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Consumer trends report industry canada research paper

The most distinctive change in the agri-food market over time has been the expansion of choices in the number and type of food and beverages available to consumers.

This growth has been spurred mainly by advances in information and communication technology. In addition, trade liberalization, regulatory reforms, research and development have all contributed to this situation as well.

When product diversity increases, agri-food markets become more complex and competitive.

2018 retail, wholesale and distribution industry trends outlook

To survive in this competitive market, agri-food business owners need to innovative. In this context, it is important to understand consumer trends. Therefore, this issue explains how to better understand the consumer and the tools that one can use to understand them.

Some of the noteworthy consumer market trends are also presented to help innovators understand the current agri-food market. Consumer trends in the context of innovation There is a constant flow of new products and services into the market these days.

Chapter 2 – References

In this situation, it is hard to draw a meaning behind some consumer trends. However, understanding consumer trends is important for success in agri-business. There are a number of established ways to understand your potential consumers. A carefully designed survey can be used to ask consumers what they want. The major drawback to this method is that consumers do not always do what they claim they will do in a survey. In this method, researchers observe consumers in the field and try to understand them to develop deep insights on what consumers want.

The findings of this method are more reliable than the survey method. However, conducting ethnographic studies is slow and expensive since a lot of human resources are needed. The data collected through social media, search engines and scanner data all provide valuable information on consumer preferences.

  1. What this means for you Undertaking consumer market research and understanding consumer trends is a key step towards successful innovation and investment in agri-business. With technological advances and innovations, personalized diets are set to gain in popularity.
  2. Alternative and environmentally friendly ingredients such as macro algae seaweed , micro algae chlorella and insects as protein trends are also based on this sustainability mindset.
  3. However, understanding consumer trends is important for success in agri-business. The major drawback to this method is that consumers do not always do what they claim they will do in a survey.
  4. To survive in this competitive market, agri-food business owners need to innovative.
  5. Noteworthy Consumer Market Trends Changing Demographics In a fast-paced world, socio-demographic information is most useful in identifying and predicting consumer trends.

It is a great source for understanding what consumers are actually purchasing and how the market is really behaving. A challenge with this method is that given the sheer volume of information, a certain level of analytical capacity and expertise is needed to make sense of all the data. Additionally, the cost of obtaining this information or data is very high.

According to Trend Watching, this new methodology emphasizes the importance of looking at and analyzing innovations in the market. According to this model, although, our world is changing rapidly in terms of technology, environment and socio-economic conditions; the fundamental needs of human beings do not change much over time.

Normally, big innovators use external changes to unlock a new way to serve a human need or want.

  1. Their lifestyle and food behaviors are shaping our industry as well. The Millennial generation is made up of a variety of ethnic and cultural backgrounds and is driving trends around ethical food choices and sustainability.
  2. People are concerned about the massive waste we create and the amount of energy, time and materials that are put into this waste. Sustainability Trends Concerns about environmental sustainability is a mega trend that has been accelerating in recent years.
  3. Plant-based food trends are also on the rise.
  4. Sustainability Trends Concerns about environmental sustainability is a mega trend that has been accelerating in recent years.
  5. Trans fat free, sugar free, gluten free are examples of recent trends that have emerged and stayed in the marketplace.

These innovations then create new trends along with new customer expectations. For example, innovations in the food industry such as; drive-through restaurants, ready to eat meal offerings in grocery stores and healthy snacking options, all create new consumer expectations and new consumer trends.

Noteworthy Consumer Market Trends Changing Demographics In a fast-paced world, socio-demographic information is most useful in identifying and predicting consumer trends. Population trends and the composition of population, in terms of generations and ethnicities, provides useful information in understanding consumers.

For example, lifestyle differences between generations and their attitudes translates into distinct preferences and expectations when it comes to their food choices. Studies of different generations show that the aging population is driving health and wellness trends in the agri-food industry. The Millennial generation is made up of a variety of ethnic and cultural backgrounds and is driving trends around ethical food choices and sustainability.

The youngest group, Generation Z is driving trends related to technology. Understanding generational differences along with their expectations and their potential in resulting trends can help agri-food businesses be successful innovators.

