From the Pret at Home coffee and croissant range, recipe boxes like Mindful Chef, to finish-at-home food like Pasta Evangelists, lockdown prompted a significant growth in the ‘premiumisation’ of brands. Notably, it was also accelerated by the proliferation of budget and at-home options, that allow these ‘premium’ products to be more accessible to consumers. In fact, the premiumisation trend is predicted to keep growing and accelerating in 2021 and beyond with 74% of global consumers in 2021 having stated that they enjoy food and drink products with new and unusual or exotic flavours.
Why is the premiumisation trend accelerating?
According to Forbes, it is no surprise that the Covid-19 pandemic has played a large role in the acceleration of the premiumisation trend we are seeing today. Factors such as, an increase in cooking at home, having little to no travel and very limited entertainment options has led to this consumer desire to break the monotony of routine, and engage in new experiences. To meet this growing demand, food and beverage manufacturers have become more creative and ambitious with the development of their products.
Kesha Allen, Communications Manager at Treatt explains that: “The ready-to-drink market has completely exploded during the pandemic as people wanted to enjoy those things that they were enjoying in the pub or in a coffee shop at home. Beverage trends across retail and food such as ‘naturalness’, ‘functionality’ and ‘premiumisation’ of brands are increasingly becoming the big hitters amongst customers and what is driving significant innovation within the industry.”
How is it possible to meet the rising premiumisation trend?
Treatt, one of Food Matters Live’s Global Thought Leaders at the upcoming 16-17 November event, is a prime example of industry experts that are meeting this increase in demand within the sector. Treatt has been extracting natural ingredients since 1886, a process that allows them to support their customers when it comes to them requiring 100% natural classification, as they have an extensive product portfolio which can support these needs.
Lamia Gaman, Applications Manager at Treatt, comments: “We’re constantly scanning consumer trends to understand what new flavour combinations are on the horizon and we have certainly seen the emergence of an adventure‐seeking trend as a result of the pandemic. Using our unique technologies, we can create extracts, flavours and distillates that fit with any existing or future trends.
“In the case of the exotic, adventurous movement, we looked ahead to produce some items that are already becoming well‐established now, such as yuzu, blood orange, pomelo and chipotle. All of these extracts and flavours offer something a little bit different but with the reassuring link to health benefits.”
What’s the future of premium ingredients within the beverages sector?
Over the last year and a half, the health and wellness sector has become more important and prevalent as the pandemic has highlighted the importance of such. As a result, more niche ingredients are increasingly being developed as looked for as a means to include in beverages and meet this growing trend. A prime example of an ingredient which is shelf-known and holds an abundance of health benefits which is increasingly being used in beverages is kombucha. The addition of kombucha to drinks allows these beverages to pertain to premiumisation and meet today’s consumer needs. In fact, Kesha from Treatt reports that “consumers are really looking for those unique and different ingredients which enhance a beverage and are happy to pay a slightly higher price for these.”
Where can you learn more about Treatt and trends?
You can discover more about Treatt, current beverage sector trends and much more at your Food Matters Live event this 16-17 November where this forward-thinking brand will be speaking as one of your Global Thought Leaders.
For a Global Thought Leader session of your own, contact David, our Head of Client Relations to discuss whether your company could be a fit for Food Matters Live here.