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Food & Beverage Asia February/March 2022

Food & Beverage Asia (FBA) is the leading source of food and beverage news in Asia since 2002. FBA delivers a comprehensive view of the food and beverage landscape, spanning across the latest health and nutrition trends and industry innovations in ingredients, recipe formulations, food science, sustainability, packaging, and automation, as well as advancements in agri and food-tech.

Food & Beverage Asia (FBA) is the leading source of food and beverage news in Asia since 2002. FBA delivers a comprehensive view of the food and beverage landscape, spanning across the latest health and nutrition trends and industry innovations in ingredients, recipe formulations, food science, sustainability, packaging, and automation, as well as advancements in agri and food-tech.

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42<br />

PROCESSING AND PACKAGING<br />

Reading the market: Three key<br />

consumer trends spurring innovation in<br />

confectionery processing technology<br />

Through understanding the key factors driving the confectionery market,<br />

manufacturers can better understand consumer demand and make<br />

necessary adjustments to their business operations, enabling stronger<br />

results both now and in the road ahead.<br />

By Edward Smagarinsky, group product manager (mogul) of confectionery at tna solutions<br />

A favourite with shoppers of all ages,<br />

market reports suggest sweet treats are<br />

set to become even more popular, with the<br />

confectionery market's value predicted to<br />

rise at a steady rate to reach over US$290m<br />

by 2023 1 . To ensure they remain relevant in<br />

this fast-growing market, it is more important<br />

than ever that manufacturers understand<br />

the trends shaping consumer demand and<br />

explain how brands can tap into these insights<br />

to set themselves up for sweet success.<br />

SCOPING THE CURRENT<br />

CONFECTIONERY MARKET<br />

Fuelled by innovative concepts, such as<br />

vegan gummies and 'better-for-you' candies,<br />

volume and value indices are rising across<br />

the global confectionery sector 2 . There are,<br />

however, regional variations which brands<br />

should consider while forming sales strategies.<br />

Consistent with long-standing market trends,<br />

Western Europe, North America, and <strong>Asia</strong> still<br />

account for the highest proportion of sales for<br />

both volume and value in 2021. Yet with high<br />

competition in these regions, manufacturers<br />

face significant challenges in increasing market<br />

share 3 . Currently representing a relatively small<br />

segment of the global market, the Middle East<br />

and North Africa are due to deliver the highest<br />

growth between 2021 and 2023, opening up<br />

new opportunities for brands willing to cater to<br />

a fresh consumer base 4 . Beyond the broader<br />

trends, three important purchase drivers<br />

have emerged that brands must address to<br />

attract today’s conscientious consumers.<br />

1. SUSTAINABILITY<br />

In the wake of the COP26 climate summit,<br />

interest in strategies for sustainable living is at an<br />

all-time high. Consumers are looking for ways to<br />

go green in their daily purchases by searching for<br />

brands committed to environmental responsibility.<br />

To appeal to these consumers, confectioners<br />

should focus on reducing energy and material<br />

use throughout the production process.<br />

FOOD & BEVERAGE ASIA FEBRUARY / MARCH <strong>2022</strong>

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