The global ethical food market is expected to grow against a backdrop of increasing consumer awareness and the expansion of ESG investments (investments considering environmental, social and governance factors).
The global ethical food market is expected to grow against a backdrop of increasing consumer awareness and the expansion of ESG investments (investments considering environmental, social and governance factors). The market combines a diverse range of segments such as organic, fair trade and plant-based, with particular attention currently on plant-based food. By region, North America and Europe lead the market. In APAC, religious dietary laws like halal and kosher have an increasing presence.
Still, ethics are not a primary motivator for purchases, as tangible values like price and taste tend to take priority. In Japan, low awareness and high prices also form barriers to the wider uptake of ethical food.
The key to market expansion lies in balancing ethical value with tangible value such as quality, taste and health benefits, through technological innovations in food tech* and regenerative agriculture**. Additionally, brands need to secure consumer trust through transparency and show the real benefits on offer by relating products to practical initiatives such as support for local production and tackling food loss and waste.
The global ethical food market looks set to grow, but low awareness and high prices are barriers to this market's growth here in Japan. Brands hoping to expand the market must show the real benefits on offer to consumers by highlighting tangible benefits like quality and health, and tie these in to practical initiatives that support localism or tackle food loss and waste.
Kimiaki Yamamoto, Associate Director – Food and Drink, Japan
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