With mental health and wellbeing gaining traction among consumers, it is important for FMCG players to identify and adapt their strategies to these, according to data and analytics company, GlobalData.
There are two main ways in which mental health is impacting the industry: through new product developments that specifically target this trend, and corporate responsibility which is pressuring players to take a more active approach.
Carmen Bryan, Consumer Analyst at GlobalData, comments: “With approximately a third of consumers aged 18-24 and 25-34 agreeing that mood-boosting and relaxation claims are key to their purchasing decisions, which is much higher than their older counterparts, it is clear that this is an age-based trend. This in turn is driving new innovations in products that claim to aid in relaxation and enhanced moods.”
The millennial generation has notably brought mental health and wellbeing to the forefront of modern culture, paving the way for this to be adopted into industry trends as consumers search for natural and holistic remedies that can help to support mood disorders such as anxiety and clinical depression. The uptick in CBD- and cannabis-infused launches, such as St. Peter's Spirits’ Green Monke, which has recently launched in North America, are examples of this. Similarly, a new study on Bios GOS, a prebiotic ingredient discovered by FrieslandCampina Ingredients, suggests that prebiotics may help to reduce anxiety levels.
Bryan continues: “Ingredients positioned as mood-boosters are well positioned to cash in on this trend, which has seen a boost in awareness since the onset of the COVID-19 pandemic. As many as half (52%) of global consumers have reported feeling extremely or quite concerned about their mental wellbeing due to the pandemic. With ongoing studies into mental health, there are new opportunities for players to tap into this emerging market and position their products with a natural, better-for-you claims.”
Notably, consumers are also increasingly interested in brand activity; GlobalData’s research reveals that one third (32%) of global consumers want to know about initiatives adopted by brands after the pandemic period, and 70%*2 agree that claims of supporting social causes have a positive influence on their purchasing choices.
Bryan adds: “The other major implication is corporate responsibility. Consumers are looking to private companies to help set industry standards, whether this is by supporting the mental wellbeing of their employees, or aligning with charitable causes that help to raise awareness. Corporate responsibility isn’t going anywhere any time soon, so it is crucial that companies employ best practices within their work culture and brand strategies in order to ensure long-term stability.”
* All data is from: GlobalData’s 2021 Q1 Consumer Survey – March 2021
*2- Combined responses: “Essential / key driver of purchase”, and “Nice to have, but not essential”
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