While the advanced economies of the world (US, Europe, Japan) are growing only by about 1-2% per year, the emerging economies are growing by 5-10% annually. Insights into these emerging markets, broken down by product sector, will be invaluable to those manufacturers looking for areas of growth. This report examines attitudes relating to the purchase and consumption of food and drink products.
- Identifies the top opportunities across the food and drinks sectors and 15 emerging markets in Asia, Latin America, and Africa and the Middle East.
- Highlights key economic, cultural and other variables affecting product purchasing behaviors in each country.
- Analyzes consumer attitudes such as international versus local brand preference, spending priorities and areas of unmet need.
- Benchmarks the readiness of consumers to purchase new and better products, by category and country.
- Showcases examples of innovations that have successfully tapped the identified areas of opportunity.
Reasons To Buy
- How do brand preferences vary across product types and countries and how should this information be applied to market entry and innovation strategies?
- As their income rises, what types of product and service are being given highest spending priority by consumers in emerging markets?
- What percentage of men versus women personally buy food and beverage products in each of the emerging markets?
- How do variables like ethnicity, religion, education, sanitation and so on impact consumer purchasing behavior across the emerging markets?
- How satisfied are consumers with the products available to them and how can areas of dissatisfaction be targeted with new products?
Across the EMs as a whole, about 75% of consumers say they prefer local food brands over international names. However, about 75% also say they trust international brands as much or more than local brands. International brands need to make a specific effort to justify their price by defining the attributes that make them higher quality.
Key marketing opportunities for food brands include: Halal foods for the predominantly Muslim countries; low cost, high satiety and/or basic nutrition foods for the vulnerable EM consumers whose break from poverty is more recent; and a greater variety of higher quality foods for the higher income EM shoppers who can afford to and want to trade up.
Significantly more men than women buy alcoholic beverages, particularly in Vietnam and Thailand, suggesting that men need to be the primary target for marketing. Chile is notable for having the highest percentage of women, and almost as many women as men personally buying alcoholic beverages.
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