Singapore-based start-up Noce Nuts says that consumers are willing to pay a premium for nut butters that are customised to their preferred taste and texture, including reduced sugar and salt options.
The dual rise of consumer demands for the somewhat paradoxical combination of premiumisation and affordability in foods and beverages has spurred firms to find various forms of a ‘middle path’ when it comes to innovation.
Alcohol heavyweight Diageo believes that the rising demand for premiumisation in APAC, and in particular economic growth in China, is placing the category in a strong position.
Japanese brewery giant Asahi has highlighted that its 2023 plans will focus on driving its premiumisation strategy in hopes of delivering long-term sustainable growth, despite the current pressures of inflationary cost increases.
Rising affluence is driving premiumisation and innovation in the meat sector in South East Asia (SEA), but there is still ample space for NPD, not least in the snacking category.
Brewery giant Carlsberg Malaysia has identified premiumisation as a crucial strategy for the firm to continue achieving profitable growth, even as the firm battles continued inflationary pressures, rising costs and consumer sentiment about price hikes
