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Published by: Business Insights
Published: Jun. 1, 2003 - 109 Pages
Table of Contents
Executive Summary
- Market dynamics in premium and indulgence
- Key issues in premium and indulgence
- Case studies
- Industry opinion survey
- Conclusions
Chapter 1 Introduction
- The aim of this report
- Chapter structure
Chapter 2 Market Dynamics
- Summary
- Introduction
- Consumer tastes are evolving
- Manufacturers and retailers have their own role to play
- Defining premium and indulgence
- Private label helps redefine premium products
- Consumer-led definitions are most important
- Targeting indulgence
- The indulgence mega-trend
- Dynamics in premium and indulgence
- Priceis less of an issue...
- ... But health concerns are important
- Indulgence by occasion
- Market sizes in premium and indulgent products
- Profit opportunities in premium and indulgence
- Regional comparisons in premium and indulgence
- Alcoholic drinks offer the best opportunities for profit
- ‘Guilt-free’ bakery products offer a healthy alternative
- Confectionery sales driven by premium indulgence
- Indulgence in dairy markets is dominated by ice-creams
- Indulgent snacking opportunities are growing
Chapter 3 Key Issues in Premium and
Indulgence
- Summary
- Introduction
- Premiumisation strategies
- Ingredients trends in premium products
- Defining products as premium through branding
- The role of packaging is vital
- Manufacturer strategies in premium and indulgence
- Primary objectives in developing premium and/or indulgent products
- Blending a new marketing mix
- Using ‘pleasure’ to justify a higher margin
- Be wary of taking premium too far
- Premium manufacturers faced by threat of a recession
- Retailer strategies in premium and indulgence
- Private label background
- Premium private label ranges continue to grow
- UK retailers lead the private label revolution
- Promote the concept but do not over extend it
- Premium, indulgence and the consumer
- Consumers balance indulgence with healthy concerns
- Consumer behaviour towards premium products in an economic downturn
- Consumer concerns over mass market production
- But is premium really premium?
- But premium is more than just about taste
- But is there too much premium?
Chapter 4 Case Studies
- Summary
- Introduction
- Premium and indulgent desserts
- Ice cream tastes vary by country
- GB Glace, Sweden
- Magnum 7 Deadly Sins
- Unilever and Nestlé dominate (super) premium ice creams
- Growing through acquisition
- Developing indulgence in desserts
- Premium alcoholic drinks
- Introduction
- Reasons for growth in the premium alcoholic drinks market
- The situation in the UK
- Premium beers
- Scottish & Newcastle Plc
- Somerfield Group
- Premium products at Somerfield
- New Product Development
- Marketing Strategy
- Sales success
Chapter 5 Industry Opinion Survey
- Summary
- Introduction
- Trends in premium and indulgent markets: 2002 and 2003
- Premium markets held up well and the prospects are good
- NPD is vital to premium products in 2003
- Prospects for indulgence are similarly high
- Growth of healthy eating trend is the biggest threat to indulgence
- Premium and indulgent products must be differentiated
- Premium and indulgence: importance by category
- Premium opportunities lie in chilled foods, ambient meals and snacks
- Category expectations for indulgence are not as great
- Consumer issues in premium and indulgence
- Packaging is absolutely vital to the success of premium and indulgent products
- Targeting premium consumers
- Key indulgent consumers are teenagers and young adults
- Country comparisons in premium and indulgent food and drinks
- Prospects for premium and indulgent products are poor in Germany
- Looking to the future of premium and indulgent markets
- Premium future lies in snacks and chilled foods
- Functional and convenience in premium will be important attributes
- Indulgent future lies in snacks and frozen foods
Chapter 6 Conclusions
- Summary
- Introduction
- Key trends in premium and indulgence
- Consumer expectations will continue to rise
- Premium private label will continue to grow
- Natural ingredients will gain in popularity
- Healthy eating trends threaten growth
- Strategies for growth in premium and indulgence
Packaging will play a key role in the success of premium and indulgent
- products
- Premium products in times of recession
- Focus on premium private label
- Forecasts for premium and indulgence by category
- Snacks will deliver premium product opportunities
- Functional and convenience in premium will be important attributes
- Indulgent confectionery is set to struggle for growth
Chapter 7 Appendix
- Primary research methodology
- Terms and abbreviations used in this report
- Food and drinks segmentation table
Index
List of Figures
- Figure 4.1: Indulgent ice cream products sold in Sweden
- Figure 4.2: Premium ice cream brands from Unilever
- Figure 4.3: Scottish & Newcastle beer brands
- Figure 4.4: Premium products at Somerfield
- Figure 5.5: Confidence in premium food and drinks products is high
- Figure 5.6: NPD and brand recognition are vital for premium products in 2003
- Figure 5.7: Confidence in the indulgence segment is also high
- Figure 5.8: Healthy eating trends pose a threat to indulgent markets
- Figure 5.9: Clear differentiation is vital for premium and indulgent success
- Figure 5.10: Chilled, ambient and snacks are set to drive premium opportunities in 2003
- Figure 5.11: Premium fruit juices look set for growth
- Figure 5.12: Snacking opportunities will dominate indulgence in 2003
- Figure 5.13: Emotional factors are vital to the premium/indulgent purchasing decision for consumers
- Figure 5.14: Young adults are the key ‘premium’ consumer group
- Figure 5.15: Working single people and couples without families are vital to the premium segment
- Figure 5.16: Teenagers and young adults are key targets for indulgent products
- Figure 5.17: Working single people are they key target for the indulgence segment
- Figure 5.18: The US, UK and France offer the best growth potential for premium and indulgent food
and drinks
- Figure 5.19: Premium bakery products will struggle for growth
- Figure 5.20: Fruit juices are set for growth at the expense of carbonates
- Figure 5.21: Convenient premium offers potential for growth
- Figure 5.22: One in three forecast below average growth rates for indulgent confectionery
- Figure 5.23: Convenience will be a key factor for indulgent products
- Figure 6.24: Manufacturer and retail strategies for success
List of Tables
- Table 2.1: Top 20 sector profit opportunities for the consumer mega-trends
- Table 2.2: Germany and France feature highly amongst profit opportunities within Indulgent and
Premium
- Table 3.3: Prevalence of obesity in selected countries, 1990—2010
- Table 4.4: UK premium packaged spirits market (by value), 2002
- Table 7.5: Terms and abbreviations used in this report
- Table 7.6: Definitions of food and drinks segments used in this report
- Table 7.7: Definitions of food and drinks segments used in this report continued
- Table 7.8: Definitions of food and drinks segments used in this report continued
- Table 7.9: Definitions of food and drinks segments used in this report continued
AbstractPremium and indulgent products have universal appeal to all consumers regardless of age, sex, ethnic background or family circumstances; such products are not geographically specific - the concept of higher quality, premium alternatives is accepted across the globe and consumers in all countries are likely to indulge themselves with particular food and drink purchases. Premium and indulgent products are not just limited to confectionery or dairy products, but widely available in many categories including snack products, ready-meals and non-alcoholic drinks. This report aims to identify how the premium and indulgent food and drinks markets are changing across Europe and the United States. The report looks at the main drivers of change from the perspective of manufacturers, retailers and the consumer - how manufacturers are attempting to drive growth in the segment; the strategies that retailers are adopting and how consumer attitudes to premium and indulgent products are evolving.
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