Inflation
Formulating consumer-preferred products while managing costs is a challenge
How product priorities are balanced today can have a long-term impact on your competitive positioning and brand equity in the future.
Consumers are being impacted by inflation, but they are not losing sight of their priorities and will continue to drive demand for healthier and more sustainable products. At the same time, food and beverage manufacturers are facing persistent supply challenges, regulatory requirements and record-level inflation.
Discover how partnering with a team of Ingredion cross-functional experts can deliver consumer-preferred products.
Food and beverage manufacturers are facing persistent supply challenges, regulatory requirements, pressure from retailers and record-level inflation.
Retailers are putting pressure on brands to take the lead
Savvy retailers are managing category dynamics pushing leading brands to advance category development and justify increased prices with added consumer benefits.
Nimble retailers have accelerated value-enhancing innovation in their own private label products, striking a balance between price and consumer-preferred benefits across their traditional economy focused lines and the burgeoning premium private label segment.
Source: Innova, Trends in Private Label, 2021
Insights
As consumers find themselves in an inflationary environment, how are their purchasing and consumption habits changing?
8 in 10 consumers feel prices have increased on everyday items and essentials (fruit, rice, dairy, pasta, etc.).
61% of consumers are looking to reduce spending on snacks and non-essentials.
42% of consumers have reduced their meat intake in the last twelve months to make their shopping more available.
To save money, more than one-third of consumers cooked from scratch in the last twelve months. ¼ of consumers sought out recipes that are less expensive to prepare/or can be served over several days
Almost ¾ of consumers have cut back spending in restaurants and cafes.
More than half of consumers are concerned that rising living costs impacts their health because healthy food and drink are expensive to them.
To those who sought premium products, more than 1/3 of them purchased in fresh food.
Top 10 purchasing behaviors
- Clean label / natural ingredients
- Looking for sales / lower prices
- Checking ingredient labels
- Checking nutritional labels
- Health claims such as digestive health
- Reduced sugar or no added sugar
- No additives or artificial ingredients
- Reduced or zero fat claims
- Organic products
- Sustainability or environmental claims
Source: ATLAS, Proprietary Consumer Research 2023
66% of global consumers are focused on “value for the money.” Yet value is not defined by price alone.
Source: EY, 2022
Can manufacturers and consumers find value for the money without forcing either side to compromise?
The right ingredients partner delivers value for the money
As experts in taste, texture, consumer insights and sensory science, Ingredion makes it possible to achieve manufacturing objectives while developing products that win with consumers.
Gain value: Improve margins and decrease manufacturing complexity without sacrificing quality.
Give value: Develop the optimal combination of texture, taste and consumer-preferred attributes to boost product appeal and drive brand loyalty.
Tomato ketchup
If you want to achieve consumer-winning products, formulating with Ingredion is the route for you.
In this video, we demonstrate how we understand the challenges manufacturers face whilst focusing on what consumers want and keeping costs down.
Watch now to find out more.
Fat-reduced yoghurt
Developing the highest quality products for consumers and managing rising costs has proven challenging.
When it comes to product quality and indulgence, consumers have ever-changing demands and desires. At Ingredion, we work with our customers to add value to your products and create consumer-winning formulations.
Watch here to find out how we manage this balance in our fat-reduced yoghurt.
Cheese spread
At Ingredion, our experts aim to provide value-added solutions to many manufacturing challenges.
With a focus on consumer demands, how to reach them and ensure value is constantly added where it matters most, we can support you on your innovation journey to success.
Watch this video to find out more about how this is achieved with our processed cheese spread.
Fat reduced mayonnaise
Consumers today want high quality foods that are healthy and tasty, made with sustainable ingredients and a long shelf life, without a big price tag.
As specialists in formulation, our team are here to help you add value to your products and value chain without compromising on taste and texture.
Watch now to learn more.
Pursuing a value-added reformulation strategy gives brands the opportunity to:
- Optimise costs
- Maintain consumer-preferred taste and texture
- Add clean label ingredients
- Advance nutrition, health and wellness claims
- Formulate sustainably
- Accelerate speed to market
Navigating Inflation
Rising raw material costs, record levels of inflation, falling profitability all combine to create a seemingly impossible juggling act for food and beverage manufacturers.
Ingredion appreciates your affordability challenges and offer solutions to deliver cost-efficient products that meet consumers demands for superior eating experience, whilst delivering in taste, texture, and nutrition.
Watch now to learn more.
Navigating inflation in table sauces
This webinar focuses on looking at different opportunities for cost reduction within table sauces throughout the savoury industry,
These cost-reduction opportunities have been introduced whilst still considering the quality/taste of the finished product.
Watch this video to find out more information.
Navigating inflation in the dairy industry
This webinar focuses on looking at different opportunities for cost reduction within the dairy industry in Emerging Markets.
Rising raw material costs, record levels of inflation, and falling profitability all combine to create a seemingly impossible juggling act for food and beverage manufacturers.
Ingredion offers solutions to deliver cost-efficient products that meet consumers' demands for a superior eating experience whilst delivering in taste, texture, and nutrition.
Watch this video to find out more information.
Optimize costs without sacrificing the product attributes that
drive consumer preference and brand loyalty
“We tackle formulation challenges to achieve your brand’s priorities while aligning with your consumers' needs and label requirements. Our broad portfolio and expertise gives us the flexibility to provide the appropriate value-added solutions that allow you to optimize costs, while also driving consumer preference.”
- Lauren Standifer, Principal Technologist
Partner with Ingredion on a value-added formulation strategy
Gain value:
- Optimize costs without sacrificing performance
- Avoid supply disruptions
- Formulate sustainably
- Accelerate speed to market
- Command a better price
Give value:
- Develop consumer-preffered taste and texture
- Achieve the product claims and benefits consumers prefer
Formulate affordably without compromising on quality
Discover how much you can save by reducing or replacing eggs in your spoonable dressing formula.
Ingredion has the technical expertise, broad portfolio, global reach and local perspective to guide you in creating a value-added reformulation strategy that manages costs and drives consumer preference.
Ingredion can accelerate your value-added reformulation strategy
As experts in taste and texture, protein fortification, and sugar and sodium reduction, Ingredion can help make your brands healthier and more sustainable while delivering the same eating experience your consumers love. With Ingredion, your brand can Be What’s Next™.