Business Insights predicts overall growth from 2009-2015 to be 21.9% for all food and drink, and 25.3% for personal care. This report discusses how food and drinks manufacturers can learn from personal care innovation and achieve higher margins.
High margins and added value in the personal care sector is derived from marketing innovation, investment in research and development, the use of science and claims, creating needs, and building customer loyalty. The food and drinks industry can use crossover trends from the personal care sector to the benefit of future product development.
Both the personal care and the food and drink sectors are adept at catering to the whole consumer market, but the personal care sector is better at segmentation and targeting. This takes the form of creating products for specific demographic groups, but also increasingly in terms of personalization of the product or its usage for the individual.
Foam or spray dispensers are widely used in personal care and can allow for transformation of the packaged product into a new phase or format. In food and drink these delivery tools can add interest by creating new textures, adding fun and creativity to the eating process, and/or allowing products to be used in a wider range of contexts.
'Anti-aging' represented 2.28% of all tags and claims on new personal care products over the past two years, while the figure for new food and drink products was only 0.02%. This suggests that there is potential for substantial growth in this category for the food and drink sector.