ASHVIN SUBRAMANYAM

CEO of International Business, Orkla

As we adapt to the evolving dynamics of the food industry, certain trends surface as significant drivers. We’ve seen the following key trends that are reshaping the retail food industry and representing opportunities for brands to innovate, adapt, and meet the changing needs and preferences of consumers.

Convenience, for instance, remains crucial, as the demand for Indian and Indian-inspired cuisines continues to rise steadily. There is a noticeable uptick in the preference for convenient meal solutions like ready-to-eat and ready-to-cook options. The proliferation of technology has led to heightened digital activity among consumers in this region, particularly in online grocery shopping due to the impact of Covid-19 impact. The UAE stands out globally for its remarkable growth in e-commerce, reflecting a growing preference among consumers for the convenience and accessibility offered by online shopping platforms. This trend is particularly pronounced in the F&B sector, where consumers increasingly embrace digital channels to purchase groceries, food products, and meal solutions. Similarly, Saudi Arabia has also experienced a significant uptick in online grocery shopping, with a notable 28 per cent increase year over year, according to Nielsen.

Social media’s influence on consumer behaviour is growing rapidly, with platforms such as TikTok, Snapchat, and IG becoming primary sources of food-related content consumption. To align with this trend, brands need to rethink their investment in digital marketing which will be essential as the projected spending. For 2024, we are also likely spending 50 per cent more on these platforms compared to the previous year.