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affluent seniors hold opportunities for formulators
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the growth in ageing populations across europe is opening up potential for food and drink manufacturers, according to research from datamonitor, and companies could end up reformulating products just to target the over 50s. the 50+ age group is becoming a key demographic with strong spending power that cannot be ignored, said matthew taylor, consumer market analyst at datamonitor, and co-author of a series of new datamonitor reports on senior consumers. taylor told foodnavigator.com that the markets that show the greatest potential when targeting the senior sector include frozen foods and convenience foods such as ready meals. products that address health concerns with, for example, heart health or immune system benefits also show potential. and the over 50s are more likely to go for premium products and demonstrate strong brand loyalty. taylor said that one approach food manufacturers could take to target this market could be introducing added benefits to products through ingredients formulation. another idea would be to take advantage of the tendency among seniors to use the microwave a lot, again adding the convenience factor. alternatively, companies could follow the example of other consumer packaged goods in the non-food sector that have put a 40+ tag on products to appeal to older consumers. although taylor warned that there was the risk of alienating other groups in doing so. he said : “the seniors age group is expanding rapidly. “it is becoming the largest demographic in a lot of countries and it is quite an affluent age group - there is a lot of spending power. “but it is important not to forget the younger consumers because in years to come they will be the seniors. something that is marketed to seniors is likely to have less appeal to the younger age groups.” datamonitor analysis shows that the uk’s senior population for example exceeds one third of the overall population. in total the senior group of consumers makes up more than 90 million people in the us and europe (namely france, germany, italy, netherlands, uk, spain and sweden), which is expected to rise to over 100 million by 2012. datamonitor said: “this should make the senior consumer particularly worth targeting in terms of potential market size alone.” taylor said that unlike other age groups, seniors have fewer commitments and tend to be “empty nesters” with no children, who may be retired. also, with substantial assets and significant liquid capital, seniors are likely to ‘upgrade’ and choose premium products, particularly those empty nesters who have less obligation to support the family and children. similarly, with increased consumer awareness of sustainability, many products made with natural ingredients cultivated organically, or sourced from specific origins, are becoming popular among this consumer group. taylor said they also carry the signal that they are “danger-free” and benefit from the natural substances they contain. there also appears to be an attitude that few seniors can be easily switched to another brand, other than their preferred one, unless given at least a shot-term price inducement.
Source :Food Ingredients Food Science - Additives, Flavours, Starch
Date :
14
April
2009
Category :
Food Industries Plant
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the current pace of life demands speedy solutions from the food industry. the ready meals market in western europe, one of the strongest performing areas of the food sector worth €7.3 billion in 2001, is set to grow to €8.7 billion by 2006. a new consumer insight programme, the result of consumer surveys, focus groups and interviews from market analysts datamonitor, presents ten key consumer insights for ready meal, prepared pizza and meal kit players.
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\"premium foods are the latest attempt by supermarkets to tempt consumers.\" such were the vociferous words of the uk consumer association (ca) this week. in a new which? report from the ca released on thursday, just over half the premium products tested scored higher than their standard sister ranges. the report claims that sophisticated packaging and tempting names such as \'the best\' and \'extra special\' might be unfulfilled promises.
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in spite of the global downturn, 2009 turned out to be an eventful year for the food industry. economic recovery, albeit a slow and slightly faltering one, should bring equally if not more interesting times. ben cooper looks at what is likely to be dominating the headlines in the coming year. as 2009 closes and the food industry prepares for a well-earned break - and a chance to consume far too much of its own product - attention inevitably turns to what might be dominating the headlines over the next 12 months.
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as time-pressed italians and mediterranean interest from abroad are driving growth in the italian food sector, dsm food specialties is positioning to grow sales of its bakery enzymes and savoury ingredients with the appointment of azelis as its distributor. dsm has been active in the italian market for many years, both selling directly and through distributors. it has worked with azelis in the past on beverage enzyme, but the new agreement extends bakery enzymes and savoury ingredients as well.
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the ready meals market is anything but on its way out, as manufacturers tap into healthy trends and revitalise products once seen as favoured by 'couch potatoes' and people with no time to pay attention to proper healthy eating. according to a new report from mintel called "eating habits: improving the appeal of convenience options in europe", the ready meals market in germany, france, uk, italy and spain is worth €8.
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the trend for 'clean label' foods containing few e-numbers is emanating from the uk market but it is not yet a keen priority for consumers, retailers and manufacturers in every country, says gc hahn. e-numbers are used on food product labels throughout the eu and refer to additives - be they colours, preservatives, antioxidants, acidity regulators, thickeners, stabilisers, emulsifiers, anti caking agents, flavour enhancers or other miscellaneous ingredients.
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warranted or not, it comes as no surprise to learn that there is growing concern among uk consumers over food safety. according to new research from mintel, 41 per cent of adults were concerned about the safety of food in 1997, while in 2002 this figure has risen to 44 per cent of consumers. the report revealed that there is a considerable difference in attitude between men and women with over half of women (51 per cent) worried about food safety, compared to just 36 per cent of men.
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Coca.Cola
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PEPSI
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Mcdonald
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Nestle
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Mars
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Baskin & Robins
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Nutrika
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Mumika
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Chika
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marks & spencer's decision to 
as the pressures of weak 