2023 Overview of Food and beverage industry trends in Asia Pacific

The silver economy: meeting the needs of an aging population

COVID-19 has made older people more aware of their vulnerability and magnified the nutritional needs that underpin their overall health, with some older consumers requiring specific health and well-being support and others wanting to maintain an active lifestyle for as long as possible. Research from Mintel China Consumer Reports shows that 46% of consumers aged 50-59 in China have products specific to their health needs that can help them maintain a healthy lifestyle.

This opens up business opportunities to develop more age-focused products that target specific health (such as muscle and cognitive health) and nutritional (such as protein) needs. There are many ways in which brands can support the overall and preventative health of the older population. Ingredients that provide health benefits for beauty, urinary and circulatory systems can feature prominently in product formulations, and the benefits for the elderly can be promoted to consumers through colostrum-rich products.

In addition, Mintel Trends' Active Ageing 'highlights the need to break some outdated stereotypes about older consumers, who are often mistaken for grey-haired, frail, sedentary people. However, "active seniors" refer to older consumers who are focused on pursuing an active, healthy lifestyle. Mintel Global research shows that older consumers often plan their snack times ahead of time and view snacks as a small treat between meals rather than as a fast food alternative.

Brands should rethink how they communicate ready-to-eat snacks to older consumers who want to treat themselves but struggle to understand the meaning of individual packages that focus on portability, and brands could reposition sharing and repackaging as a way for older consumers to keep their snacks fresh.

Brain Drive: Focus, Energy, and brain health

In the wake of COVID-19, the need for mental health and cognitive awareness is greater than ever. Consumers are eager to pursue positive mental health and are actively seeking help in the process of achieving this goal. At the same time, we are plagued by the "always on" nature of social media and our inability to concentrate.

Mintel experts have identified and highlighted four ingredients - natural caffeine, B vitamins, adaptogens and choline - that could feature in the next wave of functional food and drink launches that will help focus and clear thinking while supporting brain health.

According to Mintel's Global New Product Database (GNPD), in the last five years, the world has a functional diet for the brain and/or nervous system

45% of new products and beverages contain B vitamins.

Of course, consumers are encouraged to start with safe and familiar ingredients and look for functional foods that promote emotional and cognitive health, such as proven nutrients like B vitamins and choline. Adding natural sources of caffeine from ingredients like Mate, Guarana, and Guayusa can bring a new twist to familiar ingredients.

By using adaptogen ingredients to manage stress, help consumers keep their heads clear, and aid in focus and cognitive improvement, blended brain ingredients will also be key to delivering optimal function.

Enjoy Without Fear 2.0: Unlock a whole new level of revelatory enjoyment

For now, consumers are still keen to comfort themselves with food and drink. Carbonated soft drinks and confectionery can form an ideal combination to appeal to consumers seeking new tastes and indulgent experiences. Mintel research shows that soda and candy share a group of enjoyment-seeking consumers, and taste plays an important role in attracting these consumers to try new products. Brands can turn their homemade creative drinks using confectionery ingredients/flavors on social media into real products, as well as focus on nostalgia, heritage, festivals and more.

At the same time, in recent years, Gen Z agreed that snacks are essential for nightlife, and night snack food is also a big business opportunity to seize this consumer group. According to Mintel Consumer Reports, 43 percent of Gen Z Americans agree that snacking is a great way to taste global delicacies. Forty-three percent of Thai Gen Z consumers want to snack at night to provide psychological comfort.

Capitalize on Gen Z's interest in late-night snacking by partnering with and launching products inspired by global flavors that younger consumers are passionate about. Since Gen Z often stay up late and their sleep is constantly disturbed, salty snack brands can also add adaptogens to help them relax and de-stress before bed.