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The total spent in foodservice in 2016 equals USD3.8 trillion and is set to continue growing at a CAGR of 4.4% over the next five years, resulting in a global foodservice market worth USD4.7 trillion in 2021, according to Jack MacIntyre, lead analyst for GlobalData’s Food Service practice. 

In a webinar on foodservice trends organized by GlobalData, MacIntyre mentioned four major trends that drive this sector, that are also applicable to bakery and confectionery products. 

  1. “Health” and “Indulgence”, concepts understood as mutually excluding each other, are turning into “Healthy indulgence”, a blending of the two concepts, according to the analyst. In the mature markets, producers have combined the two concepts convincing the consumers that a healthy and indulgent meal is possible. Referring to the “healthy” mark, MacIntyre mentions that, looking at the way food is produced, the process and ingredients can convince consumers about the healthy characteristics. The analyst also says that transparence in the food process tends to become synonym with health. 
  2. Convenience – a consumer purchase driver in itself on busy, “on-the-go” markets, it turns into “ultra-convenience”, with operators re-doubling efforts to fit into consumers’ lives. The analyst notes that, in mature markets like North America, convenience is expected, is demanded and is no longer a driver in itself. However, operators can win in convenience by fitting into consumers’ lives with flexible, smaller formats and easy technology like clips and clamps.  
  3. The heavy focus on cost – “cheapness” is turning into “value propositions”, seeing discerning consumers more willing to spend if convinced. However, the analyst says that although price will always be important, a category of consumers can be convinced to spend more money on premium, customized products. “In order to take advantage of price, whatever that may mean in the consumer’s mind, it is really important to view price not in isolation […] but as a part of a value proposition,” MacIntyre says. “If the foodservice is working on customization, the price can be adjusted accordingly”. He also admits that foodservice is not comparable with the grocery market or supermarkets, and that consumer drivers are more emotional, and experimental.
  4. Specialization turns into “convergence”, meaning “everyone offering everything, only better”. The analyst explains that many people considered the segmentation is very rigid; even though specialization will continue to be relevant in many cases, operators will turn to convergence. The analyst offers the examples of McDonald’s, coffee cafés, or pubs – which offer more and more products. However, MacIntyre adds that the challenge is that it is more difficult for operators to differentiate as many of them offer everything. 

Foodservice spend by region – 2016:

  • North America – USD720bn,
  • South America – USD 249bn,
  • West Europe – USD715bn,
  • East Europe – USD156bn,
  • Asia – USD1.8tn,
  • Middle East - USD92bn,
  • Australasia – USD60bn. 

Related articles: 

Pizza Trends in Europe: Consumers Seek Value 

Mintel Announces Five Packaging Trends Set to Impact Global Markets in 2017 

Exclusive Post-show Interview: Greek Trade Fairs Highlight Bakery Trends  

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