Research and Markets - Premium Indulgence Amongst Consumers Expected to rise to EUR21.7bn by 2009
Dublin--Research and Markets (http://www. researchandmarkets. com/reports/c10129) has announced the addition of Premium Indulgence to their offering
(PRWEB) November 29, 2004
Consumers are increasingly experimental and sophisticated in their tastes. Growing levels of stress create a need for indulgence and relaxation. In 2003, there were an estimated 52.5bn premium treating occasions in Europe and the US. The premium treating occasion represents one in which consumers are more concerned with quality and the experience provided than value-for-money.
Scope
The number and market value of premium consumption occasions by country and category with forecasts to 2008. Detailed insights and analysis into the consumer need states, occasions and lifestyle changes that affect the market for premium indulgence. Review of innovative and market leading new product development.
Highlights
In 2003, there were an estimated 52.5 billion premium treating occasions in Europe and the US, representing consumer expenditure worth US$19.4bn (EUR17.2bn). Over the next five years these figures are predicted to grow to 65.9 billion and US$24.5bn (EUR21.7bn) respectively.
With a forecast CAGR of 7.1% between 2003 and 2008, premium bread in the US is the fastest growing premium food and drink category.
52% of American and European consumers claim that rewarding themselves for their own perceived virtuous behaviour is their main reason for treating themselves.
Reasons to Purchase
Access a complete map of all premium consumption occasions by country and category, in terms of value and the number of occasions.
Understand the consumer trends that drive the market for premium indulgence and their effect on the market in the future.
Learn how to capitalize on consumers evolving needs and expectations to successfully develop your premium offering.
TABLE OF CONTENTS
CHAPTER 1 EXECUTIVE SUMMARY 3
Hot topic 3
The future decoded 3
Action points 4
CHAPTER 2 THE FUTURE DECODED 12
Introduction 12
Consumers are indulging themselves more often 13
The number of treating occasions is growing 13
But health concerns encourage a “less of the best” attitude… 14
Experimentation and curiosity are driving premiumization 15
Premiumization is limited to certain categories 16
A growing proportion of snacking occasions are premium 17
Strong growth in juices, ice cream and bread 19
The need to unwind drives premium snacking 24
Rising levels of stress encourage this trend 24
Snacks in this context have an important psychological role 26
A growing demand for restaurant quality at home 28
Premium trends in retail often start in foodservice 28
Self-rewarding encourages premium snacking 31
There is a growing feeling that people need to reward themselves 31
There is a blurring of distinction between needs and desires 32
Conclusions 33
CHAPTER 3 ACTION POINTS 34
Introduction 34
Cooperate with retailers to drive premium sales 34
Devote areas of supermarkets to premium snacks 34
In-store foodservice encourages at-home consumption 35
Ensure that your products really are premium 35
Misleading messages undermine consumer confidence 36
Appropriate pricing is an important consideration 36
Create high quality brand extensions 37
Case study: TescoÂ’s Finest 37
Case study: WalkersÂ’ Sensations 38
Identify niches that offer NPD opportunities 40
Example: vegetable crisps 40
Premium snack nuts 41
Give snack products a regional identity 41
Ethnic origin and heritage can be important points 41
Case study: Phileas Fogg snacks 42
Case study: Ginsters 43
Target ethnic groups and Seniors 44
Target SeniorsÂ’ higher incomes and tendencies to premium 44
Tailor premium products to specific ethinc groups in the US 44
Target aspirational consumers by offering sophistication 44
Make snacks that appeal to adult tastes 44
Do not be afraid of unusual combinations 45
Position soft drinks as being “masstige” 46
Virgin is trying to create a US market for premium carbonates 46
Capitalize on the emergence of premium bottled water 46
CHAPTER 4 APPENDIX 48
Supplementary data 48
Number of premium occasions by category 48
Value of premium occasions 56
Definitions 64
Research methodology 64
Relevant links 65
How to contact experts in your industry 65
For more information visit http://www. researchandmarkets. com/reports/c10129 (http://www. researchandmarkets. com/reports/c10129)
Laura Wood
Senior Manager
Research and Markets
Press@researchandmarkets. com
Fax: +353 1 4100 980
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