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euromonitor:2021年影响印度快速消费品行业的主要趋势【英文版】

  • 2021年10月12日
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Top Trends Influencing India’s FMCG Industries in 2021 Not to be distributed without permission. The data included in this document is accurate according to Passport, Euromonitor International’s market research database, at time of publication: September 2021 Top Trends Influencing India’s FMCG Industries in 2021 Ina Dawer – Senior Research Manager Amulya Pandit – Consultant Vishnu Vardhan – Consultant Anjali Jain – Senior Research Analyst Neeraj Talele – Research Analyst Shreya Sharma – Research Analyst CONNECT WITH US © 2021 Euromonitor International Contents 1 Introduction 2 Rethinking Wellness Through Food, Health and Personal Care 6 Reinventing Ancient Ingredients: Traditional Staples to Modern Superfoods 8 Hygiene: Cleanliness to Germ-free in Home Care 11 Digital Everything, Everywhere 14 The Evolution of Physical Space in Foodservice and Retail 17 Conclusion 18 How Can Euromonitor International Help? © Euromonitor International Introduction India in 2021 Consumers across India are not likely to return to pre-pandemic purchasing habits and routines anytime soon, as 2021 has solidified the new way of doing things in professional environments and home lifestyles. High market competition means companies should start thinking creatively about how they reach out to consumers, even in the remotest parts of the country. The biggest challenge for established and multinational companies will be to adapt large scale operations with agility. This white paper identifies the biggest trends shaping the future of India’s fast-moving consumer goods (FMCG) markets, helping companies in this space identify new priorities and opportunities in a postpandemic environment. © Euromonitor International Rethinking Wellness Through Food, Health and Personal Care The pandemic’s health implications have gone beyond physical health, extending into mental and emotional wellbeing. As more consumers take a holistic approach to wellbeing through improved lifestyles and preventative healthcare measures, the popularity of traditional medicine and herbal formulations have grown. Fear of bad health combined with increased unemployment are two key areas that businesses will need to consider when building future models. Perception / Definition of Health in India, 2020–2021 Mental wellbeing Having a healthy immune system Absence of disease Emotional wellbeing 0% 10% 20% 30% 40% 50% 60% 70% % of respondents 2020 2021 Source: Euromonitor International Health and Nutrition Survey, fielded in February 2020 and 2021 Opportunities beyond immunity post-pandemic The surge in demand for immunity boosting supplements in India will remain strong if new COVID-19 variants develop. According to Euromonitor’s Health and Nutrition Survey, 66% of the Indian population think having a healthy immune system is essential. For businesses to stay relevant and ensure brand loyalty, expanding their product portfolios to address growing concerns around problems like inadequate sleep, stress and anxiety will be key in the coming years. © Euromonitor International Rethinking Wellness Through Food, Health and Personal Care 3 Traditional herbal and Ayurvedic supplements such as Chyawanprash, Guduchi, Gilroy and other immunity-boosting products like vitamin C and fish oils, have seen a surge in sales since the first wave in 2020. Euromonitor’s Health and Nutrition Survey showed around 41% of the Indian population took vitamins and supplements for stronger immune support in 2020 and this figure increased to 50% in 2021. The heightened interest in immunity-boosting products along with consumers exploring more Ayurvedic formulations are strong drivers for new market entries. Marico Limited, for example, launched Saffola Arogyam with the ingredient Chyawanprash in 2020, while Herbalife International entered the Ayurvedic supplements space with the launch of vritilife Immune Health and vritilife Brain Health in December 2020. Furthermore, Switzerland-based health supplement brand NanoVeda, which combines Ayurveda and nanotechnology, established its presence in India during January 2021. The shift towards healthier eating has inspired packaged food companies to launch more functional food products with immunity claims and incorporate healthier ingredients into existing products to recapture consumers’ interest. Consumers are driving this demand with 69% of India’s population claiming that they look for healthy ingredients in food and beverages, a 5% increase from 2019. Packaged Food in India: % of Total SKU Count in India, 2019-2020 Good Source of Vitamins Immune System Health Enriched with Vitamins 0% 1% 2% 3% 4% % of respondents 2019 2020 Source: Euromonitor International Product Claims and Positioning Module © Euromonitor International 4 Rethinking Wellness Through Food, Health and Personal Care Health driven skin care to remain popular The demand for health products has