Profile of generations in Alberta, 2016 Source: Statistics Canada Increasing ethnic diversity is another area that innovators should focus on. Southeast Asian and Filipino visible minorities are considerably higher in Alberta as compared to Canada as a whole.

Their lifestyle and food behaviors are shaping our industry as well. For example, various ethnic food habits have implications for food processors and producers.

Health and Wellness Trends Increased awareness of health and wellness has completely transformed food demand and shifted eating habits. The demand for specialty, natural and organic products remains strong and continues to generate high profits for food manufacturers.

  • On-line shopping will grow as consumers are looking to reduce time and energy spent shopping;
  • There are a number of established ways to understand your potential consumers;
  • In this situation, it is hard to draw a meaning behind some consumer trends;
  • In this situation, it is hard to draw a meaning behind some consumer trends.

Trans fat free, sugar free, gluten free are examples of recent trends that have emerged and stayed in the marketplace. A number of functional foods targeted to various consumer groups are always in high demand. Plant-based food trends are also on the rise.

Consumer Corner: Understanding Consumer Trends and the Push to Innovate

Vegan very strict vegetarian diets and flexitarian diet on and off type of vegetarian diets trends can now be observed in the marketplace. Consumers have been told about the benefits of eating breakfast.

Recognizing this, fewer people are skipping this meal and consequently consumers are looking for more than bread and cereal.

People are looking for protein-rich breakfast foods, including yogurt and nuts. Increasing demand for gluten free, probiotics, and healthy snacks all create opportunities to be innovative. With technological advances and innovations, personalized diets are set to gain in popularity. People will be able to scan their DNA to help develop a personalized diet.

They can use on-line filters to assist them to choose between organic foods, reduced sodium items or products that will help lower their carbohydrate intake.

These types of technological tools will be used by more consumers in the years ahead. According to a recent research study, 33 per cent of Canadians are willing to pay a premium for health enhancing products indicating that there are opportunities to be innovative in a premium healthy food market. By 2031, twenty five per cent of Canadians will be over 65 years old.

This means healthy eating trends will accelerate. Sustainability Trends Concerns about environmental sustainability is a mega trend that has been accelerating in recent years.

  • To survive in this competitive market, agri-food business owners need to innovative;
  • It is a great source for understanding what consumers are actually purchasing and how the market is really behaving;
  • For example, innovations in the food industry such as; drive-through restaurants, ready to eat meal offerings in grocery stores and healthy snacking options, all create new consumer expectations and new consumer trends;
  • According to a recent research study, 33 per cent of Canadians are willing to pay a premium for health enhancing products indicating that there are opportunities to be innovative in a premium healthy food market;
  • Therefore, this issue explains how to better understand the consumer and the tools that one can use to understand them;
  • The findings of this method are more reliable than the survey method.

Alternative and environmentally friendly ingredients such as macro algae seaweedmicro algae chlorella and insects as protein trends are also based on this sustainability mindset. Recently, waste management has gained more consumer attention.

People are concerned about the massive waste we create and the amount of energy, time and materials that are put into this waste. Due to this increased consumer scrutiny, product and service innovations around waste management and waste reduction can be expected.

  • Profile of generations in Alberta, 2016 Source;
  • On-line shopping will grow as consumers are looking to reduce time and energy spent shopping.

Technological Trends The skyrocketing use of smartphones among Canadian consumers and frequent social media use have created new trends that impact food markets. According to market research, nearly eighty per cent of Canadians owned a smartphone in 2016. This has created new customer expectations for convenience, authenticity and personalization and has challenged the way companies do business.

On-line shopping will grow as consumers are looking to reduce time and energy spent shopping. Hand held food scanners inside the stores that allow users to get the nutritional value and ingredients of foods also appear set to rise in popularity.

The 3D printing technology will help consumers to personalize food with respect to nutritional value and ingredients, flavour, texture and size. What this means for you Undertaking consumer market research and understanding consumer trends is a key step towards successful innovation and investment in agri-business.

There are a number of methods that can be used to better understand consumer trends. Changing demographics and changing mind-sets of consumers in terms of health and wellness, convenience and sustainability are creating many trends that agri-food producers and processors can capitalize on.

Healthy eating trends around the World.