GLOBAL TRENDS DIRECTING THE FOOD AND BEVERAGE INDUSTRY

 

TREND 1: MARKET BRANDED PRODUCTS

 

The rapid growth of discount stores increases the share of market branded products in the sector. Discount markets that rank higher among global food retailers; It is growing faster than other retailers thanks to factors such as high purchasing volumes, bargaining capabilities and price advantage. This situation increases the demand for market branded products, which constitute a significant part of the product portfolio of this channel.

 

Consumer-oriented strategies are becoming widespread nowadays, consumers' perceptions of market branded products are changing. Concerning the products of this category, which is gaining in importance day by day, consumers were asked about the reasons for their preference. As the most important reason, 71% of the participants say the improvements in the quality of market branded products. Again, 71% of the participants present their purpose of saving as a reason. 65% of consumers say that market brand products are an alternative to other branded products.

 

Another important factor in the rise of Market brand products is the growth of the "Premium" product market. Most of the consumers make their shopping decisions on a category basis. This situation forces companies to specialize on a category basis. In many categories, market brand products are becoming an alternative to premium products.

 

In Turkey, the weight and sales of market brand products are increasing with the spread of discount markets. Two Turkish brands, which are among the world's top 250 retailers, are also discount markets. These leading discount markets were also ranked fifth and fourteenth, respectively, among the top 50 fastest growing global retailers between 2013 and 2018.

 

TREND 2: HEALTHY AND HALAL PRODUCTS

 

With the increasing trend of healthy eating around the world, packaged food products for this trend are expected to grow at a high rate, both in terms of turnover and tonnage, until 2024. When the healthy packaged food sector is examined, it is expected to exceed 540 billion dollars with an annual average compound growth rate of over 5%, while it was a sector of approximately 400 billion dollars in 2019. Healthy products category; It includes product groups that are free from nutrients such as fat, lactose, gluten with reduced salt, sugar ratios, organic products, and high-fiber and protein products.

 

Another important topic is halal foods. The halal food sector, which continues to grow rapidly, is spreading rapidly not only by Muslim communities but also among other societies at the global level. Major examples of this are China, the United States, and Brazil. The Muslim population, which is approximately 1.9 billion today, is expected to reach 2.2 billion by 2030. Today, the global halal food industry is a sector of approximately 500 billion dollars, and it is predicted that this size will exceed 700 billion dollars by 2025 with an increase of 40 percent. Like halal food, “Kosher” products also occupy an important place in the global halal products market. Products produced in accordance with the nutritional ethics of Jewish communities such as Kosher are consumed by many people from different religions and cultures. The religious and social concerns of the communities allow companies to change their product recipes and pave the way for the development of country-appropriate solutions.

 

Halal food production offers important opportunities for Turkey, which has a high potential in this field. According to GIMDES; Although the halal food demand potential of the Islamic world with a population of 2 billion in the world is 860 billion dollars, only 14% of this can be met. In order to take advantage of this opportunity, the Halal Accreditation Agency was established in Turkey in 2017.