Trend analysis is a systematic analysis of the trends related to a specific business or organisation.
It can be used for strategic decisions like product development, market development, geographical expansion and for food ingredient companies to prepare a focused customer approach.
Trends in the food & drink market cover the whole value chain from sourcing/ production to the consumer.
Analysis of trends involves both quantitative and qualitative factors.
Quantitative factors include market size in volume or value, annual growth, the number of product launches and the concentration of the market
Qualitative factors can include:
- Value chain: the impact of specific consumer trends on the food and/or food ingredients market
- Geographical: differences between countries and/or regions; matures versus emerging markets
- Segment focus: trends may apply more to one segment than the other. It is the art to learn from the success stories and to avoid to make the same decisions as done with the proudct failures
- Industry focus: trends in other industries may lead to opportunites in the food industry