extended into the beauty industry as well, especially in skin care. While moisturising and hydration remain the most desired skin care feature, India’s population now also desire skin care products with Euromonitor’s Beauty Survey indicated that 65% of India’s consumers were concerned about skin health in 2020, added health benefits like enriched vitamins. This shift will most likely encourage companies to re-evaluate their portfolio and introduce skin care products with health claims. higher than the global average of 44%. Desired Product Features for Skin Care in India, 2019 and 2020 Moisturising / Hydrating Sun‐protectant / SPF Contains Added Vitamins Suitable for Sensitive Skin Anti‐ageing 0% 5% 10% 15% 20% 25% 30% 35% 40% 45% % of respondents 2019 2020 Source: Euromonitor International Beauty Survey, fielded in June-July 2019 and 2020 Even though moisturisers and anti-ageing creams with vitamin C and vitamin E are not new concepts, aligning skin care with health will create new opportunities for companies to expand into vitamin-infused product lines which also include serums, toners, face masks and cleansers. For example, WOW Skin Science and Charmis quickly capitalised on the trend and launched vitamin-infused skin care products in 2020. © Euromonitor International Rethinking Wellness Through Food, Health and Personal Care 5 Skin Care in India: % of Total SKU Count, 2019–2020 Skin Health Enriched with Vitamins Ayurvedic Good Source of Vitamins 0% 1% 2% 3% 4% 5% 6% 7% % of respondents 2019 2020 Source: Euromonitor International Product Claims and Positioning Module Holistic wellbeing is key Stress levels rose during the pandemic, leading to inflammatory conditions like eczema, acne and hormonal imbalances. Brands that address these conditions and incorporate more botanical adaptogens and Ayurvedic formulations will stand out and resonate more with consumers. Other players are finding opportunities in sleep-care, adding in active ingredients like magnesium-rich lotions, essential oils and night creams infused with mood-enhancing properties. After prolonged health and financial uncertainty, consumers want to indulge in comfort food without having to deal with the negative health implications associated with the prodcuts, creating opportunities in permissible indulgence. Beyond the product itself, packaged food brands should build a sense of community and inclusion through initiatives, such as donating to charitable organisations or featuring messages of support and courage on the packaging. India is one of the worst affected countries by the pandemic and is facing high levels of anxiety, stress and depression. However, traditionally there has been a perceived stigma around mental health in the country. Moving forward, a more open attitude towards emotional health issues will create opportunities for businesses and unlock the country’s potential for health and wellness in the years to come. © Euromonitor International Reinventing Ancient Ingredients: Traditional Staples to Modern Superfoods The Ministry of Ayurveda, Yoga, Naturopathy, Unani, Siddha and Homoeopathy (Ministry of Ayush), has been promoting ingredients, such as cumin, turmeric, coriander, basil and cinnamon to boost overall health systems. This has encouraged consumers to centre their diets around these ingredients, even in packaged foods and drinks. Ancient grains are becoming the go-to option for overall health Traditionally, ancient grains like millet and quinoa have been part of the Indian staple diet. However, wheat and rice became more popular during the Green Revolution, which affected the production of indigenous crops. Dietary Requirements, 2020–2021 I am trying to drink more water I am trying to increase my intake of fibre I am trying to increase my protein intake I am trying to limit my intake of refined sugar I am trying to limit my intake of saturated fat I am trying to limit my intake of salt 0% 10% 20% 30% 40% 50% 60% % of respondents 2021 2020 Source: Euromonitor International Health and Nutrition Survey, fielded in February 2020 and 2021 © Euromonitor International Reinventing Ancient Ingredients: Traditional Staples to Modern Superfoods 7 A likely third wave of COVID-19 in India is likely to promote the consumption of consumption of healthier foods which are high in fibre, protein and other micronutrients will be in high demand. Consumers who are at increased risk of infection will also seek organic ingredients to reduce their intake of refined sugars, salt and saturated fats. Consumers look for alternative sources to boost nutrition India’s existing large population of vegetarian consumers spiked since the pandemic as many consumers believe vegetarian diets are better for overall health. However, consumers often perceive healthier foods like ancient grains as less flavoursome and more difficult to prepare. Barriers to a Healthy Diet, 2021 Not enough time to cook Do not enjoy the taste of health foods Cannot cook well 0% 5% 10% 15% 20% 25% 30% 35% Source: Euromonitor International