Dairy Beverage Reinvented

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Dairy Beverage Reinvented




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Presentations text content in Dairy Beverage Reinvented

Slide1

Dairy Beverage Reinvented

Reinventing Milk to Increase its Relevance To Millennial Consumers

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Slide2

Dairy Beverage Reinvented:Understanding the Millennial

Goal: Grow milk/dairy consumption among the Millennial generation – influencers as individuals, parents and future leaders

Research Objective:

Understand current beverage habits and mindset of Millennials in order to develop new compelling beverage concepts that utilize milk and dairy ingredients

2

Slide3

3

Why Reinvent Milk?

Flat fluid milk

sales

Declining per

capita consumption

Milk

falls short between meals

Milk under-indexes on key needsAggressive beverage competition

Slow, continuous shift downward in per capita fluid milk consumption

Source: USDA ERS

Slide4

4

Why Millennials?Large Dip in Milk Consumption as Individuals Transition from Youth to Young Adulthood

Millennials less likely to drink milk

Large dip in milk consumption as individuals transition from youth to young adulthood (“age effect”)

Erosion in milk consumption vs previous generations (“cohort effect”)

Millennials more adventurous in food and beverage choices; many new products target this age group

Definition of healthful beverages shifting

Source: Kantar Beverage Panel

Slide5

Racially/ethnically

diverse

21% Hispanic; 15% Black; 6% Asian; 3% 2+ Races

1

in 3 immigrants is age 20-34

Broad

mix of life stages

26

% 18-32 year olds married Compared to 48% Boomers at same age and 65% of Silent GenerationWho are Millennials?No clear definition, most sources place in early adulthood

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MILLENNIALS

Age 18-3322% of Population70 Million People

Slide6

What Defines

Millennials?

Grew up during economic prosperity

Yet many

entered work force during

recession

Many

cannot get a job in their chosen

fieldDon’t expect to stay as long in a given job as previous generationsRapid advance of technology during their lifeSocial media is an everyday part of life6

Fiercely independent

Feel powerful

More liberal in views than older generationsInformation hungry

Receptive to new ideas – often seek peer feedbackDon’t have much to spend but will pay more for products

Slide7

Food and Beverage Habits Embraced by Millennials7

Food is form of self expression

Food as source of entertainment

Value authenticity

Interested in how food is grown/produced

Less is more philosophy – clean labels, readable ingredients

More natural, organic foods

Appreciate reusable, recyclable, resealable

Embrace flavor variety, multicultural foods

Seek healthy options

Blurring of meals and snacksLess brand loyal; willing to seek new outlets for food

Slide8

The Millennial Weekly Beverage Diary

8

% Who

Drink

Weekly (2013)

Beverage

Share of

Weekly

Beverage Occasions47%Dairy Milk7%68%Carbonated Soft Drinks13%48%Bottled Water

12%

46%Coffee

9%44%

Tea7%39%

Fruit Juice

5%

26%

Fruit Drink

3%

20%

Drink Mixes

2%

15%

Sports Drinks

1.2%

13%

Smoothies

1%

10%

Energy Drinks

0.8%

7%

Nutritionals

0.8%

79%

Tap Water

36%

Source: Kantar US Panel – Millennials approximated by age 19-34; self-reported beverage only consumption that is nationally projectable

Slide9

Products Gaining and Losing in Penetration and Occasions Among

Millennials

9

WHOLE

Milk

Non-Dairy

Smoothies

Total Coffee

& Specialty

Fruit/Vegetable

Blends

Tap

Water

Drink

Mixes

Protein

Drinks

Beverages growing in penetration and share reflect food values embraced

A number of Millennials exiting the Dairy Milk, CSDS and Fruit Juice Categories

Fruit Juice

Primarily Orange Juice

DAIRY

Milk

Carbonated Soft

Drinks

Slide10

What Drives Millennial Beverage Consumption

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Top

Beverage Needs

Over-index on t

hese Needs

Mix with alcohol

New/different

Was sick/illPurifying/cleanBefore/during/after exercise

Quick energyProvide lasting energy

Needs Gaining Most Share

Thirst

Go with my food

Like taste

Replenish fluids

Goes

well with food/snack

Wake

up

Treat

Cool

off

Healthier choice

Fun

Relax

Help me relax

Cool off

Replenish fluids

Quick energy

Treat

Be sociable

Fun

Before/during

/ after

exercise

Warm up

Green

highlight indicates these needs gaining more than population overall

Slide11

Health and Wellness Need

States:

