Innova Market Insights Survey: Consumers say health should be the #1 driver of future food and beverage product development

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Jul 06, 2023, 10:00 ET

At all ages and income levels, consumers prioritize health over affordability

AMSTERDAM, Netherlands , July 6, 2023 /PRNewswire/ -- Despite the current global atmosphere of financial uncertainty, consumers surveyed recently by Innova Market Insights, a global leader in market intelligence for the food and beverage industry, say that health should be the key driver of future food and beverage product development. Additionally, consumers prioritize health over affordability.

"Health benefits remain at the top of the list for consumers, even in financially challenging times," says Lu Ann Williams, global insights director at Innova Market Insights. "Consumers we surveyed in the US and around the world are sending a clear message that health is the number one driver of food and beverage purchases, ahead of factors such as affordability, flavor, and naturalness." Williams points out that nutrition rises to the top in a number of measures of consumer sentiment around health and wellbeing, with three in five consumers surveyed globally saying that healthier living also means following a healthy and nutritious diet.

Interest in functional nutrition is on the increase in many countries, with growing numbers of consumers globally, including in the US, saying they choose products that positively boost nutrition, immunity and (gut) health. In addition, nearly 25% of consumers agree that functional ingredients that boost physical or mental health are worth paying more for. However, Williams stresses the importance of innovative nutritious options that also are affordable. "Three in five North American consumers surveyed by Innova in 2023 report that they are looking for simple and more affordable nutritional solutions to meet their needs, and nearly half agree that it is difficult to eat healthily because nutritious foods are less affordable."

Innova takes an Insights 360° holistic approach that combines consumer data with intelligence on category, product, ingredient, flavor and packaging innovation. "We are actively watching the marketplace for the next generation of functional foods, beverages, supplements, and ingredients that offer to help consumers cope with the challenges of the future," says Williams.

The world's biggest B2B food innovation event, the IFT FIRST Annual Event & Expo, kicks off on July 16, 2023 at McCormick Place in Chicago. Innova Market Insights will be there at booth S1175 to present new data on key consumer trends driving the industry. Responding to this year's IFT FIRST 2023 theme – Innovation in a Time of Crisis: Can We Future-Proof the Food System? – Innova will share with show attendees its multi-level view of the latest insights, from changing consumer attitudes and category trends to new ingredients and packaging dynamics. In-booth presentations include strategic overviews of top trends for 2023, flavorful variety, innovation drivers in nutrition, positive benefits in a healthy diet, new sugar strategies, and generational differences in consumer attitudes and behaviors.

For more information about Innova Market Insights, please visit: www.innovamarketinsights.com

About Innova Market Insights

Innova Market Insights is a global leader in 360 Insights market intelligence for the food, beverage, beauty, personal care, and household goods industries. The company works with many of the leading companies around the world, helping them to navigate the evolution of fast-moving markets today and in the future. Founded in 1994, Innova has built its reputation on its extensive tracking system for new food and beverage product launches in 90 countries. With its advanced data analytics, Innova converts industry-leading market research into meaningful guidance on present and future trends in FMCG.

SOURCE Innova Market Insights