Buying betterment - How health and wellness is driving growth in the food and beauty markets
Consumers are more knowledgeable about health and wellbeing than ever, demanding more, not less from the brands they buy. With insight from Leeds Trinity University, vitamin and supplement brand Prime Fifty, and our own internal experts, this paper covers key trends and thought-provoking insight to help you take advantage of this growing trend.
These days health is a hot topic and a growing global concern. We’re all living longer and yet our waistlines are expanding, with over 27% of the UK population classed as overweight. In the US the figure is a whopping 39%. Consumers are more aware of their own personal health challenges, becoming amateur health experts and they’re not willing to compromise. It’s less about quick fix fad diets with tasteless food and now about choosing where to make sacrifices and where to indulge. Innovative brands and retailers must respond to help consumers make better and more informed lifestyle choices.
The health and beauty sector is set to be the fastest growing sector in the next five years, with GlobalData predicting the annual spend per consumer to rise from £73 to £487 by 2022. What happens in food inevitably spreads into the health and beauty market. ‘Superfood’ ingredients are moving out of our kitchen cupboard and in to our bathroom cabinets. Consumers are becoming more knowledgeable about ingredients and drawing their own conclusions around the benefits beauty products will give them.
The next big thing
Hydration, heart health, digestion, energy levels and blood sugar levels are big on the news agenda and influence consumers every day. We see big opportunities for brands and retailers to offer healthier options to address these consumer concerns. The key thing to watch out for here though – your consumers will demand more, not less when it comes to taste, texture and convenience.
Four meals a day
Squeezing a fourth meal into the day is becoming more and more acceptable; a change in daily eating habits will bring about a big change in consumer shopping habits. 17% of shoppers said they would eat more food on the go if healthier options were available. In response to this demand, Pret in the UK has introduced new customers to vegetarian lunches and breakfasts on the back of the ‘flexitarian’ trend. We explain more in chapter 3 of our whitepaper.