The personal care industry was worth over $460bn in 2010. But perhaps of greater interest to food and drinks manufacturers is the industry?s ability to increase its value on an ongoing basis. This report examines crossover trends in product functionality and sensory qualities to outline future opportunity for food and drinks manufacturers.
Features and benefits
- Be aware of the personal care trends that are most relevant for the food and drink sector and understand how these can add value and increase margins.
- Identify product examples that demonstrate the importance of multi-functionality.
- Identify product examples that demonstrate the importance of sensory benefits.
- Understand opportunities and applications of the sensory intelligence and multi-functionality trends.
- Recognize future product crossovers between the food and drink and personal care sectors.
Published: March 2012
No. of Pages: 62
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Highlights
In a recent evaluation of new product claims/tags, ?upscale? was the most commonly occurring for new personal care products, whereas it is was the 13th most common for new food and drink products. The personal care industry is consistently employing methods to justify a premium positioning for its products.
Although the value of the global personal care market is approximately nine times smaller than that for food and drink overall, it is growing at a faster rate: Business Insights predicts overall growth from 2009-2015 to be 21.9% for all food and drink, and 25.3% for personal care.
Many new skin care/foundation type products are promoted on multifunctional applications and benefits. These may include moisturizing, sun protection, whitening, anti-wrinkle, and other features. Multi-functionality in many food products is exhibited in terms of benefits rather than specific applications or characteristics.
Your key questions answered
- What are the key trends within the personal care market that offer opportunities to the food and drink sector?
- What food and drink product examples already exist that reflect the sensory intelligence and multi-functionality trends?
- What market opportunities exist in these trends?
- How can the food and drinks sector learn from the personal care industry?s use of product innovation?
- Why is sensory intelligence so important to the future of food and drink product development?
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