Trend Tracker: Mondelez snacking, coffee innovation, novel tea trends and more feature in our round-up
Mondelez snacking insights: Brand familiarity and indulgence crucial drivers for AMEA industry growth
Snacking giant Mondelez International says the familiarity of brands as well as consumer demand for indulgence in their daily diets are key drivers for snack market growth in the AMEA region.
Mondelez released a version of its State of Snacking 2022 report findings specific to the Asia Pacific, Middle East and Africa (AMEA) region, which FoodNavigator-Asia has viewed, with several key insights focused on consumer purchasing behaviour in this region.
One of its key findings was that brand familiarity is incredibly important to AMEA consumers, with many willing to put in extra effort to gain access to favourite, familiar snacks.
Caffeine culture: Nestle, Suntory among coffee brands highlighting localisation and RTD innovation as key drivers
Coffee consumers in the Asia Pacific region are increasingly making purchasing decisions that are driven by by localisation and ready-to-drink format innovation, according to industry heavyweights such as Nestle, Suntory and Movenpick.
In this edition of the FNA Deep Dive, we have spoken to several of the biggest coffee brands as well as industry-leading trailblazers in the APAC region, in order take a closer look at the most significant trends driving the growth of this longstanding beverage sector.
Tea is trending but novel innovation needed to entice younger consumers – Unilever, Asahi, YATE insights
Tea-based beverages are emerging as a growing trend in APAC, but manufacturers need to integrate novelty and excitement into their beverage innovation in order to attract and maintain the attention of younger consumers.
Brewed tea as a hot beverage has been a popular and traditional drink for many years in many parts of the world, including in many East Asian markets like China and Middle Eastern ones like Turkey, and continues to gain traction with consumers in many APAC markets.
Many brands are focusing a good deal of effort on innovating within the tea category in recognition of this varying from refreshing to functional options, including big brand names such as Unilever.
“Our Red Label brand has launched a new premium tea, especially designed for pregnant and lactating women,” Hindustani Unilever Ltd (HUL) CEO Sanjay Mehta said when discussing the firm’s innovation strategy.
Time to beef up commercialisation for cultivated meats with collaborative regulation – Australia’s Magic Valley
Australian cultivated meat start-up has detailed how it has been engaging with regulator Food Standards Australia New Zealand (FSANZ) as it looking to roll out its first product down under by 2024.
Since 2020, the Australian food technology company has been working on the country’s first cultivated lamb meat.
Mid- to end-last year, it announced its first prototype, which was a minced lamb product. Last month it unveiled its second prototype, a minced pork product to be incorporated into dumplings and wantons.
Ten times growth: NZ’s pea protein market to be fuelled by sports nutrition, infant formula, and alt meats – new report
New Zealand’s market for pea protein will grow 10-fold in the next decade, with key sectors being sports nutrition, infant formula, and plant-based dairy and meat alternatives, according to a report from trade officials.
New Zealand’s market currently stands at 530 tonnes, with 85% (451 tonnes) driven by the sports nutrition sector and 14% (74 tonnes) by alternative meats.
After experiencing a CAGR of 53% from 2010 to 2021, the market it is projected hit 5,500 tonnes – putting the country on par with Japan and Australia.