With consumers’ dietary preferences continuously evolving it has always been important for those in the food industry to keep track of what is trending and how to position products. The rise of e-commerce, accelerated by Coronavirus (COVID-19), has also made food claims more visible to consumers; Euromonitor International’s Digital Consumer Survey reveals that 48% of global respondents typically purchase food and beverages online via computer, smartphone, tablets or other devices.
But whilst some food claims are a matter of marketing, others require longer-term investment and a broader strategy to be effective. We look at the top five strategies that food companies are using to boost their longer-term growth using product claims.
1. Become better-for-you
Selling healthier food has been a pillar of growth for many food companies over the past few decades. Nestle, for example, has very much set the tone for the industry by aiming to provide healthier and more nutritious products within its portfolio. Food companies such as Nestle have invested heavily in healthier products by exploring ways to add more vegetables, fibre and wholegrains whilst reducing the amount of sugar, salt and saturated fat. The three most prevalent health claims globally in 2019 were No Sugar, Antioxidant and Low Fat according to Euromonitor International’s Product Claims and Positioning database.
Reformulating food whilst matching consumers’ expectations of taste, however, requires time and resources which is why many have sought to fast track their route to becoming a better-for-you company through acquisition. A high-profile example is PepsiCo, which has demonstrated an appetite for acquiring healthier snack brands such as Bare Snacks and Health Warrior.
2. Pivot to plant-based products
A more recent strategy within food claims has been on plant-based products. Despite initial concerns over how COVID-19 might affect consumer demand for this trending set of food claims, sales of plant-based products have seen a further acceleration. This is not only driven by the fact that several slaughterhouses have become coronavirus hot spots, but also because the health and sustainability halos around plant-based products have remained top of mind for consumers.
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