SHILPA TIKU WELLBEING, STRESS MANAGEMENT, AND VEGANISM TRENDS ARE THRIVING 56
Wellbeing, stress management, and health are all prompting a continued evolution of new products and services to help soothe unstable, constantly connected lifestyles. Consumers have been feeling more anxious than ever, with Americans among the most stressed in the world, according to a 2018 survey by Gallup. Veganism is Thriving – The food industry is responding en masse to this market. Sales data finds quarantine living has boosted demand for vegan products. US sales of fresh-meat alternative products increased year-over-year (YOY) by 297.1% for the four-week period ending on April 4, compared with a 59.3% boost for fresh meat, and a 69.7% rise for processed meat (Nielsen, 2020) Shoppers are also flocking to beans, a vegetarian staple, with dried bean sales up 230.5% YOY for the week ending March 14 (Nielsen, 2020). “People are fed up with eating unhealthy foods, which companies have laden with artificial flavors, sweeteners, or chemicals,” explains Alex Santoro, co-founder of Genesis. “Also, the conventional factory farming model is shocking—even the biggest meat-eater would probably agree.” Beyond ethics, consumers are also starting to correlate diet with long-term healthiness and with protecting themselves against chronic disease. “Recent studies have suggested that eating more plant-based food can reduce the risk of certain cancers and heart disease, currently our two biggest killers,” says Santoro. Another example of consumer-led change is the shift away from foods with added sugar. 3D printing - After being inspired by Star Trek’s food Replicator (a machine able to synthesize food on demand), Nestle is currently working on their own machine that can create meals and/supplements with the exact amounts of minerals and vitamin D. The NIHS (Nestle Institute of Health Sciences) is working on the project “Iron Man” with a team of 110 people currently researching 3D printing and links between mineral and vitamin deficiencies and illnesses, such as cancer and diabetes. The goal is to potentially create a machine that can tailor supplements that fit individual customer requirements. The machine could possibly 3D print the mixture into real meals, enhanced liquids, or powders. Manufacturers of nutritional products have been marketing their products with advertised health claims, which attracts health-conscious consumers. The increase in marketing and promotional initiatives will positively influence the growth of this market. – note Shilpa Tiku, Chief Research Officer and Partner at Verify Markets
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