The reshaping of food and beverage consumption
The evolving relationship between humans and food is changing demand and consumption.
When it comes to their favorite foods, consumers know what they want, as well as when and how they want it. Food and beverage companies need to understand why, as the evolving relationship between people and food is changing consumption patterns.
KPMG analyzed the latest signals reshaping food trends and identified six key dimensions that offer a pulse on changes in buyer behavior, plus one challenge. The results, based on both primary research and data analytics, can help the food and beverage industry better align investments, target marketing efforts and discover opportunities in time to gain table share in tomorrow’s changing markets.
The six key dimensions of food and beverage consumption today
Six dimensions driving food and beverage consumption
Lifestyle and values
The pandemic brought personal values into focus for many consumers, who are now applying them to the food they buy.
Wellness, immunity, and mental health
More people are exploring the mind/body/food connection, with changing views toward healthy eating.
Consumers want treats that satisfy cravings without sacrificing healthy eating goals.
Globalization and premiumization
Young, wealthy consumers increasingly seek to travel through their taste buds, and they want an authentic experience even if they don’t leave home.
Convenience vs sustainability
Demand is growing for easy access to food that doesn’t cost the environment, as younger consumers are increasingly likely to replace meals with snacks.
Extending brands into the metaverse
Companies that delve into this evolving virtual world will find willing consumers inside.
With unforeseen geopolitical risks leading the list of organizational challenges, companies are realizing that “dark swans” are lurking everywhere. They are factoring geopolitics into their risk planning, on-shoring or near-shoring more functions, and building resilience into their supply chain and foreign exchange processes.
Do you plan on changing your purchasing behaviors to mitigate rising prices, and how?
Cross category average(b)
KPMG Consumer Pulse Survey, May 2022. Respondents were allowed to select more than one option, therefore, percentages total more than 100%.