Premium for everyone: Two factors that reinforce the trend towards premiumization

An international brand expansion targeting only the top segment of the income pyramid or exclusively the rapidly growing mid-range segment misses a good opportunity to tap additional purchasing power in the emerging markets. Buyers there are increasingly opting for more expensive premium products, which in the truest sense of the word leads to an appreciation of numerous product categories. Barilla, one of the market leaders in the international pasta industry, reports, for example, that the effect of premiumization is already responsible for the increase in demand for pasta in emerging markets. Premiumization is a general market phenomenon and by no means limited to the existing premium markets. According to various market researchers, it is now a common and nationwide phenomenon in many growth markets. There are two important factors in particular:

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