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66 Product
Better fitness has been challenging over the past year. Many consumers struggle to maintain pre-COVID-
19 fitness levels when they can’t go to their gyms as frequently or participate in sports in the same ways
as before. This is why across the global consumer packaged goods (CPG) industry, a more holistic notion
of health and wellness is flourishing.
Here are some key findings related to consumer trends related to health-consciousness and healthy eating
habits:
● According to the EY survey, 40 % of Indian respondents stated that they will pay a premium for
products promoting health and wellness, which is higher than their global counterparts at 29 %.
● Around 94 % of Indians are worried about their family's health against 82 % globally, while 52 %
of respondents think changes in their approach to mental wellbeing will persist beyond COVID-
19, globally it is just 39 %.
India set to become a USD 30 billion market opportunity for health food by 2026: Avendus
Capital Study
● India is the world’s fastest growing health foods market and forecasted to become a $30 billion
sector by 2026, a new report by investment banking services firm Avendus Capital said.
According to the Avendus study, India is experiencing a wave of health-conscious consumers
influencing a structural shift in food preferences and purchase decisions towards healthy
alternatives and better ingredients, especially among millennials and their families. It estimates
that there will be a 2x increase in per capita spending on health food by 2026.
Ayurveda and herbal are increasingly becoming 'back to roots' answers to modern problems.” EY India
National Leader Consumer Product & Retail Sector Angshuman Bhattacharya said in a statement. Better
nutrition has always been a part of wellness, but now consumers want food not only to taste good but also
to help them accomplish their wellness goals.
Primary Research :
A Questionnaire was prepared and circulated among different age groups to gather information regarding
the consumer behaviour. The results are as follow -
Questionnaire : https://docs.google.com/forms/d/e/1FAIpQLSfO2Tgt7slPICqnw1HkTg7P2p-
_kVZFJi8WRMoZwcHkuI6x6A/viewform?usp=sf_link
Results :
Secondary Research :
https://timesofindia.indiatimes.com/blogs/voices/factors-that-affect-consumer-behaviour-in-the-fmcg-
sector/
https://rjhssonline.com/HTML_Papers/Research%20Journal%20of%20Humanities%20and%20Social%2
0Sciences__PID__2017-8-1-11.html
https://www.fb101.com/5-challenges-facing-organic-food-supply-chains/
http://iisuniv.researgence.com/AuthorDocument/Publication/1010750.pdf
Product Gaps
These gaps represent common areas where healthy snack food brands can make improvements to cater to
health-conscious consumers seeking nutritious options:
Hypothesis :
Hypothesis 1 : Creating a variety of organic and locally produced snacks to satisfy consumers searching
for healthy snacking options is priority number one.
Hypothesis 2: Offering consumers who live a plant-based lifestyle a range of convenient, nutrient-dense,
and sustainable meal replacements.
Hypothesis 3: Producing a variety of allergen- and gluten-free bakery goods to satisfy the needs of
customers with dietary restrictions.