Kuala Lumpur―Tetra Pak, a world-leading processing and packaging solutions company, released key findings and insights from its full report, Trendipedia 2023. The annual global report monitors changes in consumer behavior, identifying and analyzing interesting consumer trends and opportunities for businesses in the food and beverage industry to take advantage of.
“The world is always evolving, and we continue to be faced with emerging new trends. At Tetra Pak, we believe innovation is the answer, and through a collaborative approach, we gather customers, industry partners and experts, to tackle the most challenging issues in our industry,” said John Jose, marketing director of Tetra Pak Malaysia, Singapore, Philippines and Indonesia.
“We remain committed in playing our part to develop breakthrough solutions that will help shape a more sustainable tomorrow for people on our planet. The Trendipedia report holds many insights that can help our customers improve any dimension of their business and drive performance,” he said.
In the post-pandemic times, many have seen macro-level changes resulting in supply chain disruptions, pricing increases from inflation and labor shortages that have caused businesses to scale back services. This has caused consumers to rethink and change their ways.
“These days, consumers are setting new priorities and standards regarding where and when they use their money impacting their spending habits. As a result, companies need to be more creative in attracting consumers to choose their products today,” said Billie Ing, Global Head of Trends and Foresight at Ipsos Strategy3.
According to the latest report, the main trends in Malaysia, Singapore, Philippines and Indonesia are ‘Flexi-shopping,’ ‘In Control,’ and ‘Eatertainment.’
Flexi-shopping refers to consumers that are living with a flexible mindset, cutting back where needed but treating themselves occasionally, especially where there are perceived additional benefits around health or sustainability.
“Despite rising inflation, Southeast Asian consumers say that health benefits and natural ingredients are more important factors than price, in determining if the food or beverage is of good value. Here, the ready-to-drink (RTD) category provides consumers with a convenient, accessible, and affordable way to drink beverages. This category continues to be popular due to its convenience and health-conscious varieties, supporting consumers with health-focused lifestyles,” said Jose.
The In Control trend refers to how consumers are using the way they eat and drink to bring a feeling of control to their lives. The choice of whether to indulge or moderate their consumption can help people take their physical health into their own hands. In recent times, consumers have been embracing plant-based options in their diet to support a healthy living, and this trend shows no sign of slowing down.
On Eatertainment, some are looking to be entertained as they dare to try new flavors, recipes and trends from cyberspace. The food community is filled with Gen Zs, gamified, and creative consumers, empowered by social media. In Singapore, 54 percent of millennials and 53 percent of Gen Z experienced virtual gaming and played immersive open-world video games2.
“To reach new segments of consumers, brands should consider exploring online and entertainment platforms that are growing in popularity. Social platforms such as TikTok have become a source of recipe inspiration for consumers to discover, experiment and share their food experiences. Moreover, social influencers and content creators play a key role in spreading information about the latest food trends,” added Jose.