products is also increasing. Dairy and food products have experienced major changes in buying behavior and total spending. Some of the key factors driving food product changes include familiarity with taste and price, preference for no artificial ingredients and willing to pay for it, demand for sustainably produced food, accessibility of good quality food, and influence of personal healthcare professional. According to 2018 Food and Health Survey Report, 78% indicate making a change in their eating habitsas a result of conversations with doctors and dieticians. Though there are multiple alternations in the food products; dairy alternatives, dietary fibers, plant-based meat, and plant-based protein products are recently gaining attraction from both suppliers’ and buyers’ front.

https://panmarketconsulting.com/fmcg-industry/

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