Since the 1990s we have seen consumer definitions of Health and Wellness shift from a reactive paradigm to a proactive wellness culture where ideas about what Health and Wellness is and how to achieve it have broadened to encompass nearly all aspects of consumers’ lives.
Healthy eating remains the center of most consumer philosophies of Health and Wellness. More consumers are experimenting with their diet, and free-from, low-carbohydrate and Paleo diets are on the rise. As they make dietary changes, mid-level consumers start by trading up to “better-for-you” versions of their favorite products, such as replacing soda with sparkling water and white bread with whole wheat. In the realm of “good” and “bad” carbs, sugar has become the worst carb. In the past six years, there’s been a 66% increase in the number of consumers who think carbs (including sugar) cause weight gain, according to figures from the International Food Information Council (IFIC).
Companies in the baking industry have the challenge of keeping up with America’s constant changing attitudes about wellness and food. For those who can though, there is a big upside. Trends in Health and Wellness along with increasing consumer purchasing power are two big factors driving growth for the Bakery and Cereals sector. Global Health and Wellness market for Bakery and Cereals accounted for US$54.9 billion in sales in 2017 and is projected to grow at a CAGR of 5.1% during 2017-2022.
Several companies have successfully responded to these changes by delivering differentiated products with ‘better carbs’ and have created unique brands that appeal to consumer need for authenticity.
This session will explore and share a road map that will enable companies in the Bakery sector to capitalize on the wellness trends. It will review opportunities and challenges within the top categories and will tie it all together at the end with clear strategies and ideas that participants can apply to their business plans.
- Understand the most impactful Health and Wellness trends that will continue to influence the Bakery sector.
- Obtain a broad overview of Health and Wellness opportunities and challenges within the top Bakery subcategories defining consumer wants/needs and product attributes driving demand. Case studies covering winning products and brands will be shared for each sub-category.
- Walk away with solid ideas for howbakery companies can capitalize on the Health and Wellness trends to differentiate their products and build their brands – and ultimately grow their businesses.
Geri Berdak, CloverQuest