a new report by canadean analyses future trend scenarios for the fastmoving consumer goods fmcg sector, identifying the best opportunities in consumer markets over the next five years. emerging economies will play a huge role in the years to come.according to canadean, the next wave of emerging economies will have one of the deepest impacts on global consumer markets in the next five years. &ldquocompanies have already seen the value in setting up innovation centres in emerging economies to help tailor their products to consumer needs. however, innovations from emerging economies are now also transmitted back to developed countries,&rdquo says ronan stafford, analyst at canadean. the market research firm values to up to us1.66 billion worldwide in 2018, the impact of changes in consumer behaviour and industry practices in countries such as mexico, thailand and egypt, and innovations from these countries that are transferred back to developed economies.frontier for new packaging and tastescanadean also found that brands see the new markets in latin america, asia and africa as a frontier for packaging innovation and exciting new flavours. &ldquowe increasingly see pack formats developed to keep costs low in emerging economies used to target austerityminded consumers in europe. meanwhile, consumers are now highly aware of global culinary trends and want more experiential flavours. this means that far eastern and african flavours and ingredients are high in demand,&rdquo stafford says. &ldquothe more big brands invest in targeting consumers in lagos, jakarta and hanoi, the better they will meet the value and experienceseeking needs of consumers in new york, london, madrid and sydney,&rdquo he adds.low income, 45 womenaccording to canadean, women aged 45 and over from low and middle income households in urban areas will be early adopters of innovation arising from companies investing in the next wave of emerging economies.manufacturers therefore need to simplify formulations. &ldquothis includes strategies such as using fewer ingredients to lower costs or investing in lightweight packaging that is still robust enough to withstand poor quality supply chains,&rdquo says stafford.&ldquothese opportunities in the next emerging economies need to be targeted now, or companies will lag behind their competitors on not just opening up new markets, but in better meeting the needs of their current customers,&rdquo he concludes.source canadean, &rsquoearly signals future scenarios that will drive consumption and product innovation over the next five years.&rsquocollected from httpwww.premiumbeautynews.comenemergingmarketstoimpactfmcg,7440
