The world population is ageing at unprecedented rates, offering huge opportunities for savvy fast-moving consumer goods (FMCG) marketers, according to a report by market research company GlobalData.
Consumers globally are increasingly health conscious—they want healthier ingredients in food and drinks, with lesser sugar content. Transparency in where ingredients are sourced is also key in gaining consumer trust and loyalty, as sustainability in the products they purchase are important to them. Tom Vierhile, director of innovation insights at GlobalData, shares his views on how the health & wellness trend and changing consumer tastes are driving the confectionery and snacks market.
Manufacturers need to consider the wellbeing impact of their products to target sensory-seeking yet health-conscious consumers, according to market research agency GlobalData.
The market was valued at US$83.4 billion in 2016, representing a CAGR of 3.5 percent, according to market research agency GlobalData.