Price is no longer the major issue driving consumer food markets according to David Hughes, Professor of Food Marketing at Imperial College, London.
Speaking at seminar organised by the Home Grown Cereals Authority (HGCA), Hughes said that while price inevitably remains a concern for consumers, its relative importance is declining.
Instead, branded products are experiencing growth, at the expense of own label products, while factors such as well-being, health and convenience are driving consumer choice.
“While consumers are not just buying foods which are good for them, they are more aware than ever before of making healthy choices,” Hughes said.
“The health attributes can be the difference between the consumer choosing one product over another. Major corporations are all too aware of this trend, and are increasingly offering a portfolio of products that are ‘good for you’,” he added.