Shaping The Plates: How Medications Drive A New Era Of Food Consumption In the evolving world of consumer behavior, a surprising force is driving a significant shift in the food industry.
By vikas jha •
Opinions expressed by Entrepreneur contributors are their own.
You're reading Entrepreneur Asia Pacific, an international franchise of Entrepreneur Media.
In the evolving world of consumer behavior, a surprising force is driving a significant shift in the food industry. Modern medications and health supplements are transforming consumption patterns, a trend recognized and predicted years ago by leading AI company Ideas founder David Griffiths, who has a proven track record of leveraging AI and Big Data to forecast market trends and build billion-dollar brands.
One particularly noteworthy catalyst is Ozempic, a medication initially developed to treat Type 2 Diabetes. Its unexpected side-effect of reducing appetite and aiding weight management has caught the attention of both the medical community and the FDA, which has extended its usage for weight management purposes. This unanticipated shift has set in motion a dramatic change, with Ideas predicting a staggering 30% decrease in overall food consumption.
For food and snacking brands, this shift poses substantial challenges that require immediate adjustments to accommodate the impending decline in the market. Michael Donaldson, Delivery Lead at Ideas, emphasizes the need for swift strategic pivots to meet changing consumer needs. Here are key adjustments he recommends:
- Quality Over Quantity: As consumers eat less, brands should prioritize the nutritional density of meals over size or quantity.
- Health-Supportive Products: Diversification into products that promote health or support weight management is crucial to stay relevant and competitive.
- Reframing Marketing Approaches: Shifting the narrative from food as pleasure to food as a source of essential nutrients can resonate with changing consumer preferences.
- Investing in Future Food Technologies: With the growing influence of medications on food consumption, innovative "future foods" offer exciting prospects for the industry.
This transformation highlights the profound impact that modern medicine has across various industries, extending beyond healthcare alone. Will Cooper, Head of Client & Strategy at Ideas, explains, "The rise of AI compelled industries to reassess their models. Similarly, the rise of supplements and medications that affect food intake necessitates adaptation and evolution in the food industry."
The food industry now stands at a pivotal moment, where resilience requires more than mere survival—it demands leveraging change. The insights provided by Ideas underscore the importance of informed strategy restructuring in the face of significant market shifts. As this revolution in food consumption patterns ripples across global marketplaces, the foresight and strategic recommendations from Ideas will undoubtedly prove invaluable for food and beverage companies navigating this new landscape.
In this era of shifting plates, businesses must embrace the opportunity to reimagine their offerings, cater to changing consumer needs, and align with the evolving nature of food consumption. By embracing these shifts, companies can not only survive but thrive in a rapidly changing industry driven by the convergence of medicine and food.
