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HomeNewsMajor F&B and Dairy companies identify the relation between  Consumption and Demand...

Major F&B and Dairy companies identify the relation between  Consumption and Demand for Packaged Goods. 

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With an increase in both in-home and out-of-home consumption, India’s food and beverage processing and dairy giants see a demand for branded packaged products.

Some of the changes of 2022 and those that will continue in 2023 range from the use of smart appliances to create meals to accelerate the need for healthy home-cooked food, the robust demand for plant-based foods, and the use of natural ingredients.

“This year, we noticed a remarkable demand for milk and milk products across regions and for the entire year,” said Manish Bandlish, managing director of Mother Dairy Fruit & Vegetable, in this regard. Notably, the demand for ice cream increased significantly in the first half of the year, although different dairy products were still in high demand in the second half of the year, even after the holidays. The consumption trend persisted, with a strong preference for packaged goods and increased out-of-home consumption in addition to ongoing in-home consumption.

Simon George, managing director of Cargill Food Ingredients and Bio Industries for South Asia and president of Cargill India, chimed in with a similar observation, pointing out that a significant trend has been the switch from the consumption of unbranded loose products to branded packaged goods. Consumer demand for branded and packaged food goods has risen due to an increased focus on health and safety. The growth of the potential consumer base with disposable money and the narrowing price gap between branded and unbranded food, particularly in India’s Tier-2 and Tier-3 cities, are further factors influencing this trend.

Better nutrition will continue to receive more attention. Due to the cleanliness, quality, and freshness that home cooking offers, consumers are purchasing fortified foods and spending money on items that enable them to get more nutrition from their diet. Product nutrition profiles are more effective at influencing consumer decisions than conventional purchasing preferences, George continued.

“In addition to the consumer market, the institutional market’s demand increased.” We introduced a variety of new goods to broaden our portfolio of value-added dairy products in order to suit the constantly changing needs of our consumers. The year witnessed new products, markets, and experiences for the business as well as the consumers. “We anticipate significant growth over the previous fiscal year due to this year’s stronger demand, and as we enter the new year, we’ll keep releasing the best-in-class goods to entice consumers and open up new opportunities for our farmers,” according to Bandlish from Mother Dairy.

“We are convinced that companies will be scrutinized throughout the course of the next ten years through the sophisticated lens of sustainability.” Consumers in Tier-1 metros will heavily weigh elements such as recyclable packaging, sustainability, traceability, and the ethical value chain when making purchasing decisions. This consumer segment is growing, is engaged online, and has access to knowledge and trends from across the world and in their region. According to George from Cargill, “We are already noticing this requirement with our large B2B customers, who expect sustainability in the ingredients we supply them to help them meet their obligations.”

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