Consumers will pay more for recognisable ingredients
As many as 73% of consumers are happy to pay a higher retail price for a food or drink product made with ingredients they recognise and trust, according to new research.
In a survey of 1,300 consumers across Europe, North America and Asia-Pacific, commissioned by Ingredient Communications, more than half of respondents (52%) said they would spend over 10% more on a food or drink product that contained ingredients they recognised and trusted. Meanwhile, nearly a fifth (18%) said they would pay 75% or more extra.
The findings of the survey underline the growing importance of clean and clear labelling and the use of ingredients that are familiar to consumers.
Consumers in the US were willing to pay the highest prices – with 44% stating that they would pay 75% or more extra for ingredients they recognised and trusted. This was followed by consumers in India (32%), the Philippines (29%) and Malaysia (26%), indicating a strong preference for recognisable ingredients among consumers in Asia.
