Health and Convenience to be Core Focus for APAC’s Food Companies as GlobalData Suggests
As food companies in the Asia-Pacific (APAC) region are facing increasing input costs, particularly for oils and fats, innovations are increasingly being centered around health-conscious and convenient products. According to GlobalData, a leading data and analytics company, consumers are prioritizing healthier foods and convenience, despite inflationary pressures, which is driving companies to focus on satisfying cravings while promoting overall well-being.
Healthy Eating in the Face of Economic Challenges
According to Bokkala Parthasaradhi Reddy, lead consumer analyst at GlobalData, demand for healthy food continues rising even with the economic challenges of increasing food prices. This trend is partly facilitated by increasing public concern about the health implications of processed foods, especially ultra-processed ones, associated with chronic diseases and early deaths. Even the WHO has sounded alerts about processed foods by advocating stricter labeling in the manner of tobacco and alcohol.
Responding to this trend, companies involved in the food business have focused on preparing healthier food for attracting customers to retain the inflow of income. Since health-consciousness demands healthier products among consumers, they align their productions according to these consumers’ choices.
Health Foods for Convenience and Innovation
The core focus is still health, but convenience is not to be left out. According to Deepak Nautiyal, consumer and retail commercial director for APAC and ME at GlobalData, food innovation now gravitates towards health benefits plus convenience. Such is the case of Mission’s Protein Wholemeal Wraps in Singapore and Malaysia. These wraps offer plant-based protein and fiber, appeal to a host of dietary choices (vegan, vegetarian, halal), and are artificially flavored-free, sugar-added-free, and overall easy, great food.
In the same way, Freshippo’s 4.0 Fresh Milk in China showcases membrane filtration technology for a high-quality, nutritious dairy product. The milk is nutrient-rich while ensuring an improved taste. It has 4g of protein and 130mg of calcium per 100ml, catering to the customer demand for clean, high-quality dairy products.
Consumer needs: Health, finance, and convenience
According to GlobalData’s consumer survey, consumer concerns are two-sided. While 55% of respondents are highly concerned about their personal finances, 49% are equally focused on their physical fitness and health. The survey also shows that convenience is becoming a major factor in purchasing decisions, with 85% of respondents indicating that time-saving, easy-to-use products are essential or highly desirable.
As a response to this, companies such as CJ Foods have introduced products like Yangnyeom Chicken in Indonesia, which is a Korean fried chicken variant seasoned with a sweet and sour sauce. The product is halal-certified, targeting consumers looking for flavorful, convenient meal options that fit into their busy lives.
Adapting to the Changing Market
Reddy concludes that the attitudes towards health and convenience are causing an up-shift in consumer preference in the market for packaged foods. Today, an active and increasingly health-conscious lifestyle calls for functional foods that support wellness alongside hectic lifestyles. This shift enhances not only the potential to increase consumer loyalty but also the expansion of customer franchises for food brands which develop products that are supportive of the needs of these modern health-conscious, convenience-driven consumers.
By responding to the increased need for healthy and easy-to-eat food products, those brands across APAC can maneuver into the increasing demand for health-conscious and easy-to-eat food products.
