Hao Cheng is currently serving as executive director and growth officer of the beverage industry at Ipsos.
Hao has 20 years of working experience in market research and consulting. He is deeply engaged in the field of consumer research and has a comprehensive and unique insight into the food and beverage industry and related consumers.
He has conducted research for well-known beverage brands like Coca-Cola, Nestle, Master Kong, and Danone regarding consumer & marketing understanding, shoppers, innovation tests, and brand health tracking, and he has accumulated rich experience from related projects after.
In the past two years, Hao has hosted speeches and reports including How to Get Consumers to Pay for ESG, Insights into Global Food Trends and the Current Situation of China, The New Trend of ‘Sustainability’ in Food and Beverage Industry, Fresh-Made Tea vs. Packaged Tea – Gentlemen seek harmony but not uniformity, The Rise of Healthy Snacks, Consumer Behavior and Attitude Research on Sugar Reduction, Global NFC Juice Development Overview and Opportunities in the Chinese Market, etc.
According to the Global Wellness Institute, the global wellness industry reached a valuation of $4.5 trillion in 2022, with projections to reach $7 trillion by 2027. The global mental wellness market, meanwhile, will generate $20.09 billion in revenue in 2023, with an average growth rate expected to exceed 25%. Against this backdrop of a flourishing "new healing economy", young consumers are increasingly focused on self-reflection and self-care as key pursuits. For instance, the beverage brand Dydo leverages this trend by periodically partnering with functional health brands to co-develop targeted functional beverages designed for specific demographics. These products address needs such as fat reduction, sleep enhancement, and energy boosting. This discussion will delve into market data and global case studies to examine how beverage brands can transition from emphasizing health benefits to cultivating emotional connections, ultimately crafting products that provide young consumers with both mental satisfaction and a sense of well-being.