IMPORTANCE OF MARKET RESEARCH TO TRACK THE BENEFITS FOR BRANDS ON RISING VEGANISM
True Code
private limited company is celebrating the sensational growth of veganism by unraveling
the innovative measures by successful brands in supporting vegans. Plant based
diet plans are rapidly spreading across APAC, with field study verifying the
vegan food trend across consumer markets across the world. Market research
confirms the doubled global food launches in 2020 compared to the reports in
2016, restates True Code researching head. The Veganuary campaigns in which
both vegetarians and omnivores equally participate to try out new vegan recipes
for a month, finally end up signing in for veganism, shows how fast the vegan
trends are spreading. Veganuary was initially launched with approximately 3000
participants, which grew up to over 80% female participants registered online
by 2018, confirmed by the market researching reports. Consumers were eagerly
waiting for the brands to innovate on vegan recipes and products that will highlight
their values, standing out in the crowd. The chances of success were extremely
high on investing on productive innovations that helped each brand to be more
creative on the vegan alternatives used in their products. This scenario
highlighted the importance of market research in tracking out the right
innovative idea that will trigger the vegans as a whole as well as in helping to
choose the right area for circulation of their product. Customers preferred to receive
vegan alternatives of every product with no compromise in taste and smell as
well, confused the officials with question of doubt on the percentage circulation
of their alternative products as well as the failure of their current product
due to rising vegan participants. The shift to veganism was essential as the
reports in 2010 showed a rising consumption of meat and diary products, and a
global rise of population to 9.1 billion by 2050, manifesting a threat of food
shortage as well as climate catastrophes. True Code market researching reports
helped various brands to tackle the code to maximize the circulation of plant-based
products that promised health and sustainability along with surveys and field
study that helped in understanding the customer’s choice of interest in taste
and ingredients which adds to the successfulness of vegan alternatives of omnivores
products. There is a common misconception among people that vegan foods are
boring which provoked the companies to think twice before investing on leafy
food products, but with accurate market research and data, they are able to set
stage in terms of future growth prospects.
