Health and Wellness Foods Market Overview
In recent years, health and wellness have extended beyond physical fitness and basic nutritional fitness. Doctors, nutritionists, fitness professionals, and consumers have become increasingly focused on the value of constant healthy consumption. In a rapidly evolving and incredibly challenging world, maintaining physical, nutritional, and mental health is imperative to growth. This change has propelled the scaling of the health and wellness food market while restricting the development of diet plans.
However, as is the case with most markets, the health and wellness food market has also witnessed the advent and end of many trends, and companies have experienced the need for market trends analysis. With evolving consumer behavior and preferences toward health and wellness, and fitness change, so do their consumption needs and demands. While the market is steadily expanding, continuously changing trends often cause challenges with inventory management, marketing initiatives, product development, and increase potential risks for businesses in the health and wellness food market.
The COVID-19 pandemic has increased consumers’ focus on individual health, and companies in the health and wellness food market capitalize on this growing trend. Request a free proposal to learn how your business can capitalize on current and future market trends.
Scope of the Trends Analysis Engagement
Keeping pace with changing market trends has become increasingly difficult as digitization, social awareness, and ethical consciousness continue to grow. However, with Infiniti’s market trends analysis, companies in the food and beverage industry identify, evaluate, and strategize for current and upcoming market trends. This critical analysis provides all clients with a significant competitive advantage and helps them stay a step ahead of their competitors as well as consumers with novel strategies and offerings. In this engagement, Infiniti’s trends analysis experts help a health and wellness food company overcome market challenges with a comprehensive analysis, product research and mitigate the risks of sudden changes.
Business Challenges
A leading health and wellness food company in the Asia-Pacific (APAC) region struggled to keep pace with consumers’ demands and noticed its decline in customer retention. While competitors developed relevant offerings, targeted marketing initiatives, and robust supply chain strategies, the company was losing ground due to traditional and rigid approaches. To keep abreast of the changing market and maintain efficient methods and relevant offerings, the client required a flexible supply chain, targeted marketing initiatives, data-driven product development processes, and a system to identify and strategize for upcoming market trends. Therefore, the company chose to partner with Infiniti Research and leverage our expertise in offering market trends analysis solutions. With this engagement, the health and wellness food market player also wanted to re-establish themselves as an industry leader, decrease their customer attrition rate, and mitigate the risks caused by changing trends.
Infiniti’s trends analysis experts have helped many food and beverage industry players identify and strategize for significant market trends. Speak with our experts to learn how your business can benefit from our solutions and advice.
Our Integrated Approach
Infiniti’s market trends analysis experts worked closely with the company to establish efficient and comprehensive strategies and develop an unparalleled approach to changing trends. This process included three steps. For the first step, the experts identified current significant trends in the market and helped the client evaluate the impact of market trends. With this step, the experts also aimed to provide the client with an effective system to identify, assess, and strategize future market trends.
With the insights from the trends analysis, the experts helped the client adapt their marketing strategies and product development process to accommodate market dynamics and risks. The experts also attempted to enable efficient preparation and proactive adaptation of marketing and product development initiatives while tracking and mitigating potential supply chain, distribution, and revenue-impacting risks.
The third and final step included developing a flexible approach to supply chain strategies and inventory management. Infiniti’s trends analysis experts helped the supply chain and inventory teams enable quick changes, fast and high-quality delivery, and easy adaptation to changing market dynamics to account for the constant changes in trends.
Business Outcomes
The market trends analysis solution helped the health and wellness food market client overcome the severe impact of the various market trends that had impacted their market share, revenue, and customer retention levels. The engagement also helped the company prepare for potential future market trends and maintain strategies easily adapted or modified as per consumer and market demand. With an effective system to identify future trends, the company could proactively strategize, plan, and approach various market changes.
New, relevant, and flexible marketing strategies helped the client focus on promoting offerings and content that attracted their target consumers while keeping abreast of current market trends. Additionally, the insights into the changing market dynamics helped the client develop new products or adapt previous offerings to appeal to their target audience as per current and future trends. These changes led to a significant increase in customer attraction and customer satisfaction.
Further, a flexible supply chain and improved inventory management enabled enhanced communication, transparency, adaptation, and growth. With fast, high-quality, and trend-conscious offerings, the health and wellness food market client soon re-established themselves as an industry leader, overcame the challenges of the changing market trends, and recovered from the impact of their previous weaknesses. Within one year of the engagement, the client’s customer retention rate increased substantially, also mitigating the risks of changing market trends helped realize huge savings across the supply chain, and their new strategies helped regain significant market share.
Our market trends analysis solutions provide companies with the opportunity to gain and maintain a significant strategic edge in an ever-changing market. Request more information to learn more about the value of trends analysis in the food and beverage industry.
