04 Jan 2021
Posted in Consumer
Olam Coffee leverages key consumer trends with new upcycled ‘superfruit’ cáscara
Olam Coffee’s recent development of new ‘superfruit’ cáscara is a promising discovery as its cross-industry application will help realize the potential of upcycling on a mass scale, according to GlobalData, a leading data and analytics company.
Carmen Bryan, Consumer Analyst at GlobalData, comments: “The global hot coffee market is valued at $108.4bn in 2020, offering a robust introductory market for the new superfruit. However, what really sells the cáscara ingredient – and by association, upcycling – as a concept is the cross-industry application for food, beverages or cosmetics. Having a wide reach reaffirms the ingredient’s long-term potential and durability against market turbulence, rather than relying solely on the hot coffee market. Combine this with the environmental and sustainable sourcing claims of upcycling, which are ever the more important now, and we may just see it emerge as the next avocado or palm oil trending on TikTok.”
In fact, as per GlobalData’s latest COVID-19 Recovery Tracker Survey, it is clear that the pandemic has actually accelerated such environmental concerns. Over half (51%) of the global population now prioritize food waste as a more pressing issue as a result of the COVID-19 outbreak – with millennials reporting the highest rate at 54%. Millennials are a hyper-connected generational group, and as such, brands must be careful how they communicate their products and values; to optimize a new product’s launch, clear messaging that highlights an ingredient’s environmentally friendly position, as well as active engagement with this consumer group over social media platforms, will help convey a message of trust and relevance, boosting its overall adoption into the mainstream.
Olam Coffee’s superfruit also ties into current health trends. Promoted as high in antioxidants, the ingredient will align with 56% of global consumers who are always or often influenced by a product’s health and wellbeing attributes.
Bryan adds: “Health credentials are almost mandatory for new product development as consumers increasingly expect a holistic approach. In the current pandemic climate, antioxidant claims are well positioned to benefit due to their immunity-boosting associations. Through a simple innovation, Olam Coffee has been able to address two dominating trends – sustainability and targeted health – with significant exposure across different industries.
“Brands should take note of this by investing in their upcycling capabilities as a means of creating new product lines, positioning themselves as more ecological and potentially branching out into other industries.”
* GlobalData’s COVID-19 Recovery Tracker Survey Week 11 – published December 7th 2020 – Global – combined responses: “It is now my top priority”, “Significantly more important than before”, and “Slightly more important than before”