Burning Problem:

“When

I start feeling a little hungry, my willpower goes out the window and I end up snacking…and then feel guilty. I wish there was a simple, nutrient-rich beverage to tide me over and help me avoid eating things I may regret later. Give me something to curb my cravings and leave me feeling satisfied

.”

Frame of reference: Food snacks

Burning Problem:

“Sometimes I feel run down or depleted after physical exertion and need a beverage to reinvigorate my body and help build me back up. I’m not a professional bodybuilder, so I don’t want anything too macho or extreme. Give me a beverage that provides all the nutritional benefits my body needs so I can recover quickly and feel great.”Frame of reference: Protein drinks8 Innovation Platforms that Address Millennial Beverage Needs

Burning Problem:“Sometimes

it’s hard to get all the nutrients I need in a busy day. I want a tasty beverage that packs it all in. I want balanced nutrition from fruits, veggies, dairy, even nuts and seeds. I can’t always eat right, but I know I’m covered when I drink right.”

Frame of reference: Smoothies

Balanced and RealWeight Management/ Curb Hunger

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Burning Problem:

“When I start feeling a little hungry, my willpower goes out the window and I end up snacking…and then feel guilty. I wish there was a simple, nutrient-rich beverage to tide me over and help me avoid eating things I may regret later. Give me something to curb my cravings and leave me feeling satisfied.”

Frame of reference: Food snacks

Recovery/Restore

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Slide12

Tasty Treat/Fun

Need State:

12

Tasty Pick-Me-Up

Refresh

Burning Problem:

“Sometimes the real craving is a break from my routine…a special ‘me’ time to sit back and get away from it all. Give me a beverage that is oh, so indulgent and fun to drink, that transports me to my happy place and gives me a multi-sensory experience – all without leaving my seat.”

Frame of reference: Espresso drinks (e.g., lattes

,

macchiato, coffee concoctions)

Burning Problem:

“When

I’m thirsty, I want an ice cold beverage. Soft drinks, iced tea and juice drinks are refreshing thirst quenchers, but they can be full of sugar and empty calories. Give me a fun, exciting beverage that cools me down, but doesn’t weigh me down with unnecessary ingredients or calories

.”

Frame of reference: Carbonated

soft drinks and

iced teas

8 Innovation

Platforms that Address Millennial Beverage Needs

12

Slide13

8 Innovation Platforms that Address Millennial Beverage Needs

Burning Problem:“Sometimes

the day is like a race to the finish line. When I start feeling sluggish, I don’t know if I’ll ever make it through. I need a beverage that gives me an energy boost to sustain me through my day. Current energy drinks are too intense for me. I want a nutritionally balanced drink that provides long-lasting energy, through real ingredients, that gets me to the finish line

.”

Frame of reference: Energy drinks, protein-rich foods and beverages

Burning Problem

:

“At the end of the day all I want is to relax and unwind. After all the hustle and bustle of the day, it’s time to slow things down when I get home. Give me a beverage made with simple, natural ingredients that prepares me for a good night’s rest.”

Frame of reference: Warm drink choices (e.g., tea and coffee); milk and cookies

Long-Lasting/Sustained Energy

Sweet Dreams Milk

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Energy Need State:

Relax Need State:

Thirst/Hydration

Need State

:

Burning Problem:

Everyday my body needs hydrating and water does the job of quenching my thirst. But, I’m always looking for beverages that multi-task, like a water that hydrates

AND

replenishes my body, by delivering essential nutrients - like vitamins, electrolytes, and protein. I want a refreshing beverage that can do it all.

Frame of reference: Water and sports drinks

Multi-Purpose Super Waters

13

Slide14

MILLENNIALS will be a powerful force in transforming the food industry

Appeal to their

sense of

adventure

14


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