Personalisation’s appeal is intensifying as modern consumers demand greater convenience and efficiency. Increasing awareness of the importance of nutrition for general health invites businesses’ innovations to create more granular tech solutions that not only take into account individual lifestyles but also analyse one’s body biomarkers. Although zooming into indicators such as DNA attracts investments, consumer surveys indicate growing reservations to share deeply personal data.
This report comes in PPT.
The personalisation trend approaches the market in three stages ranging from mass customised products to hyper-tailored solutions based on individual markers. Personally appealing novelties, however, are usually accompanied by a higher unit price tag, which in times of strong economic uncertainty may significantly limit demand as households have to re-evaluate their expenditure patterns. Therefore, while setting future objectives, food tech companies should consider simplifying consumer onboarding, without instantaneous challenge to their wallet.
For the mass personalisation trend to be thoroughly successful, it requires modern manufacturers to closely follow and precisely adhere to changing consumer lifestyles. Therefore, potent novelties strongly feature product fortification that addresses daily consumer issues, such as stress, interrupted sleep, or digestion. Also, zooming in on diets, social clusters or age groups allows businesses to stand out and develop closer engagement with certain consumer groups.
Digital wellness is becoming a new playground for businesses and consumers to find additional touch points, so that daily product choices enrich one’s wellbeing without extra effort. Currently, snacks category demonstrates a strong lead as snacks brands build adaptable portfolios and embrace apps and online questionnaires to identify best product matches for each customer. In addition, as the digital wellness market is highly fragmented, strong future growth is foreseen as such context permits easy entry for new players.
Consumer focus on micronutrients in their daily diet encourages demand for premium novelties that test individual body markers to generate deeply personal, optimal diet recommendations. Although advancing technologies are better equipped to address a broader range of consumers’ nutrition concerns, scaling such detail-orientated solutions may be complicated due to their high price. In addition, the growing privacy paradox will challenge and inevitably require new food tech businesses to provide more clarity on data collection and use. Addressing privacy concerns is anticipated to become one of the key future corporate responsibility considerations.
NOTE: Couscous, polenta and quinoa are excluded from staple foods.
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