Health and Nutrition Survey, fielded in February 2021 Packaged food companies as result are increasingly launching new tasty snacking products with healthier ingredients in categories like breakfast breakfast cereals, snacks and staples. Company USP Aashirvaad Nature’s Super Foods Multi Millet Mix Happa Foods Eat Mindful Superfoods Ragi Bar Slurrp Farm Millet Pancake USP: Gluten free, naturally healthy and contains multi millet mix USP: Healthy and hassle-free options for parents to feed their children on the go USP: Snacks that are nutritious and tasty USP: Providing a tasty and affordable option for a healthy diet While there is opportunity for brands to premiumise these products, they still need to improve consumer education around their health benefits before they can be adopted on a mass scale. © Euromonitor International Hygiene: Cleanliness to Germ-free in Home Care Hygiene is evolving from a problem-solving product to a lifestyle need. With the threat of infection in the first half of 2021, companies and consumers turned their attention to home hygiene products, seen through a surge in sales for disinfectants and toilet cleaners across India. Companies took proactive measures to ensure supply chains remain functional, even during future lockdowns, by working with suppliers to produce and maintain raw materials so that production is not disrupted. Per Capita Consumption of Top Five Asia Pacific Economies, 2020 Home Care Disinfectants Toilet Liquids / Foam 0 0.2 0.4 0.6 0.8 1 1.2 1.4 1.6 USD South Korea Japan Indonesia India China Source: Euromonitor International Industry Forecast Model, Home Care 2021 Consumers in urban areas, in particular, now understand that visible cleanliness is not a given for destroying disease-causing germs, bacteria and viruses. According to Euromonitor International, 45% of consumers indicated that they identify better with a well-known brand when buying any type of cleaning product and two in five people check reviews around how effective the products are before making a purchase. © Euromonitor International Hygiene: Cleanliness to Germ-free in Home Care 9 Case study: ITC revives Savlon In 2020, considering the need for domestic disinfection, several companies expanded their product lines or launched new brands to cater to consumers. Most of these products were meant for surfaces; however, companies, such as ITC, also gradually ventured into vegetable cleaning and fabric disinfection. ITC ramped up its R&D and production to launch several new products for disinfection in various formats throughout the year. Of the 13 products in its Savlon portfolio, five are dedicated to surface disinfection. These products, initially launched online as direct-to-consumer, have been seeing growth as consumers sought products to alleviate the threat of infection. These products have appealed to consumers as Savlon has strong brand equity from its presence in antiseptic liquids and has featured relevant claims associated with the products. Top priorities for companies and brand owners who want to break into this market Functional product usage During the pandemic, consumers used hygiene products in fear of contracting the virus, however, in the long-term, consumers will use them for functional and health-driven reasons. A majority of the Indian population favours natural products like lemon, neem or tulsi which have antibacterial properties over chemical-heavy products. In 2020, Reckitt’s Lizol introduced herbal variants, which localised its surface disinfectant. HUL also launched “Nature Protect” which is a range of hygiene products that contain neem extracts and claims to kill 99.9% of germs. As vaccination rollouts increase, consumers in highly populated urban areas are driving demand for niche categories like on-the-go disinfectants. Normal disinfecting sprays and liquids are not travel-friendly due to the size of the bottles and the possibility of leakage, but brands like GCPL launched travel-sized sanitisers and Savlon positioned their disinfecting wipes for daily out-of-home situations. © Euromonitor International 10 Hygiene: Cleanliness to Germ-free in Home Care Affordability As a result of an uncertain economy, high unemployment rates and consumers saving money for medical emergencies, products are becoming more affordable. When the immediate threat of infection subsides, price and efficacy (with or without germ-killing claims) will become key differentiators for hygiene products. However, premiumisation will re-emerge as more consumers turn to products with natural ingredients, which tend to be more expensive. This will be most applicable to the upper-middle-income group that have been less impacted from income erosion during the pandemic. Therefore, polarisation increases with the rise of premiumisation and brands need to segment their target audience carefully. Availability Companies will likely expand distribution capabilities for home hygiene products through brick-andmortar stores. Though e-commerce accelerated in 2020 with