- Challenger brands are capturing market share from traditional brands.
- A higher proportion of millennials are buying challenger brands.
- There are low barriers to entry for challenger brands.
- The adoption curve for food appears to be shifting toward early adoption.
- Challenger brands should check as many consumer boxes as possible.
Over the last several years, challenger brands have used their purpose and nimbleness to steal both revenue and market share from long-standing traditional food brands. At the same time, private label brands are experiencing a resurgence of their own.
As with most industries, technology and social media play their parts in the disruption. But other, more foundational factors are also at play.
This FoodThink white paper closely examines the many reasons for these shifts, as well as ever-evolving consumer preferences in the consumer packaged goods space.