Analyzing growth potential among U.S. Millennials and teens, global research consultancy TNS not only revealed the top ten food and beverage categories, but also that those categories focusing on convenience and authenticity yield more success!
TNS’s new tool Growth Point was used to establish rankings by identifying unmet consumer needs and category potential. Using the TNS Consumption Universe, Growth Point can consider over 19,000 consumer interviews and 250 food and beverage products to create the most insightful rankings.
“Our Growth Point rankings highlight a real opportunity for retailers and manufacturers,” says John Essegian, Executive Vice President, TNS. “Companies know their long-term growth depends on winning a greater share of the Millennial and Teen market, yet most are missing out on one of the largest opportunities; deliver products that can be prepared quickly at home, and are more natural and authentic.”
The top 10 food categories exhibiting the “Most Potential for Growth” were:
Comfort Foods (i.e. Pizza) prepared fresh at home
Fresh fruit
High protein foods prepared at home: chicken, fish
Side dishes: grains, brown rice, potatoes
Hot breakfast cereals and fresh breakfast sandwiches
Greek yogurt, dessert-type yogurt
Frozen fruit juice bars
Sandwich/sub from shop
Dried fruit
Trail mix
The top 10 beverage categories exhibiting the “Most Potential for Growth” were:
(from http://www.tnsglobal.com/what-we-do/growth-point-rankings)
Waters: spring, sparkling
Coffee: brewed at home or from a coffee shop
Specialty coffees, flavored coffees
Iced tea: brewed, bottled, flavored
Hot Tea
Smoothies: made at home and ready-to-drink
Nutritionally complete drinks
Juices: fresh-squeezed orange juice, other fruit juices
Milk: chocolate milk, low fat/skim milk
Coconut water
“Our rankings indicate the large number of growth opportunities for food and beverages that are noticeably more natural. Health and authenticity is important, and the more natural ingredients, the better,” says Essegian.
Another trend is food and beverages that can be made at home with consumer’s valuing convenience and having a willingness to pay more for “higher quality foods and drinks”. These same consumers avoid highly processed items and those containing artificial ingredients.
“Quick, convenient prep married to higher quality and authenticity is the solution,” summed up Essegian.