increased sales from Amazon, Pantry, Flipkart and Jio, these companies will face challenges in the short-term in smaller cities where most grocery shopping is still in store. Generating awareness COVID-19 drove brands to include product claims such as ‘kills bacteria and viruses’ to increase sales. Continuing to educate consumers about the presence of germs on surfaces, their impact on health and how it could prevent diseases will be key. In the long-term, companies will also need to communicate the threat of infection from other germs, such as staphylococcus aureus, escherichia coli and influenza A, among others. © Euromonitor International Digital Everything, Everywhere Even though first-time users, especially older generations and residents in two-tier cities have not been as confident in the past, the pandemic forced them to become more familiar with digital platforms. This change will be pivotal in transforming India’s e-commerce market and growth trajectory. These shifts are also revolutionising the way consumers in India make payments, with mobile technologies in particular driving innovation. E-commerce will see an addition of INR7 trillion between 2020–2025. Digital acceleration in retail Though online demand for discretionary product categories like fashion and apparel continues to strengthen, groceries have benefited the most. Lockdown restrictions pushed consumers to experiment with purchasing groceries online and reduced store footfall forced brands and retailers to expand their online offerings. Share of E-Commerce in Various Industries, 2019 and 2020 12% 10% 8% Share % 6% 4% 2% 0% Beauty and Home Care Personal Care Hot Drinks Packaged Food 2019 2020 Soft Drinks Tissue and Hygiene Euromonitor International Passport data, 2021 © Euromonitor International 12 Digital Everything, Everywhere The sudden spike in online demand for essential goods created an opportunity for growth, but it also highlighted flaws in the current infrastructure and supply models. Euromonitor International’s 2021 Voice of Consumer: Digital survey showed 42% of connected consumers find longer than estimated delivery times is the biggest challenge they face when they shop online. Therefore, it is critical for brands and retailers to update outdated practices to meet consumer demands quickly and efficiently. Digital payments landscape In the past, businesses in India have not offered consumers different payment options, mainly because most transactions have been done in cash as security was a high concern. However, retailers are prioritising digital payments and leading online players stopped accepting cash payments during COVID19’s peak in 2020. This shift will reduce operational costs associated with cash payments in the long-term. Reasons For Cash Payments, 2021 Want to inspect product or service upon delivery View cash as a safer means of payment View cash as more convenient than other payment methods Fear of online scam Afraid product or service may not be delivered Greater familiarity with cash Do not want to pay at the time of ordering Do not trust online payment methods Do not have an online payment method 0% 5% 10% 15% 20% 25% 30% 35% 40% 45% 50% % of connected consumers Source: Euromonitor International Voice of the Consumer: Digital Survey, fielded March-July 2021 The penetration and usage of credit and debit cards in India is low, especially among rural and low-income consumers. Given that India is a mobile-first country, consumers find mobile digital wallets a more secure and easy option. Most first-time digital payments users post-COVID-19 are likely to use platforms like Unified Payments Interface (UPI), allowing businesses to tap into a new consumer base. © Euromonitor International Digital Everything, Everywhere 13 Reasons For Using Digital Wallets, 2021 Ease of use Earn loyalty points Increased security Widely accepted by merchants that I shop at Can load up digital wallet with cash Do not have to carry my wallet or purse Recognised brand Ability to order ahead Other 0% 10% 20% 30% 40% 50% 60% % of respondents Source: Euromonitor International Voice of the Consumer: Digital Survey, fielded March-July 2021 Case study: Safe Pay from Airtel To reduce online fraud and encourage more consumers to transact online, Airtel, one of the largest telecom companies in India, launched Safe Pay in 2021. This security feature adds an additional step of authentication for all the UPI and net banking payments through the platform. Whenever a payment is initiated, the consumer gets an option to authenticate the payment when Safe Pay is on, making the process more secure and less prone to fraud. All Airtel bank customers can activate the Safe Pay option on their app for free and transact across multiple online merchants. © Euromonitor International The Evolution of Physical Space in Foodservice and Retail COVID-19 lockdowns reduced foot traffic across physical outlets and impacted the top line of all retailers and foodservice owners. Additionally, the high costs of renting physical spaces