Mintel launches annual Asia-Pacific Food and Drink Landscape
Mintel has launched Asia-Pacific: The Food and Drink Landscape featuring the latest market research, product innovation insights, and consumer trends from across the region.
The COVID-19 pandemic, social distancing measures, and economic shutdowns have resulted in new consumer habits and attitudes towards food and drink. These shifts have amended and amplified the development of global food and drink industry. Latest research from Mintel’s food and drink analyst team paints a picture of changing consumer behaviours and attitudes due to the pandemic, trends shaping the sector, and future opportunities for brands.
Michelle Teodoro, associate director, food and drink and food science, Asia-Pacific, Mintel, said: “The Food and Drink Landscape takes a look at shifts in consumer behaviour and evolving trends shaping today’s food and drink market, including the impact of the pandemic, and delivers analysis, insights and recommendations on what it all means for companies and brands in Asia-Pacific. With our sights trained on the future, our research offers a full view of the marketplace to enable better strategic decision making and understanding of what consumers want and why.”
Key findings from Mintel’s Asia-Pacific Food and Drink Landscape include:
Consumers are redefining convenience
Consumers across Asia-Pacific are increasingly adopting products and services that offer a higher level of convenience, further accelerated by the advent of COVID-19.
Globally, consumer interest in air fryers increased during the COVID-19 period as people cook and bake more at home amid the pandemic. According to Mintel Global New Products Database, the launches of food products globally with the description of “air fryer” saw a five-fold rise between June 2017 and May 2020, driven by South Korea.
Rising interest in health and wellness
The persistence of COVID-19 in the Indian market has exposed critical truths related to health and wellness, and put a spotlight on how consumers’ dietary and lifestyle choices matter. Mintel’s Global COVID-19 Tracker showcases consumers’ focus on preventive health and mindful eating, indicating the potential for disruption in the food and drink space.
Furthermore, the preference for natural, simple and flexible diets had led consumers to seek more fruits, vegetables and other plant-based ingredients within the products that they purchase. The rise in plant-based diets can be attributed to heightened concerns for animal welfare, the environmental impact of intensive animal farming and also health reasons.