Backed by rising consumer confidence and optimism, many of the world’s economies are experiencing degrees of positive momentum. In some cases, that momentum is strong; in others, it’s subtle, but still worth noting.
Thanks to globalization and connectivity, consumers around the world have access to a wider array of products than ever. So how much weight does the “made in” moniker carry when it comes to purchase motivation?
Global FMCG retail is pegged at $4 trillion today, growing at a rate of just 4%, with signs of continuing sluggish performance in developed markets. On the other hand, total retail e-commerce is predicted to grow by 20% (combined annual growth rate) to become a $4 trillion market by 2020.
In North America, consumers are actively trying to incorporate more plant-based foods into their diets. This suggests that plant-based options appeal to significantly more people than just those who follow vegetarian and vegan diets.