led to the permanent shutdown of many stores. Retailers and foodservice brands are redefining the purpose of outlets and making them multifunctional in order to remain relevant post-pandemic. Reassessing the purpose of stores Technology will play an important role in reshaping the purpose of stores. Retailers will focus on reducing the number of touchpoints and provide more contactless shopping experiences for consumers. With e-commerce gaining prominence, the store will become an important part of retailers’ omnichannel expansion strategy. From being purely transactional in nature, stores are expected to turn into fulfilment centres or collection points. The three key drivers that retailers should embrace are: • Store automation - From scanning the products for information to self-checkouts, human interaction will be reduced where necessary. • Online-offline integration - To increase last mile efficiency, stores are turning into fulfilment centres to ship products to consumers. • Click and collect services - Retailers are providing more options to place orders online and pick up products in stores. Consumer foodservice companies accelerate the adoption of technology Increased at-home eating occasions created higher demand for home deliveries through digital platforms. Not only is this convenient, but consumers are likely to feel a sense of safety with limited in-person contact with the added benefit of faster deliveries and more discounting. A third wave of the virus in India makes it even more likely for online delivery to remain one of the key focus areas for restaurants in the long-term. © Euromonitor International Digital Everything, Everywhere 15 Share of Online Ordering, % Foodservice Value 2015-2020 % share 16 14 12 10 8 6 4 2 0 2018 2019 2020 2021 2022 2023 % foodservice value 2024 2025 Euromonitor International Passport data, Consumer Foodservice 2021 Online deliveries have expanded beyond metros and tier 1 cities, as tier 2 cities are quickly becoming the new hubs for delivery platforms. People who are moving to their hometowns, away from the big cities are also creating a higher demand for online deliveries across tier 2 cities. Various digital touchpoints mean the interaction between customers and restaurants begins before they even enter the restaurant. For example, customers can make reservations through food aggregator apps like Zomato or directly from the restaurant’s website as well as browse through the menu in advance. Many restaurants implemented QR codes, which is cost-effective, hygienic and easy to keep menus up to date. According to Euromonitor’s Voice of Consumer: Lifestyles Survey, 47% of respondents in 2020 used websites to select and book a restaurant. For restaurants to get the most out of their digital transformations, it is important to leverage technology to manage staff requirements and budgets while improving overall operations. © Euromonitor International 16 Digital Everything, Everywhere Cloud kitchens In the first half of 2020, cloud kitchens closed temporarily during the lockdown but later surged in numbers as many restaurants converted to these virtual kitchens as a low-cost option. This business model helps close the supply gap and allows consumers to enjoy restaurant-quality food at home with less capital investment. Cloud kitchens across India specialise in different cuisines and flavours, creating a unique dining experience depending on what consumers want and where they are located. For example, Box8 delivers healthy Indian meals and eat.fit targets calorie-conscious gym-goers to deliver nutritious meals. These kitchens provide tasty food and offer sustainable packaging and complimentary premium dining accessories like cutlery, table runners and coasters. In 2020, many cloud kitchens offered discounts to gain wallet share and customer loyalty. In the long-term, these offers are expected to decline as customers become more used to ordering from cloud kitchens. © Euromonitor International Conclusion The expected third wave of COVID-19 in India will reinforce demand for hygiene products and maintain consumers’ focus on boosting immunity. As time goes on, brands and retailers in the FMCG market are likely to invest more in digital spaces and strengthen online distribution to keep up with consumers turning to online channels for shopping. This will also force store-based retailers to re-evaluate the purpose of physical outlets and work towards integrating in-person and online channels to provide more seamless shopping experiences. © Euromonitor International How Can Euromonitor International Help? Euromonitor International is a global market research company providing strategic intelligence on industries, companies, economies and consumers around the world. Comprehensive international coverage and insights across consumer goods, business-to-business and service industries make our research an essential resource for businesses of all sizes. Learn more about our products

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