As food companies navigate increasing input costs, especially in oils and fats, their innovations remain centered on health and wellness as consumers are prone to spending more on healthier foods. There has also been a growing focus on products that cater to consumers busy lifestyles, emphasizing the importance of satisfying cravings while also supporting overall well-being. As such, health and convenience have become the key focus areas for packaged food companies in the Asia-Pacific (APAC) region, says GlobalData, a leading data and analytics company.
Bokkala Parthasaradhi Reddy, Lead Consumer Analyst at GlobalData, comments: “Despite the economic pressures from inflation, there is an increase in consumer focus on healthy foods. The World Health Organization (WHO) has linked processed foods, especially ultra-processed foods, along with tobacco and alcohol, as contributing to global health issues and the death of millions. In addition, advocacy groups are clamoring for labeling ultra-processed foods in the same category as tobacco and alcohol. Given these trends, food companies are focusing on healthy foods to attract consumers and sustain their revenues.”
Deepak Nautiyal, Consumer and Retail Commercial Director, APAC and ME, GlobalData, notes: “The appeal of healthy foods remains strong despite the rise in prices of most products. Food innovation is gravitating to healthy and convenient products as companies try to align their products to consumers’ health goals and busy lifestyles. One such example is Mission’s Protein Wholemeal Wraps launched in Singapore and Malaysia. Boasting plant-based
