Page 9 - Food&Drink Magazine October 2018

before a producer makes a move to establish themselves as a leader in the manufacture of food items representative of a multicultural Australia, possibly even becoming trend setters themselves.
SKILLING UP
There are a number of things Australian companies can do to prepare themselves for the evolution of food. First of all, Australian producers and manufacturers should cultivate a culture of diversity and acceptance of new trends. Many of Australia’s largest food companies hail from family owned operations that have struggled to internationalise and keep up with modern trends in food. An internal review of culture would be beneficial to assess whether companies are ready to adopt change caused by the way food is viewed by an increasingly diverse Australian population.
Australian food companies should also be actively exploring areas of the domestic market that are served primarily by imports, but pose the lowest barriers to entry – essentially the untapped potential within the market. Study of such segments relative to internal product strengths would allow a company to gauge whether they could score quick runs with little investment in marketing and production. Alternatively, more advanced Australian producers and manufacturers could aim to get ahead of the game by pre-empting new demand in food and ingredients arising from emerging food trends.
This would require a substantial understanding of domestic and international food trends, which may require partnership with specialist food andbeverageconsultants. ✷
✷ ABOUTTHEAUTHOR
“ The unique value-add food items that create
the defining characteristics of foreign food
remain largely served by growing imports.”
Food & Drink Business, 153 x 237 mm, Viscofill, CC-en24-AZ268 09/18
ON TREND
Ryan Lin is a consultant specialising in customer and brand driven growth. He has worked with food and beverage companies across
Australia and China, advising them on strategy, branding, sales and service projects.
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