“Dairy dominates premium NPD in Northern Europe.
In the US, where the dairy culture is less strong, bakery and soft drinks are proving more dynamic.” Growth Strategies in Premium Food & Drinks At a time of increasing pressures on manufacturers and retailers due to price and channel competition, premium offers opportunities to raise margins, add value to declining categories and create new consumption occasions.Premium is proving one of the fastest growing areas in food and drinks and unlike other food trends, such as nutraceuticals, is not regionally specific.
Although differences exist between countries, the concept of high-quality and indulgent foods holds universal appeal.
Where premium once implied gourmet, and products were only available through select retailers, high quality premium products are now becoming increasingly mainstream.Premium can be seen in the context of other trends, principally in healthy eating and convenience foods.
Premium food should be viewed in the wider context of growing sophistication amongst consumers not just regarding food but in all aspects of entertainment and the use of leisure time.
KEY BENEFITS- Examine how changing socio-economic factors and cultural trends are driving the demand for premium food and drinks (including bakery & cereals, dairy, snacks,confectionery, soft drinks, organics and ready mealsand how they feature in the context of global food trends.
- Identify the key areas of growth in premium by category in Europe and the US and recognize the trends and key opportunities available to manufacturers.- Understand how NPD trends in ingredients, branding and packaging are being developed by manufacturers to segment premium.- Analyse the key manufacturer and retailer drivers that are defining the premium market for food and drinks and learn best practice strategies.- Evaluate how the industry views future developments in the premium market, examining issues such as distribution, brand platform and consumer type.