Impact on Food and Beverage Innovation – Coronavirus (COVID-19) Case Study

Summary

Recent food and beverage launches share some common threads. A study of innovative food and beverage launches in GlobalData’s Product Launch Analytics database since January 2020 reveals some significant similarities. For example, there is a distinct focus on immune-boosting products, more diversity in plant-based offerings, and unique solutions for home cooks.

The scale and impact of the global health crisis has forced consumers to view certain issues (e.g. mental health, animal welfare, cooking from scratch) in a new light. This is inevitably influencing product choices and food and beverage innovation strategies, as manufacturers attempt to adapt to rapidly shifting priorities.

Scope

– Consumers recognize that a key component of health, and the ability for the body to safeguard against diseases, is a strong immune system. Given that improving nutrition can help support optimal immune function, food and drink manufacturers have introduced a range of products that offer immunity support.
– The rise of plant-based dairy alternatives was evident even before the outbreak of COVID-19. For many consumers, heightened concerns regarding animal welfare stemming from the pandemic have only highlighted the appeal of plant-based dairy alternatives.
– As city-wide lockdowns have led to widespread restaurant closures and confined a significant proportion of the population to their homes, consumers have inevitably spent more time in their kitchens preparing meals. In fact almost half (49%) of respondents report spending more time cooking or preparing food at home since the outbreak.

Reasons to Buy

– Identify the reasons underpinning consumers’ evolving approaches to food and beverage consumption and product choices.
– Gain insight into the key consumer trends that are most likely to drive innovation.
– Put innovative products into context by connecting them to specific consumer trends and preferences.