Trends

Global food industry, the new top category and why it matters

Study says to forget Millennials because 6-year-old children are the new booming business

Once upon a time there were Millennials, now the global food industry must consider the generational influence of the millennial parent on the children’s food and beverage market, International studies say. “It’s the circle of retail life,” explained David Sprinkle, research director of Packaged Facts. “Child demands product, parent learns about product through child, household begins using product, child ideally grows up to encourage his or her own household to use said product, at least until their own kids start making requests.”Accounting for 42% of all households with children last year, millennial moms and dads are expected to represent an even larger portion of the parent population for years to come. Although Millennial’s make up a large share of lower-income households, this consumer group is more likely to pay more for products that appeal to their values of transparency, authenticity, and quality. Specifically, millennial moms prefer buying foods that are perceived as natural with no artificial ingredients, Packaged Facts noted.

HEALTHY TRENDS IN THE CHILDREN’S F&B INDUSTRY – In response to the rising prevalence of obesity in recent years, many food companies are reducing sugar and sneaking fruit and vegetable servings into child-friendly products such as pastas, pizzas, bread, smoothies, and desserts. And then there’s the so called ‘real food’ idea, bolstered by such buzzwords as ‘clean’ ‘local’, and ‘organic’. Such attributes may be particularly important for product categories, such as ready-to-eat cereal and fruit snacks, which penetrate high in households with children. Developing products for children is particularly challenging because companies must appeal to both the buyer and the end consumer, the parent and child, respectively. This is the ultimate goal in the upcoming years.

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