MARKET TRENDS AND CONSUMER BEHAVIOR IN AGRIBUSINESS
3. FACTORS INFLUENCING INFLUENCING MARKET TRENDS AND CONSUMER BEHAVIOR
3.2. Social and cultural factors
i. Changing Demographics. Aging populations, urbanization, and the rise of the middle class are reshaping food preferences and purchasing behaviors. Millennials and Gen Z are driving trends such as plant-based eating and sustainable sourcing.
ii. Cultural Food Preferences. Globalization has led to greater exposure to diverse cuisines and food traditions, expanding demand for ethnic and fusion foods.
iii. Health Consciousness. The growing awareness of lifestyle diseases, such as obesity and diabetes, is increasing demand for nutritious, low-sugar, and low-fat products.
iv. Social Media Influence. Social media platforms play a significant role in influencing food trends, product preferences, and brand awareness. Consumer reviews and influencer marketing impact buying decisions.